1912 Penny Value (Errors List, “D”, “S” & No Mint Mark Worth)

Ten-year-old Ethan Parker found a weathered penny in his grandfather’s attic that would soon change his family’s life forever. Such stories aren’t fairy tales; from garage sales to dusty attics, extraordinary treasures continue surfacing in the most ordinary places.

Yet most people walk past these opportunities every day. Most collectors overlook the 1912 penny, assuming it’s just another common wheat cent. That’s a costly mistake.

The difference lies in understanding what makes certain coins valuable. While a standard 1912 penny starts at $4.50 in Good condition, the scarcer Denver mint version jumps to $60.03 in Fine grade. For the ultimate prize, proof specimens command an extraordinary $1,716—proving that understanding mint marks and preservation quality transforms loose change into serious money.

 

1912 Penny Value By Variety

Values among 1912 penny types vary dramatically—some trade for mere cents, while others command thousands. Grading plays a decisive role, distinguishing everyday pieces from true collectibles and highlighting how subtle differences can carry significant financial weight.

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

This ranking demonstrates the dramatic impact of condition and mint mark on 1912 penny valuations.

The 1912-D MS67 leads at $38,400, while the regular 1912 MS66 follows closely at $37,600, showcasing how even slight grade differences can mean thousands of dollars in value. San Francisco issues consistently command strong premiums throughout the top tier, reflecting their semi-key status within the Lincoln Wheat series.

The presence of multiple Denver and San Francisco variants in the top positions underscores the enduring appeal of branch mint issues among serious collectors.

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

 

History of The 1912 Penny

The early 1900s marked a turning point in American coinage design. President Theodore Roosevelt, believing American coins lacked artistic beauty, enlisted sculptor Augustus Saint-Gaudens to redesign U.S. coinage.

Unfortunately, Saint-Gaudens was terminally ill with cancer and passed away after completing the gold pieces. At Roosevelt’s urging, the Mint turned to Victor David Brenner, whose Abraham Lincoln plaque for Gorham Manufacturing proved decisive for the centennial celebration.

By 1912, the Lincoln wheat cent was in its fourth year of production. The U.S. Mint struck 82,995,205 pennies that year across three facilities. The controversial VDB initials had been removed from the reverse in late 1909 after public criticism, creating a cleaner design that would endure.

These coins circulated against the backdrop of a rapidly expanding American economy and a society on the cusp of World War I. Within that context, the San Francisco issue’s lower mintage stood out, proving harder to locate in higher grades and establishing an early pattern of scarcity that continues to influence collector interest today.

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

 

Is your 1912 Penny rare?

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

 

Key Features of The 1912 Penny

In numismatics, the heads side of a coin is called the obverse, the tails side is the reverse, and the thin side is the edge. This edge has a raised border called a rim or collar and sometimes has ridges called reeds. The words on a coin are referred to as mottos or legends, the images as devices, and the background as the field. The blank discs that make coins are planchets.

The Obverse Of The 1912 Penny

It shows President Abraham Lincoln facing right. The motto In God We Trust is above his head and the legend Liberty is behind his back. In front of his chest, you’ll see the mint date and the mint mark. On some coins, a set of initials engraved on his shoulder cut-off identify the sculptor who designed the coin, but this signature doesn’t appear on the 1912 Penny.

The Reverse Of The 1912 Penny

It shows two stalks of durum wheat arranged along the left and right rims of the coin. At the top of the coin, there’s a gap between the tips of the wheat sheaves. This space has the motto E Pluribus Unum. Below that, in the middle of the two ears of wheat, the coin’s face value or denomination is written – One Cent. And under that are the words United States of America.

Other Features Of The 1912 Penny

In 1912, the Lincoln Wheat Cent was 95% Copper. The remaining metal was either zinc or tin, sometimes both. This 5% made the copper a little harder and prevented it from turning green. These pennies are 19.05mm in diameter (that’s 0.75”), have no edge reeds, and weigh 3.11g. Philadelphia Pennies from 1912 have no mint marks. They’re known as 1912 (P) coins.

