The coins in Premier Silver Proof Sets sets are identical to the coins in their regular silver proof set counterparts both of which were first introduced in 1992.  The difference lies solely in the packaging, for which the Mint charged an extra $16.50 ($37 in 1992 increasing to $37.50 for 1993 through 1998 versus $21 for the regular silver set for all seven years).  

Of the five coins included in the sets, the Roosevelt Dime, Washington Quarter and Kennedy Half Dollar are 90% silver and 10% copper, the same composition used for these series through the 1964-dated coinage.  The Lincoln Cent and Jefferson Nickel in these sets are identical in metallic composition to their counterparts in the regular proof sets.  Collectively, the three silver coins contain .61487 ounce of pure silver.


In the regular Silver proof sets, these five coins are sealed inside a hard plastic case with a black cardboard insert.  The plastic case was sold and shipped by the Mint inside a black paperboard box.  The Premier Silver Proof Sets start with the same plastic holder and black insert.  The plastic holder is mounted inside a plush album and held in place with a chrome metallic band around the edge of the plastic holder.  The Proof Set is hinged inside the plush album in such a way that it can hook back into the opposite side of the album making a triangular self standing display of the coins.  When closed, the album fit inside a larger black box with gold imprint (see picture above).

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                                                             Proof Set Mintage Figures       

                                          Year        Regular          Prestige         Silver          Premier
                                          1992        2,675,618        183,293       1,009,586         308,055
                                          1993        2,409,394        224,045          570,213         191,140
                                          1994        2,308,701        175,893          636,009         149,320
                                          1995        2,010,384        107,112          549,878         130,107
                                          1996        2,085,191          55,000          623,655         151,366
                                          1997        1,975,000          80,000          605,473         136,205
                                          1998        2,086,507                              638,134         240,658

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The issuance of silver proof sets were initially greeted quite favorably by the public with the Mint selling over 1.3 million sets the first year (including both types).  The initial interest that resulted in nearly one out of three 1992 sets sold being silver, quickly faded with the 1993 sophomore outing of these sets grossing only 761,353 sets.   Thereafter, the mintages of silver sets tended to stay in the 700 to 800 thousand range.  However, the Mint's customers shifted away from the deluxe packaging option in favor of the regularly packaged sets with these Premier Silver Proof Sets making up only 5% of total proof set sales during the middle years.

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                                                          Comparative Mintage Analysis    

                                                  Total              Total         Silver As       Premier Sets As % of    
                                  Year    Proof Sets      Silver Sets    % of Total      All Sets    Silver Sets
                                  1992     4,176,552        1,317,641           32%               7%             23%
                                  1993     3,394,792           761,353           22%               6%             25%
                                  1994     3,269,923           785,329           24%               5%             19%
                                  1995     2,797,481           679,985           24%               5%             19%
                                  1996     2,915,212           775,021           27%               5%             20%
                                  1997     2,796,678           741,678           27%               5%             18%
                                  1998     2,965,299           878,792           30%               8%             27%

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Two years that are exceptions to this generalization are 1995 and 1998.  In 1995, silver proof set production fell through the 700,000 set floor and Premier Silver Proof Set production was just over 130,000 pieces.  As a result, 1995 marked the low year for the Premier Silver Proof Sets and also for the regular silver proof set.  The story was the opposite with the other exception, 1998.  The Mint announced the end of the Premier Silver Proof Set program during 1998.  As is often the case with first and last years, the set was purchased in large numbers by the public resulting in the second best year ever for the Premier Silver Proof Sets.

While the Mint was able to charge $16 to $16.50 more for the Premier packaging, they have not fared as well in the after market.  The Coin Dealer Newsletter, a wholesale pricing guide used by most coin dealers, currently lists all seven years of the Premier Silver Proof Set at the same price as the regular packaged silver proof sets indicating dealers accord them no additional value due to the packaging.  Similarly, the retail market accords them little if any additional value.  Many collectors prefer the regular packaging as it is less bulky to store in safes and safe deposit boxes.    This is good news for those collectors who are interested in the enhanced packaging.  The sets, while having relatively low mintages, are readily available and carry only a small, if any, premium to their counterparts with the lesser packaging.

For collectors seeking these sets, we typically have a selection of dates in our eBay Store.