1912 Penny Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1912 Penny value ranges from $0.01 face value to $38,400. That record was set by a Grade 67 example sold through Heritage Auctions in January 2025. Upload a photo of yours below and we’ll give you a quick value range. You can also scroll down to check recent eBay sales and see what collectors are paying today.

 

1912 Penny Value By Variety

Not all 1912 pennies are created equal. Grading and color designation make a huge difference in what yours is worth.

One critical grading factor for Lincoln cents is color designation: BN (Brown) means most original copper luster has faded; RB (Red-Brown) means the coin still retains significant original color; RD (Red) means the coin is full, blazing copper-red — and these are far more valuable. A full Red example can be worth 5 to 10 times more than a Brown coin of the same numeric grade.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1912 Penny Worth Money

The coin sitting at the top of this list is a 1912-D graded MS67 RD. It sold for $38,400 at Heritage Auctions on January 19, 2025. Finding a Denver penny from 1912 in that kind of condition is almost unheard of — most were poorly struck and heavily circulated. This one survived in near-perfect shape with full original red color, and collectors fought hard for it.

A Philadelphia MS66 RD trails close behind at $37,600, proving that even the “common” mint can bring serious money at the top of the grading scale. San Francisco issues show up repeatedly in the top ten, which makes sense given their semi-key status. A 1912 Philadelphia MS67 RD also realized $21,850 at Bowers & Merena in August 2006, and a 1912-S MS65 RD brought $27,600 at Heritage Auctions in May 2003. Demand for these early branch mint Lincolns hasn’t faded one bit.

Also Read: Lincoln Wheat Penny Value (1909-1958)

 

History of the 1912 Penny and Its Design Origins

By 1912, the Lincoln Wheat Cent was in its fourth year of production. The design came about because President Theodore Roosevelt thought American coins looked boring compared to ancient Greek and Roman pieces. He wanted an artistic overhaul.

Roosevelt originally tapped sculptor Augustus Saint-Gaudens for the job, but Saint-Gaudens passed away after finishing the gold coin redesigns. The Mint then turned to Victor David Brenner, whose celebrated Abraham Lincoln plaque made him the perfect choice for the cent — just in time for Lincoln’s birth centennial in 1909.

The Lincoln cent was the first U.S. coin to feature a real historical person. Fun detail: Brenner’s “VDB” initials caused such an uproar when they first appeared on the 1909 reverse that the Mint yanked them off. They wouldn’t return until 1918. So 1912 pennies have that cleaner reverse design.

Total 1912 mintage hit roughly 82.9 million pieces. Sounds like a lot, but compare that to 2012 when U.S. mints cranked out over 12 billion cents. That’s why well-preserved 1912 pennies are genuinely hard to find today. The 1912 date also ranks as the 10th lowest combined mintage among all Lincoln Wheat cent date and mint mark combinations.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1912 Penny Value Rare? Check Rarity Here

To quickly determine your coin’s exact rarity ranking and current market value, use our Coin Identifier and Value App for instant authentication and appraisal.

 

Key Features of the 1912 Penny Coin

In numismatics (the study and collecting of coins), the heads side of a coin is called the obverse, the tails side is the reverse, and the thin side is the edge. The words on a coin are called mottos or legends, the images are called devices, and the background is the field. The blank discs before they’re struck are called planchets.

The Obverse Of The 1912 Penny

Lincoln faces right in profile. “In God We Trust” arches above his head, and “Liberty” sits behind his back near the rim.

Look in front of Lincoln’s chest — that’s where you’ll find the date and the mint mark. On some Lincoln cents, Brenner’s initials show up on the shoulder cut-off, but not here. The “VDB” wasn’t restored until 1918, so 1912 pennies are clean in that spot.

The Reverse Of The 1912 Penny

Flip it over and you’ll see two stalks of durum wheat curving along the left and right rims — that’s where the “Wheat Penny” nickname comes from. Up top, between the wheat tips, is “E Pluribus Unum.”

“One Cent” is spelled out in the center, with “United States of America” below. This reverse design ran unchanged from 1909 through 1958, when the Lincoln Memorial replaced it.

Other Features Of The 1912 Penny Value Coin

The 1912 Lincoln cent is 95% copper, with the remaining 5% split between zinc and tin. That alloy made the coin harder and helped it resist turning green.

These pennies measure 19.05 mm (0.75 inches) in diameter, have a smooth (plain) edge with no reeds, and weigh 3.11 grams. Philadelphia-struck pennies from 1912 carry no mint mark — these are often labeled as “1912 (P)” coins in collector catalogs.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1912 Penny: Mintage & Survival Data

Philadelphia pumped out about 68.2 million coins, Denver added 10.4 million, and San Francisco made just 4.4 million. Only 2,145 matte proofs were struck for collectors.

