The United States Mint struck the Lincoln cent for over a century without ever placing a mint mark on coins made in Philadelphia.
That long tradition changed for a single year in 2017.
To celebrate the 225th anniversary of the Philadelphia Mint, officials added a small letter P below the date.
This 2017-P cent features the familiar bust of Abraham Lincoln on the front and the Union Shield design on the back.
The coin is made of a zinc core coated with a thin layer of pure copper.
Because Philadelphia had never used a P mint mark on pennies before, this one-year issue became an instant milestone for modern collectors.
It holds rank 61 on the list of top 200 most valuable pennies thanks to top-tier preservation.
A pristine example of this coin brought a massive price of $4,500 in an eBay Auction.
That sale took place in July 2018.
The coin was certified in a grade of MS-69 Red by a major grading service.
In simple terms, MS-69 means the coin is just one single point away from absolute perfection on the standard 70-point grading scale.
The Red designation means the copper surface still retains its bright, original fiery orange color with no brown oxidation.
Pocket change pennies pick up scratches and fingerprints within days, so finding a modern business strike in near-perfect condition is remarkably difficult.
Two serious collectors competed hard for this piece because so few have ever been graded this high.
Billions of these cents entered circulation, meaning the base coin is not rare at all.
You can still find them in pocket change or bank rolls on any given day.
The true value comes down entirely to condition rarity and collector demand for first-year issues.
The 2017-P marks the first and only time a regular-issue Philadelphia penny carried the P mark.
Because it represents a unique type coin, registry set collectors actively compete to own the single finest examples known.
Modern zinc pennies are notorious for developing tiny spots, carbon flecks, and plating blisters right out of the mint bags.
Most 2017-P pennies only grade around MS-65 or MS-66 when submitted for professional grading.
An MS-69 Red example sits near the absolute top of the census, which is why a buyer was willing to pay thousands for it.
Finding a 2017-P penny is easy, but finding one worth serious money requires careful inspection.
Start by looking directly under the date on the front of the coin.
You should clearly see a neat letter P stamped right beneath the year 2017.
If there is no mint mark, you have a penny from a different year, since 2017 is the only year Philadelphia added the letter.
If you see a letter D instead, the coin was made in Denver.
Next, use a 10x jeweler loupe under a strong desk lamp to inspect both sides.
Check the surface for any hairline scratches, contact marks, dull spots, or milk-colored zinc bubbles.
To reach a premium grade, the coin must have completely spotless red luster with crisp strike details on Lincoln portrait and the shield lines.
If you are not sure what you have, a quick scan with the CoinKnow app can help you identify the design and give you a fast starting point.
Remember that circulated pocket pieces are worth face value, and only flawless coins certified by grading services reach auction records.
If you have a stack to go through, a closer look at which free coin identifier apps actually works speeds it up considerably.
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