Although the Philadelphia Mint will likely strike billions of 2017-P
Lincoln cents for collectors to find in circulation at face value,
examples of the first cents in U.S. Mint history to be struck with a P
Mint mark are currently generating secondary market premiums.
The 2017-P Lincoln cents struck for circulation as well the special
finish cents created for inclusion in the 2017 Uncirculated Mint set
are a one-year type. The addition of the P Mint mark is part of the
U.S. Mint’s 225th anniversary year celebrating the contributions to
the nation’s coinage history by each production facility.
The P Mint mark will not be included in the design for Philadelphia
Mint cents struck beginning in 2018.
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Collectors will have to be diligent to find single problem-free
coins or coins by the roll of circulation strikes. A number of the
armored carriers that roll the coins for banks receive their shipments
from the Philadelphia Mint in containers that hold hundreds of
thousands of coins. The jostling of the cents in these containers
ensures that, while the coins are Uncirculated, many will have contact
marks from banging into each other.
Although the coins are rolled into 50-coin rolls, those rolls may
comprise exclusively new coins, or they may also contain a mix of
older circulated coins.
The 2017-P Lincoln cents packaged in the annual Uncirculated Mint
set, to be offered by the U.S. Mint sometime this year, are generally
of higher quality than the cents mass-produced for circulation.
What might the final mintage be for the 2017-P cents? Nearly 4.7
billion 2016 Lincoln cents were struck to fill Federal Reserve orders
for circulation. Additionally, hundreds of thousands of 2016 Lincoln
cents were struck for the 2016 Uncirculated Mint set. Similarly, the
Philadelphia Mint struck nearly 4.7 billion 2015 Lincoln cents for circulation.
Coin Co. in Littleton, N.H., plans to offer the 2017-P Lincoln
cents to collectors as soon as they can secure a supply. The firm
already has a product number assigned to the coins, to be offered
individually for 25 cents each.
Mark Chaplin, owner of Virg Marshall III Inc., in Wymore, Neb., said he
has not been able to obtain any of the 2017-P Lincoln cents, although
he has received a significant number of collector inquiries.
Chaplin said since 2009 he’s faced considerable obstacles from the
Reserve in obtaining quantities of current-year coins to offer to
collectors who can’t secure them in their own geographic areas. He
said he hasn’t been able to order current-year coins directly through
the Fed or their carriers for years.
Lincoln cent: The popular Lincoln
cent has gone through several reverse updates since it was
introduced in 1909 to honor the nation's 16th president on the 100th
anniversary of his birth. How much are Lincoln cents worth?
A number of sellers on eBay have completed confirmed sales for a single
2017-P Lincoln cent along with a 2017-D cent from the Denver Mint as
part of a two-coin set, or 50-coin rolls of strictly 2017-P Lincoln cents.
Buy It Now options are being offered by an Apex, N.C., seller for 10
rolls of the 2017-P cents for $65, with free shipping.
Free shipping is also offered by sellers of two-coin sets. A
Wildomar, Calif., seller is offering two-coin P and D sets for $1.49.
A Shelton, Wash., seller offered single 2017-P cents for 99 cents
with 49 cents shipping.
A Mascotte, Fla., seller was offering four 2017-P and 2017-D sets
for $6 postpaid while another seller from Panama City, Fla., offered
the same configuration at $2.65.
A Brooklyn, N.Y., seller had confirmed sales of 50-coin rolls of the
2017-P cents for $8.
Brooklyn seller Daniel Liu says his supply of 2017-P Lincoln cents
is currently limited. “My friend at the bank ordered more pennies, but
told me they’re all 2016s which means Garda [armored car company that
rolls coins on behalf of the Federal Reserve] is drawing into their
stock, and will soon need to replenish their stocks,” adding, “I would
expect to see more 2017-P coins in February-March.”
Liu says he was able to acquire a total of $75 face value worth of
the 2017-P cents, or 150 rolls containing 7,500 coins.
His inventory is nearly sold out in roughly a week, with just seven
rolls left as of Jan. 31, one roll of which he was retaining to sell
as double-coin lots.
“Yes, demand seems to be high, as buyers are willing to pay $8 for a
roll, and $1.65 for two coins,” Liu said. “It seems to be higher for
buyers in the central to West of the country, although I’ve seen a few
sales to buyers here in the East as well. However, I do believe demand
will start to slow as more and more 2017-P coins reach circulation.”