Appraisily

October 17, 2023

1911 Penny Value Guide: What's Your Lincoln Wheat Cent Worth?

Discover the true value of your 1911 penny, from common specimens worth a few dollars to rare varieties that can fetch thousands at auction.

1911 Lincoln Wheat Penny showing obverse with Lincoln profile and reverse with wheat stalks design
By Appraisily Team Last updated October 17, 2023
<h2 class="section-header__title"> 
<span>Introduction to the 1911 Lincoln Wheat Penny</span>

</h2>

<div class="section-header__body">The 1911 Lincoln Wheat Penny represents an important early issue in one of America&rsquo;s most beloved coin series. As the third year of production for the Lincoln cent design, these copper coins have become increasingly collectible over time. Whether you&rsquo;ve discovered one in an old coin jar or are actively building a collection, understanding what your 1911 penny is worth can be both fascinating and potentially profitable.</div>

In this comprehensive guide, we’ll explore the factors that determine a 1911 penny’s value, from mint marks to condition, and identify the rare varieties and errors that can make these seemingly modest coins worth hundreds or even thousands of dollars.

1911 Penny Key Facts

<h2 class="section-header__title"> 
<span>1911 Penny Background and History</span>

</h2>

<div class="section-header__body">The Lincoln cent was introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln&rsquo;s birth. Designed by Victor David Brenner, it was the first U.S. circulating coin to feature a real person rather than the symbolic figure of Liberty. By 1911, the design had become firmly established in American pockets and purses.</div>

Lincoln Wheat Penny Historical Timeline

  1. 1909

    Introduction of Lincoln Cent

    The Lincoln cent debuted, featuring Brenner’s profile of Lincoln on the obverse and two wheat stalks on the reverse. Early versions included the designer’s initials “VDB” on the reverse.
  2. 1911

    Third Year of Production

    The U.S. Mint produced Lincoln cents at three facilities: Philadelphia (no mint mark), Denver (D), and San Francisco (S), with significantly different mintages affecting today’s rarity.
  3. 1958

    End of Wheat Reverse

    The wheat stalk reverse design was replaced with the Lincoln Memorial design, making all Wheat cents, including 1911 issues, obsolete and increasingly collectible.

Production of the 1911 penny took place at three different U.S. Mint facilities, each contributing to the coin’s availability and value today:

  1. Philadelphia Mint - Produced 101,177,787 pennies with no mint mark
  2. Denver Mint - Struck 12,672,000 pennies with a “D” mint mark
  3. San Francisco Mint - Created 4,026,000 pennies with an “S” mint mark

Additionally, the Philadelphia Mint produced 1,725 proof specimens for collectors, which carry significantly higher values today.

<h2 class="section-header__title"> 
<span>Features of the 1911 Lincoln Wheat Penny</span>

</h2>

<div class="section-header__body">Understanding the distinguishing features of a 1911 penny is essential for proper identification and valuation. These coins share the same basic design elements as other Lincoln Wheat cents, but with specific details unique to this year.</div>

Obverse (Front) Design

The obverse features a right-facing bust of Abraham Lincoln with the following text:

  • “IN GOD WE TRUST” across the top
  • “LIBERTY” to the left of Lincoln’s portrait
  • The date “1911” to the right
  • Mint mark (if present) appears beneath the date

Reverse (Back) Design

The reverse showcases the iconic “wheat penny” design:

  • “ONE CENT” prominently displayed in the center
  • “UNITED STATES OF AMERICA” arched above
  • “E PLURIBUS UNUM” beneath that
  • Two wheat stalks framing the text on both sides

Physical Specifications

  • Composition: 95% copper, 5% tin and zinc
  • Weight: 3.11 grams
  • Diameter: 19 mm
  • Edge: Plain (smooth)
<h2 class="section-header__title"> 
<span>1911 Penny Values by Type and Condition</span>

</h2>

<div class="section-header__body">The value of a 1911 penny varies significantly based on its mint mark and condition. While even circulated examples hold value above face value, specimens in pristine mint state can command impressive premiums.</div>

1911 Philadelphia (No Mint Mark) Penny Value

The Philadelphia Mint produced the highest number of 1911 pennies, making them the most commonly found. Here’s what they’re typically worth:

1911 Philadelphia Penny Values

Current market values based on condition

  </tbody>
</table>

Record prices for 1911 Philadelphia pennies in pristine condition (MS-67 or higher) can reach several thousand dollars. In 2019, a superb example sold for $3,290 at auction.

