Posted 07/05/2017 08:16 am
There will definitely be an extremely high mintage. When I visited the mint in June, they had a count of how many pennies had been produced this year, and it was somewhere in the billions (I think around 4). Last year they produced 16 billion circulation pennies, so there will likely be more minted this year. Keep in mind that a large amount of these pennies were minted in Denver, so that would detract a significant number from the overall mintage. Also, since this is somewhat of a commemorative coin, it is a possibility that they will produce even more.
Another point to think about is how many pennies are being hoarded away by people. Many people have rolls and boxes filled with UNC 2017 P pennies. If everybody is saving them because they think that they will be worth something, those pennies will be worth face value or slightly above. It is very similar to what happened to the 1955 S penny. When people saw the mintage of 1950 D nickel and heard that 1955 was the last year San Francisco would mint wheat pennies, they were grabbed up everybody and because of that they are only worth several dollars in BU condition. I personally do hold onto rolls of 2017 P pennies, but that is just because they are uncirculated.
I think the main error to be searching for is the 2017 no P penny. It is possible for one of the dies to be missing the mint mark, is it not? Also, according to one member, a local coin shop had one for sale and was offering it for $800. When he came back later, someone had bought it. I would say it is probably worth searching for. Just my opinions though.
Another point to think about is how many pennies are being hoarded away by people. Many people have rolls and boxes filled with UNC 2017 P pennies. If everybody is saving them because they think that they will be worth something, those pennies will be worth face value or slightly above. It is very similar to what happened to the 1955 S penny. When people saw the mintage of 1950 D nickel and heard that 1955 was the last year San Francisco would mint wheat pennies, they were grabbed up everybody and because of that they are only worth several dollars in BU condition. I personally do hold onto rolls of 2017 P pennies, but that is just because they are uncirculated.
I think the main error to be searching for is the 2017 no P penny. It is possible for one of the dies to be missing the mint mark, is it not? Also, according to one member, a local coin shop had one for sale and was offering it for $800. When he came back later, someone had bought it. I would say it is probably worth searching for. Just my opinions though.
Edited by WheatBackPenny
07/05/2017 08:17 am
07/05/2017 08:17 am