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

 

1912 Penny Mintage & Survival Data

The 1912 penny mintage data reveals significant disparities across different mint facilities and coin types. Philadelphia led with 68.2 million coins, while Denver contributed 10.4 million and San Francisco 4.4 million pieces. Additionally, 2,145 matte proof specimens were struck for collectors.

Survival rates present a striking contrast to original mintage figures. Despite Philadelphia’s overwhelming mintage advantage, only 2,500 examples survive today, representing a mere 0.0037% survival rate. The Denver mint shows better preservation at 0.0144%.

Proof coins exhibit dramatically different survival characteristics, with 100 specimens surviving from the original 2,145 mintage—achieving an exceptional 4.662% survival rate. This reflects the careful preservation typical of collector-oriented issues compared to circulation strikes.

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 beneath the date for a mint mark—no mark means Philadelphia, “D” indicates Denver, and “S” represents San Francisco. Next, assess the coin’s condition by examining Lincoln’s portrait details and wheat stalk definition. A Philadelphia penny ranges from 20 cents to $35, while the scarcer Denver version reaches $150 in top condition.

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

 

1912 Penny Value Guides

Four distinct versions of the 1912 Lincoln cent were struck, representing different mint operations and intended purposes. Regular business strikes were manufactured for everyday commerce, while special proof coins served the collector market with enhanced quality and limited availability.

Geographic distribution of mint facilities created natural rarity variations. The established Philadelphia operation maintained high output levels, while newer branch mints operated with more constrained capacity. These operational differences directly influenced both original mintage numbers and long-term survival rates within collecting circles.

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

The 1912 Philadelphia Lincoln cent stands as the mainstay of the early wheat series, showcasing the mother mint’s technical superiority through consistently sharp strikes and enhanced copper luster.

Philadelphia’s established die-making capabilities and favorable striking conditions generally produced finer detail than those of its branch mint counterparts.

Color designation plays a decisive role in valuation, with Red examples commanding strong premiums over Brown pieces. While the issue has excellent potential for full red preservation under proper storage, natural copper oxidation remains a long-term challenge. Underscoring its desirability, a 2006 sale saw a MS67 RD example bring $21,850 at auction.

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

The 1912-D Lincoln cent represents Denver’s second year of penny production, featuring the standard specifications of 19.05mm diameter, 3.11 grams weight, and 95% copper composition with 5% tin and zinc. With 10.4 million pieces struck, this issue stands as a scarce semi-key date comparable in rarity to the 1913-D.

Denver’s emerging mint technology created variable striking quality, with some pieces showing weaker impressions than their Philadelphia counterparts, making well-struck examples particularly desirable.

Meanwhile, Brown examples in higher grades typically command moderate premiums, Red-Brown specimens achieve substantial increases, while full Red coins reach the highest valuations. The subdued red color characteristic of Denver issues from this period adds authentication value but may affect premium levels compared to brighter examples.

Auction records tell the story of how collectors pursue this variety across different grades.

As can be seen from the market activity chart, 1912-D penny has always been favored by collectors.

 

1912-S Penny Value

The 1912-S Penny stands out as a rare coin in the early Lincoln Wheat series, with a mintage of 4.43 million pieces, making it the 8th lowest mintage among all Lincoln Wheat cents.

Produced at the San Francisco Mint, this coin holds a semi-key rarity status in the numismatic world. The finest-known examples are all graded MS-66 RD, making them among the most coveted early Lincoln cents.

From an investment perspective, the 1912-S represents one of the most solid semi-key Lincoln cents for long-term holding, with its established rarity, consistent collector demand, and limited population in higher grades creating favorable supply-demand dynamics. Values for the 1912-S Wheat Penny can reach upwards of $27,000 for full red specimens, demonstrating significant appreciation potential.

The auction records illustrate the dramatic value progression across different grade levels for this remarkable coin.