1911-D (Denver) Penny Value

With a lower mintage, Denver Mint pennies from 1911 are more valuable:

1911-D Denver Penny Values

Current market values based on condition

Category Price Notes
Good (G-4) $0.45-$0.75 Heavily worn with visible rims
Very Good (VG-8) $0.75-$1.50 Moderate wear, most details visible
Fine (F-12) $2-$3 Light wear, all major details clear
Extremely Fine (EF-40) $5-$7 Slight wear on high points only
Mint State (MS-60) $35-$45 No wear but may have marks or poor luster
Mint State (MS-65) $200-$250 Gem quality with excellent luster and minimal marks
Proof $300-$500 Special collector strikes with mirror-like fields 
  </tbody>
</table>

1911-S (San Francisco) Penny Value

With the lowest mintage of the three varieties, San Francisco pennies are the most valuable regular-issue 1911 cents:

1911-S San Francisco Penny Values

Current market values based on condition

Category Price Notes
Good (G-4) $5-$7 Heavily worn with visible "D" mint mark
Very Good (VG-8) $7-$12 Moderate wear, most details visible
Fine (F-12) $15-$20 Light wear, all major details clear
Extremely Fine (EF-40) $45-$55 Slight wear on high points only
Mint State (MS-60) $85-$100 No wear but may have marks or poor luster
Mint State (MS-65) $500-$750 Gem quality with excellent luster and minimal marks 
  </tbody>
</table>

High-grade 1911-S pennies are particularly sought after, with record sales exceeding $10,000 for perfect specimens.

Notable 1911 Penny Auction Results

Recent high-value sales of 1911 Lincoln cents

Category Price Notes
Good (G-4) $45-$55 Heavily worn with visible "S" mint mark
Very Good (VG-8) $55-$65 Moderate wear, most details visible
Fine (F-12) $65-$75 Light wear, all major details clear
Extremely Fine (EF-40) $80-$95 Slight wear on high points only
Mint State (MS-60) $225-$275 No wear but may have marks or poor luster
Mint State (MS-65) $1,500-$2,000 Gem quality with excellent luster and minimal marks 
  </tbody>
</table>
<h2 class="section-header__title"> 
<span>Color Designations and Their Impact on Value</span>

</h2>

<div class="section-header__body">For Lincoln cents, color is a critical factor in determining value. Three color designations are used by professional grading services:</div>
  1. Red (RD): Coins that retain 95% or more of their original mint luster and copper-red color
  2. Red-Brown (RB): Coins with 5-95% of their original red color
  3. Brown (BN): Coins that have lost most of their original red color

The color designation dramatically affects value, with red specimens commanding significant premiums:

Example of a 1911 penny with red color designation

For example, a 1911 penny in MS-65 condition might be valued at:

  • MS-65 Brown: $125-$150
  • MS-65 Red-Brown: $150-$180
  • MS-65 Red: $200-$250

This color premium becomes even more pronounced with the scarcer Denver and San Francisco issues.

<h2 class="section-header__title"> 
<span>Valuable 1911 Penny Errors and Varieties</span>

</h2>

<div class="section-header__body">Error coins often carry significant premiums over their regular counterparts. The 1911 penny has several known error varieties that collectors eagerly seek.</div>

1. Doubled Die Errors

Doubled die errors occur during the die manufacturing process, resulting in a doubling of certain design elements. On 1911 pennies, look for doubling in:

  • The date
  • “LIBERTY” inscription
  • Lincoln’s ear or bowtie

Depending on the prominence of the doubling and the coin’s condition, these errors can add anywhere from $50 to several hundred dollars to the value.

2. Repunched Mint Marks

Repunched mint marks (RPM) show evidence of the mint mark being punched multiple times, slightly offset from each other. For 1911-D and 1911-S pennies, RPM errors can double or triple the coin’s value.

3. Off-Center Strikes

Off-center strikes occur when the planchet is not properly centered during striking. Values vary based on the percentage off-center and whether the date is visible:

  • 5-10% off-center: $15-$30
  • 20-50% off-center with visible date: $50-$150
  • 50%+ off-center with visible date: $150-$300

4. “L” of Liberty on Rim Error

A particularly interesting error mentioned in some sources is a 1911 penny where the “L” of LIBERTY touches or extends to the rim. This variety can command premiums depending on the prominence of the error.