Here’s the wild part: despite Philadelphia’s massive head start, only about 2,500 examples survive in collectible condition. That’s a survival rate of 0.0037%. Think about it — for every 27,000 pennies struck, roughly one made it to today in decent shape. Denver does slightly better at 0.0144%.

Proofs are a different story. About 100 survive from the original 2,145, giving them a 4.66% survival rate. Collectors bought those directly from the Mint and tucked them away, so they never saw a cash register.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1912 Penny Value

Start by checking right beneath the date for a mint mark. No mark means Philadelphia, “D” means Denver, and “S” means San Francisco.

Next, assess your coin’s condition. Look closely at Lincoln’s portrait — is the hair detail above his ear still visible? Can you see the separation of his bowtie? Sharp, well-preserved details mean a higher grade and a higher value.

A Philadelphia penny ranges from about 20 cents in heavily worn grades up to $35 in average uncirculated condition. The scarcer Denver version can reach $150 in top uncirculated grades, and San Francisco examples start significantly higher across the board.

Save time researching by using our Coin Identifier and Value App — simply photograph your coin for instant grading and accurate market pricing based on current data.

 

1912 Penny Value Guides: All Four Varieties Explained

Four versions of the 1912 Lincoln cent exist, each from a different mint operation.

Philadelphia handled the bulk production, Denver and San Francisco ran smaller operations, and a tiny batch of matte proofs was made for collectors. Those output differences are exactly why some varieties are so much harder to find than others.

The four main types of 1912 pennies are:

• 1912 No Mint Mark (Philadelphia Mint regular strike)
• 1912-D (Denver Mint strike)
• 1912-S (San Francisco Mint strike)
• 1912 Proof (Philadelphia Mint matte proof)

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1912 No Mint Mark Penny Value

Most collectors assume the Philadelphia issue is easy to find. In circulated grades, sure — you’re looking at $2.20 to $28. But try finding one in uncirculated condition with full original red color. That’s a completely different hunt.

Philadelphia had the best die-making equipment and striking conditions of any facility in 1912. The result? Generally sharper detail and better luster than what the branch mints produced.

Color is everything with this variety. A full Red (RD) coin commands enormous premiums over a Brown (BN) piece at the same numeric grade. The auction record is an MS67 RD that sold for $21,850 at Bowers & Merena in August 2006. That’s what happens when registry set collectors go after a top-pop coin.

Worth noting: some 1912 Philadelphia pennies show Doubled Die Obverse (DDO) varieties on the lettering. No major doubled die has been formally cataloged for this date, but always check under magnification. Look at the date digits, the lettering, and Lincoln’s profile for any trace of doubling.

The chart clearly shows that the price performance of different grades in the auction varies greatly.

Additionally, current market activity reflects sustained numismatic engagement across multiple collecting segments.

 

1912-D Penny Value

$38,400. That’s what the finest known 1912-D brought at auction — a PCGS MS67 RD that sold at Heritage Auctions on January 19, 2025. It’s the highest publicly reported price for any 1912 cent, period.

Denver was only in its second year of penny production in 1912. Just 10.4 million pieces came off the presses — about 6.5 times fewer than Philadelphia. That makes the 1912-D a semi-key date, often mentioned alongside the 1913-D in terms of rarity.

Here’s the catch: Denver’s newer equipment produced inconsistent strikes. Many 1912-D coins show mushy detail on Lincoln’s hair and weak wheat stalks. Cherrypicking is a must with this variety. Take your time and find the sharpest strike you can.

Some 1912-D pennies also show Repunched Mint Mark (RPM) varieties — the “D” was stamped twice at slightly different angles. These carry a premium. Brown examples in higher grades bring moderate premiums, Red-Brown pieces jump considerably, and full Red coins sit at the top of the price scale. I think the 1912-D in RD is one of the most underrated semi-keys in the whole Wheat series.

Auction records tell the story of how collectors chase this variety across every grade level.

The 1912-D has always been a collector favorite, and the market activity chart below shows it.

 

1912-S Penny Value

Think you’ll stumble across a nice 1912-S at a coin show? Good luck. With a mintage of just 4,431,000 pieces, this is the 8th lowest mintage among all Lincoln Wheat cents. It’s a true semi-key.

Even beat-up, heavily worn examples sell for real money. Mint State Brown coins — the kind you’d normally pass over in other series — go for hundreds of dollars here because so few survived uncirculated.