Market activity reflects the sustained collector interest and high demand surrounding this coveted early Lincoln cent.

 

1912 Proof Penny Value

The 1912 Proof Penny emerged from technical necessity – Lincoln Cent’s curvy surface made it hard to polish mirror-like proof pennies, so the mint made sandblasted pennies instead.

Both the die and planchet were sandblasted to produce a visibly granular texture, then stored in sulphur-infused tissue paper that often created prized toning effects. These coins are immediately identifiable by their squared-off rims, steeper inside edge drop-off, and possible slight fin on the rim’s outer edge.

Within the 1912 penny series, these proofs represent the ultimate rarity. Only 2,145 Matte Proof Pennies were coined in Philadelphia in 1912, versus 68+ million business strikes.

The 1912 Proof Lincoln Cent has the 6th lowest mintage in the Matte Proof Lincoln cent series and is the scarcest coin to find in PR66 Red or higher. Red Proofs are much scarcer than their Brown and Red-Brown counterparts, with the coin quite difficult in PR64RD, rare in PR65RD, and virtually esoteric in PR66RD.

The auction records can help you better understand the scarcity and potential value of 1912 proof penny.

And its market activity is updated regularly in the chart below.

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

 

Rare 1912 Penny Error List

The mint can make hundreds of coins in a minute, so a few of them are bound to have errors. And these mint mistakes can raise the resale value of a coin, so within the first month of any coin’s release, experts search for first-strike errors and assign them FS numbers. The 1912 Penny didn’t have any, but look out for flaws like wrong planchets, cud breaks, or die clashes.

1. 1912-S/S Penny RPM Errors

RPM means re-punched mint mark. In the old days of coin minting, the mint mark was the last detail added to a die, and it was placed by hand. This left it susceptible to doubling if the person punching it wasn’t careful. The second strike would land a little to the left or right and you’d see bits of the earlier mint mark underneath. A VF 35 Penny sold for $46 in 2018.

2. 1912-S Penny Inconsistent Obverse Strike Errors

Due to budget cuts at the mint, dies were used for much longer than they should be. As a result, coins can be divided into EDS (Early Die State) and LDS (Later Die State). On San Francisco Pennies, some LDS coins have a softer strike on the right, so that part of the coin fades faster. The 2 in 1912 and the US in Trust are blurry while the final T is often missing.

3. 1912-D Penny Over-Polished Late Die State Errors

The difference between EDS and LDS Pennies is also visible on Denver coins. Here, it’s common to find mild die cracks on LDS Pennies. Sometimes, the mint re-polishes the dies to clarify details. But this leads to erosion on the lower right of the coin. Particularly on the rim, neck, and Lincoln’s lapel. The lettering also appears bloated, especially Liberty and God We.

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

 

Where To Sell Your 1912 Penny?

By working with reputable coin dealers, established auction houses, or specialized online platforms, proper authentication and grading become essential to maximizing your 1912 penny’s market potential and ensuring fair value for these historic numismatic treasures.

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?

Value depends on mint mark and condition. Regular 1912 pennies range from $1-10 in circulated condition, while 1912-D pennies are worth $7-25 in lower grades. The rare 1912-S can reach $20-500+ based on grade and color designation.

2. What makes a 1912 penny valuable?

Mint mark location is crucial – “S” for San Francisco is scarcest, “D” for Denver is semi-key. Condition grade and original copper color (Red vs Brown) significantly impact value. Professional grading is recommended for valuable specimens.

3. Are there any valuable 1912 penny errors?

Yes, the 1912-S/S repunched mint mark variety is highly sought after by collectors. This error shows a second “S” mint mark punched over the first, slightly off-center. Even lower-grade examples can be extremely valuable.

4. How can I identify a 1912-S penny?

Look for the “S” mint mark directly below the date on the obverse. The 1912-S had only 4.43 million coins minted, making it the 8th lowest mintage among all Lincoln Wheat cents and a true semi-key date.