1911 penny showing an error variant with unique features

<h2 class="section-header__title"> 
<span>How to Determine Your 1911 Penny&#39;s Value</span>

</h2>

<div class="section-header__body">To accurately assess your 1911 penny&rsquo;s value, follow these steps to evaluate its key attributes:</div>

1911 Penny Valuation Checklist

Use this checklist to assess your coin's value factors

  • Check for mint mark (none, D, or S) beneath the date
  • Assess overall condition and grade (G, VG, F, EF, MS)
  • Evaluate color (Brown, Red-Brown, or Red)
  • Examine for errors (doubled die, off-center, etc.)
  • Check for artificial cleaning or damage

Authentication and Grading

For 1911 pennies in exceptional condition or with potential errors, professional grading can be worthwhile. Services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) provide:

  1. Authentication of genuine coins
  2. Professional grade assignment
  3. Color designation
  4. Error/variety attribution
  5. Protective holder (“slab”) to preserve condition

Professional grading typically costs $20-$30 per coin but can significantly increase marketability and value for better specimens.

<h2 class="section-header__title"> 
<span>Buying and Selling 1911 Pennies</span>

</h2>

<div class="section-header__body">Whether you&rsquo;re looking to add a 1911 penny to your collection or sell one you already own, understanding the market dynamics can help you make informed decisions.</div>

Where to Buy 1911 Pennies

  1. Coin Dealers: Local coin shops often have inventory of common dates like 1911 Philadelphia pennies
  2. Online Marketplaces: eBay, Heritage Auctions, and Great Collections regularly auction 1911 pennies
  3. Coin Shows: Events where dealers gather to buy, sell, and trade coins
  4. Collector Forums: Online communities like CoinTalk where collectors trade directly

Where to Sell 1911 Pennies

  1. Direct to Collectors: Often yields the best prices but requires networking
  2. Coin Dealers: Offer immediate payment but at wholesale prices (typically 50-70% of retail)
  3. Consignment Auctions: Heritage, Stack’s Bowers, and other auction houses for valuable specimens
  4. Online Listings: eBay and similar platforms allow reaching a wide audience

Tips for Buyers and Sellers

  • For Buyers: Always verify authenticity, especially for higher-priced coins
  • For Sellers: Consider professional grading for any 1911 penny in Extremely Fine or better condition
  • For Both: Research recent comparable sales to establish fair market value
<h2 class="section-header__title"> 
<span>Preserving Your 1911 Penny</span>

</h2>

<div class="section-header__body">Proper storage is crucial for maintaining both the condition and value of your 1911 penny. Follow these guidelines to ensure your coin remains preserved.</div>

Storage Recommendations

  1. Coin Holders: Use inert, PVC-free holders like Mylar flips or hard plastic capsules
  2. Albums and Folders: Quality numismatic albums provide organization and protection
  3. Environmental Control: Store in low-humidity environments with stable temperatures
  4. Handling Practices: Hold coins by their edges only, and consider using cotton gloves

What to Avoid

  1. Paper Envelopes: Can contain acids that damage coins over time
  2. PVC Flips: Release damaging plasticizers that cause “green slime” on coins
  3. Cleaning: Never clean your coins as this significantly reduces their value
  4. Excessive Handling: Skin oils and potential drops can damage or degrade coins

Common Questions About 1911 Penny Values

What makes a 1911 penny rare?

The rarity of a 1911 penny is primarily determined by three factors:

  1. Mint Mark: The San Francisco (S) mint produced the fewest 1911 pennies, making them the rarest of the regular issues, followed by Denver (D) pennies. Philadelphia pennies (no mint mark) are the most common.

  2. Condition: Uncirculated examples, particularly those with full original red color, are exceptionally rare as most pennies from this era entered circulation.

  3. Errors and Varieties: Doubled dies, repunched mint marks, and off-center strikes are rare manufacturing errors that can significantly increase a 1911 penny’s value.

Additionally, proof specimens (1,725 minted) are inherently rare as they were specifically made for collectors and not for general circulation.

How much is a 1911 penny worth with no mint mark?