PCGS population data tells the story at the top end. The finest known 1912-S cents are graded MS-66 RD, and only 14 have been graded at this level by PCGS, with just 1 at NGC. In higher grades, full Red examples can reach values upward of $27,000. We consider the 1912-S one of the most solid semi-key Lincolns to hold long-term. Limited supply in upper grades, steady demand, and well-documented rarity make it a coin that’s unlikely to lose ground.

Here’s how prices have played out across different grades at auction.

Collector interest in the 1912-S stays strong. The market activity chart below tracks that demand.

 

1912 Proof Penny Value

Ever wonder why early Lincoln proof pennies look so different from later ones? Lincoln cents have a rounded, curved surface that made it impossible to polish dies into a mirror-like “brilliant proof” finish. So the Mint used a matte proof (also called sandblasted proof) technique instead.

Both the die and the planchet were sandblasted to create a fine, granular texture across the entire surface. After striking, these coins were often stored in sulphur-infused tissue paper. That paper sometimes produced beautiful natural toning effects that collectors still prize today.

You can spot a 1912 matte proof by three things: squared-off rims, a steeper inner drop-off at the rim edge, and sometimes a tiny fin or raised ridge on the outer rim. Regular business strikes have softer, more rounded rims.

Only 2,145 matte proof pennies were produced at Philadelphia in 1912 — compared to 68+ million business strikes. That’s the 6th lowest mintage in the entire Matte Proof Lincoln cent series from 1909 to 1916.

Top-grade rarity is extreme. PCGS data confirms that as of 2010, only a single coin had been graded PR66 Red or higher. Red proofs are tough to find at PR64 RD, rare at PR65 RD, and essentially unique at PR66 RD or above.

If you’re buying or selling any matte proof Lincoln cent, PCGS or NGC certification is a must. Don’t buy one raw — the risk is too high.

These auction records give you a clear picture of how scarce and valuable the 1912 proof penny really is.

Market activity is updated regularly in the chart below.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1912 Penny Errors: Full Error List

Mint presses cranked out hundreds of coins per minute in 1912, so mistakes happened. Some of those mistakes make your coin worth a lot more. Here’s what to look for.

1. 1912-S/S Penny — Repunched Mint Mark (RPM)

Back in 1912, mint marks were punched into dies by hand. If the punch slipped or got hit twice, you ended up with doubling.

On the 1912-S/S, the “S” was punched a second time at a slightly different position. Look for a faint secondary “S” peeking out from beneath the primary mark. Here’s the kicker: no 1912-S/S examples have been graded above MS-63 in Red (RD) by either PCGS or NGC. That makes any Red example in this variety a serious find. A VF35 example sold for $46 in 2018.

2. 1912-D Penny — Repunched Mint Mark (RPM)

Denver had the same hand-punching issue. Some 1912-D pennies show the “D” stamped twice in slightly different positions, leaving a shadow or partial second letter.

These RPM varieties don’t get as much press as the 1912-S/S, but they carry a clear premium. Grab a loupe — at least 5x magnification — and compare your “D” to reference images in a variety catalog. You might be sitting on a cherrypick.

3. 1912-S Penny — Inconsistent Obverse Strike (LDS)

San Francisco ran their dies hard. Budget pressures meant dies stayed in service way longer than they should have. The result: 1912-S coins fall into EDS (Early Die State) and LDS (Late Die State) categories.

On Late Die State coins, the right side of the obverse looks noticeably softer. The “2” in “1912” and the letters “US” in “Trust” may appear blurry or incomplete. Sometimes the final “T” in “Trust” vanishes entirely. LDS examples are generally worth less than EDS coins at the same grade.

4. 1912-D Penny — Over-Polished Late Die State (LDS)

Denver’s Late Die State coins sometimes show mild die cracks across the surface. When the Mint re-polished dies to sharpen them up, the process eroded metal — especially on the lower right of the coin, affecting the rim, Lincoln’s neck, and his lapel.

The lettering on these LDS coins looks bloated or spread, particularly “Liberty” and “God We.” If you enjoy studying die progression, this is a fun variety to collect.

5. 1912 Penny — Off-Center Strikes

Some 1912 pennies were struck off-center, leaving a blank crescent on one side.

A 5–10% off-center strike adds a modest $5–$10 premium. But a 1912 penny that’s 50% or more off-center — with the complete date still showing — can sell for hundreds. The date has to be visible. No date, no big premium.

