Last Updated on February 18, 2021 Posted by Colonial Acres Coins
If you look carefully at Canadian coin rolls, you may notice that individual coins bear marks that don’t seem to have an obvious meaning. Sometimes the coins bear the initials of the artist who created the design. You may notice that certain pennies bear the letter “P” just beneath the Queen’s portrait on the obverse side. What does this mean? Does the marking affect the value? Are these coins prized by collectors?
As with many seemingly mysterious occurrences, the letter “P” on the penny has a mundane explanation. Nevertheless, it offers some fascinating insights into coin minting and distribution.
When Did the “P” First Appear?
Canadian pennies marked with the letter “P” first entered circulation in 2001. The mark denoted coins made from a new composition. In the past, pennies had been made primarily of copper. However, this method of production was environmentally unfriendly because it involved cyanide. Seeking a more eco-friendly method, the Royal Canadian Mint began striking copper-plated pennies with a core of steel starting in 2001 and marked them with the letter “P” to identify them. These coins had the added advantages of being more durable and lightweight than before.
Because the new coins were more lightweight, existing vending machines and transit authorities would be more likely to reject them. So that organizations could modify their machines to accept the new plated coins, the RCM struck a series of test coins using the new process in 1999 and 2000.
What Does the “P” Stand For?
It’s not entirely clear what, specifically, the “P” stands for. One explanation, which is considered the most plausible, is that “P” stands for “plated” and was used by the RCM to identify coins made with the new process. Another, less accepted explanation is that the mark was included at the request of the vending machine companies so they would have a way to differentiate the new coins from existing copper pennies.
Does the “P” Affect the Value?
By itself, the “P” on the penny does not add value, and generally speaking, those pennies with the mark are not worth more than those without. However, the test tokens that were produced in 1999 and 2000 are more valuable because of their rarity. These coins were never intended to enter circulation, which adds to their value to collectors. There are more of the 1999 test tokens on the collectors’ market than the 2000 minting.
Are There Other Coins That Bear the Mark?
While Canadian $1 and $2 coins still use the same composition, the Royal Canadian Mint has used the new plating method to produce coins of lower denominations since 2001. In addition to pennies, these include five-cent pieces and 25-cent pieces. The fact that quarters and nickels with a steel core also receive the “P” marking supports the theory that it stands for “plated” and not for something like “new penny,” as the other theory suggests.
In the year 2000, the RCM had to strike an emergency supply of new plated nickels to address a shortage in Quebec and Alberta. Due to the circ*mstances surrounding their minting, these 2000P nickels may be of interest to collectors, and there are approximately two million of them still in circulation.
What Is the Status of the One-Cent P Coins Today?
Eventually, when the plated steel coins became the norm, it was no longer necessary to mark them with the letter “P” for purposes of differentiation. The RCM discontinued the mark in 2006, but many of those coins are still in circulation.
Canadian Coin Rolls at Colonial Acres
Because of the insight that they offer into coin manufacturing and production, one-cent P coins would be a great addition to any collection. You can find rolls of these distinctive coins and other collectible Canadian pennies for sale at Colonial Acres.
FAQs
When Did the “P” First Appear? Canadian pennies marked with the letter “P” first entered circulation in 2001. The mark denoted coins made from a new composition. In the past, pennies had been made primarily of copper.
What does the p on a Canadian coin mean? ›
What does that P stand for? In 1999 the Mint began converting the circulating coins below $1 to plated steel planchets produced in their new plating facility. The new coins have a slight difference in weight and the vending industry requested a mark to make it easier for them to calibrate coin-operated machines.
What does the p on a penny mean? ›
The mint mark is the small letter that shows which Mint location made the coin. The two most common mint marks are the “P” for Philadelphia and “D” for Denver. The initials of the artist(s) who designed and sculpted the coin are also included in small letters.
Where is the P on the Canadian penny? ›
To make it easier to differentiate between traditional coins and the new plated ones, a "P" was added below the Queen's effigy on the obverse of the coin. Composition: Copper Plated Steel. Shape: Round. Mint Mark: "P".
Where is the P on a 2006 Canadian penny? ›
Those 2006 magnetic coins were supposed to have a little logo on the flip side, right below the image of the Queen – either a P, or the brand-new Royal Canadian Mint crown/maple-leaf logo that's now on all coins. Ed knew there'd been an error that year, and that some pennies rolled out with no P, no logo.
What is the P coin? ›
P Coins are an integral part of Pinkoi's rewards program. You can earn P Coins when you make purchases and complete designated tasks. P Coins can then be used for discounts on purchases and to redeem rewards.
What is the P on the 2017 penny? ›
In 2017, for the first time ever, the Philadelphia Mint struck 1¢ coins bearing a "P" mint mark. A landmark "must have" issue, these 2017-P Lincoln cents were quietly released into circulation – and we're pleased to offer them to you!
What coins have the letter P on them? ›
Designated by a small capital letter “P”, the Philadelphia Mint produces circulating coins, and numismatic pieces, such as annual uncirculated coin sets, commemorative coins, and medals. Our team of Sculptor-Engravers who create the designs and models for coins work out of the Philadelphia Mint.
Which pennies have a P mint mark? ›
In 1943, pennies were made of zinc-coated steel because copper was needed during World War II. At the beginning of 1943, a limited number of copper pennies were struck by mistake. In honor of the Mint's 225th anniversary in 2017, pennies made in Philadelphia had a “P” mint mark for the first time.
What is the rarest Canadian penny? ›
1. 1936 Canadian Dot Penny. One of the most valuable Canadian coins of all is the 1936 Dot cent, an outcropping of production logistics in the face of unforeseen royal drama on the British throne. King George V died in January 1936 and his son King Edward VIII was in line to ascend to the throne.
Canadian one-cent coins have two maple leaves on them. The maple leaf is the national symbol of Canada.
How much is a Canadian penny worth in the US? ›
Officially, a Canadian penny is worth zero in the States. But, you can usually easily enough put in one or two when making a purchase in the U.S. and nobody notices. Store clerks don't scrutinize pennies.
Which Canadian pennies are worth keeping? ›
Canadian Penny Values – Small Cents
| Date MM | Mintage | Very Fine |
|---|
| 1955 N S F | Included | $225 |
| 1965 #4, Lg Beads, Ptd 5 | Included | $20 |
| 1985 Ptd 5 | Included | $20 |
| 2006 Magnetic | 222 | $25 |
6 more rowsNov 7, 2023
The modern 1-cent coin features two maple leaves on the same twig. The design, created by G.E. Kruger-Gray, was first used in 1937 and remained unchanged with one exception: in 1967, a rock dove designed by renowned Canadian artist Alex Colville appeared on the reverse to celebrate Canada's Centennial.
What to do with old Canadian pennies? ›
Canadians can redeem their pennies at their financial institution. Financial institutions may require that pennies be properly rolled.
What does P proof mean in coins? ›
Proof Coins: Are the finest quality of coin produced by the United States Mint. The term "proof" refers to the coin's finish. Proof blanks are specially treated, hand-polished, and cleaned to ensure high-quality strikes. The blanks are then fed into presses fitted with specially polished dies and struck at least twice.
How do you tell the grade of a Canadian coin? ›
That value is based on a scale of 1 to 70, with 70 (or Mint State/MS-70) being the mark of perfection. A Canadian coin's lustre (that “freshly minted” shine), its level of preservation and the quality of the strike (the sharpness of the engraving) will determine its “score” under this system.
