Not at all. Many countries mint proof coins in the same metals used for circulation-strike coins, e.g., cupronickel, steel, aluminum, etc.
However, some countries do mint special proof coins made from silver, gold, and/or platinum as well as those made from less-valuable metals.
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The 40% proof silver set was a 3 piece.
If you mean a 1988 Silver Eagle only Proof and bullion coins were struck in that year. From 1986 to 1992, proof Silver Eagle coins were minted at San Francisco and these coins bear the "S" mintmark and have a current retail value of $40.00. Bullion Silver Eagle coins dated 1988 were also struck at San Francisco but do not have mintmarks, the value of these coins depends on the spot price of silver at time of sale. As of today 3-27-11 it's about $37.32
As of 07/2010 a proof set containing copper-nickel clad coins retails for about $13, while a Prestige set with silver coins sells for about $35.
As of 07/2010 a 2000 silver proof set retails for about $35. Your proof set's package should say that it's a "Prestige" set. Anything else contains copper-nickel coins, not silver and sells for about $14.
All circulating quarters dated 1965 and later don't contain any silver. They're made of copper-nickel. The only modern quarters that contain silver are special "prestige" coins minted and sold to collectors in Proof sets.