6. 1912 Penny — Die Cud Breaks

As dies age and crack, pieces sometimes chip away completely. That creates a cud — a raised, blob-like lump on the coin’s surface at the rim. Major die cuds on 1912 pennies can add over $100 in value. Small die chips or hairline cracks add only $1–$2, but they’re still worth noting.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where To Sell Your 1912 Penny

Working with reputable coin dealers, established auction houses, or specialized online platforms is the best path to maximizing your 1912 penny’s value. Professional authentication and grading through PCGS or NGC are essential steps before selling any coin worth more than $100.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1912 Penny Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1912 Penny

1. How much is my 1912 penny worth in 2026?

It depends on the mint mark and condition. A circulated Philadelphia penny (no mint mark) runs $2–$28 depending on wear.

A 1912-D penny in circulated grades runs $11–$32, while the 1912-S starts at around $19–$28 and climbs steeply in higher grades. In top uncirculated condition with full Red color, values can reach $38,400 for a 1912-D or over $27,000 for a 1912-S.

2. What is the rarest 1912 penny variety?

The 1912 Matte Proof in full Red (PR66 RD or higher). PCGS had certified only one coin at this level as of 2010.

Among business strikes, the 1912-S in MS66 RD is the finest known circulation strike, with only 14 certified by PCGS and 1 by NGC at that grade worldwide.

3. What makes the 1912-S penny so valuable?

Low mintage — just 4,431,000 pieces, the 8th lowest among all Lincoln Wheat cents. Most went straight into circulation and wore down fast.

Today, even a heavily circulated 1912-S sells for a meaningful premium because so few survive in any collectible condition. In Mint State, finding one with full Red color is a genuine rarity commanding four-figure to five-figure prices.

4. What does the color designation mean on a 1912 penny?

Copper coins are graded not just by wear, but by how much of their original red color remains. BN (Brown) means most luster is gone. RB (Red-Brown) means a significant portion of original copper color is still visible. RD (Red) means the coin has nearly all of its brilliant original copper-red color.

This color difference has a massive impact on value. A full Red (RD) 1912 penny can be worth 5 to 10 times more than a Brown (BN) coin of the exact same numeric grade. Never clean a penny trying to restore its color — cleaning permanently destroys value and is immediately detected by dealers and graders.

5. Are there valuable 1912 penny errors?

Yes. The best-known is the 1912-S/S Repunched Mint Mark (RPM), where the “S” was hand-punched twice in slightly different positions. No examples have been graded above MS-63 in Red, making even lower-grade Red versions quite valuable.

The 1912-D also has its own RPM variety. Off-center strikes, die cud breaks, and Late Die State (LDS) weakness errors all add premiums too. Always check your 1912 pennies under magnification.

6. How can I tell if I have a fake 1912-S penny?

The most common fake is made by altering a 1944-S penny — filing the left side of the first “4” to make it look like a “1.” The giveaway is the spacing: on a genuine 1912 penny, the four digits of the date are evenly spaced. On an altered coin, you’ll see a noticeably wider gap between the “9” and “12.”

Buy slabbed. Only purchase certified examples in PCGS or NGC holders. Those coins have been examined by professional authenticators and can’t be altered once sealed.

7. What is a 1912 matte proof penny, and how is it different from a regular 1912 penny?

A matte proof is a specially made collector’s coin. In 1912, the Philadelphia Mint produced only 2,145 of them by sandblasting both the die and the planchet to create a fine, granular texture across the entire surface.

You can identify a matte proof by three things: its squared-off rims, a steeper inner drop-off at the rim edge, and sometimes a tiny fin or raised ridge on the outer rim. Regular business strikes have softly rounded rims by comparison.

8. What was the highest auction price ever paid for a 1912 penny?

$38,400 — a 1912-D graded PCGS MS67 RD, sold at Heritage Auctions on January 19, 2025.

Other notable sales include a 1912 Philadelphia MS67 RD that realized $21,850 at Bowers & Merena in August 2006, and a 1912-S MS65 RD that brought $27,600 at Heritage Auctions in May 2003. All three records show how aggressively collectors pursue the finest known examples.

9. Should I clean my 1912 penny before selling it?

Never. Cleaning removes original surfaces and creates microscopic scratches visible under magnification. Even a gentle wipe with a soft cloth can permanently cut a coin’s value by 50–70%.

PCGS and NGC can immediately detect cleaning, and cleaned coins get a “Details” designation that tanks their marketability. The natural patina and toning on old coins is part of their authenticity and value — leave it alone.

10. Is the 1912 penny a good investment in 2026?

For long-term holders, the 1912-S and the finest 1912-D examples look strong. The 1912-S has everything you want in a semi-key: limited supply in upper grades, steady collector demand, and well-documented rarity.

Certified MS-65 Red Wheat pennies have climbed steadily over the past decade, and fewer high-grade survivors come to market each year. Buy the best-graded example you can afford, slabbed by PCGS or NGC, and you’re in good shape for both collectibility and resale.