A 1911 penny with no mint mark (from the Philadelphia Mint) typically ranges in value from:

  • $0.45 to $0.75 in Good (G-4) condition
  • $2 to $3 in Fine (F-12) condition
  • $5 to $7 in Extremely Fine (EF-40) condition
  • $35 to $45 in Mint State (MS-60) condition
  • $200 to $250 in Gem Mint State (MS-65) condition

The value can increase dramatically for coins with original red color or exceptional preservation. For instance, a perfect MS-67+ Red specimen sold for $3,290 at auction in 2019. Proof versions, which have mirror-like fields, generally sell for $300 to $500.

What are the most valuable 1911 penny errors?

The most valuable 1911 penny errors include:

  1. Major Doubled Die Obverse: Where significant doubling appears in the date, LIBERTY, or Lincoln’s features, these can sell for $500-$2,000 depending on condition.

  2. Significant Off-Center Strikes: Pennies struck 50% or more off-center while still showing the complete date can command $150-$300.

  3. Repunched Mint Marks: Particularly on the scarcer 1911-S, these can add 50-100% to the coin’s value.

  4. Wrong Planchet Errors: Extremely rare cases where a 1911 cent was struck on a planchet intended for another denomination can sell for thousands.

  5. “L” on Rim Error: Where the L in LIBERTY extends to or touches the rim can add a premium depending on the prominence of the error.

Is it worth getting my 1911 penny professionally graded?

Professional grading is typically worth considering for your 1911 penny if:

  1. It appears to be in Extremely Fine (EF-40) or better condition
  2. It has substantial original red color
  3. It’s a scarcer variety (1911-D or 1911-S)
  4. You’ve identified a potential valuable error

Professional grading costs approximately $20-$30 per coin plus shipping and insurance. For common 1911 Philadelphia pennies in circulated condition, the grading cost would likely exceed any added value. However, for better specimens, professional certification can:

  • Confirm authenticity
  • Establish an objective grade
  • Properly attribute any varieties or errors
  • Enhance marketability and potentially value

For any 1911 penny that might be worth over $100, professional grading is generally recommended.

How do I tell if my 1911 penny is copper or bronze?

All genuine 1911 pennies are made of bronze, which is an alloy primarily composed of copper. Specifically, 1911 Lincoln cents were minted with a composition of:

  • 95% copper
  • 5% tin and zinc

This bronze composition gives the coins their distinctive reddish-brown color when new, which typically darkens to brown over time. The weight of a genuine 1911 penny should be approximately 3.11 grams.

If your coin appears to be a different color (such as silver or gold), it has likely been plated after leaving the mint. Such altered coins generally have reduced collector value compared to unaltered specimens.

The U.S. Mint did not change the composition of the penny to zinc until 1982, long after the Wheat cent design had been replaced.

External Resources for 1911 Penny Values

<h2 class="section-header__title"> 
<span>Conclusion: Is Your 1911 Penny a Hidden Treasure?</span>

</h2>

<div class="section-header__body">The 1911 Lincoln Wheat Penny represents both an important historical artifact and a potentially valuable collectible. While most examples in circulated condition are worth modest sums, certain varieties and high-grade specimens can be worth hundreds or even thousands of dollars.</div>

The key factors that determine your 1911 penny’s value are:

  1. Mint Mark: San Francisco (S) and Denver (D) issues are worth significantly more than Philadelphia (no mint mark) pennies.

  2. Condition: Uncirculated coins with original mint luster command substantial premiums, especially those with full red color.

  3. Errors and Varieties: Doubled dies, repunched mint marks, and other striking errors can multiply a coin’s value.

Whether you’re a seasoned numismatist or someone who just discovered a 1911 penny in an old collection, taking the time to properly identify and evaluate your coin can be both rewarding and potentially profitable. Remember that proper storage and handling are essential to preserving both the historical significance and monetary value of these century-old pieces of American history.

If you believe you have a particularly valuable specimen, consider consulting with a professional numismatist or having your coin authenticated and graded by a reputable service like PCGS or NGC. For most collectors, however, the real value of a 1911 penny lies in the tangible connection it provides to our nation’s past.

Item Price Date Auction House
1911-S MS-67 Red $16,450 January 2020 Heritage Auctions
1911 MS-67+ Red $3,290 August 2019 Stack's Bowers
1911-D MS-66 Red $4,700 April 2021 Heritage Auctions
1911 Proof-67 Red Cameo $5,875 February 2022 Legend Rare Coin Auctions