The 1912 Lincoln Wheat Penny is a classic and highly sought-after coin among collectors of early 20th-century U.S. currency. As part of the iconic Lincoln cent series, which began in 1909, the 1912 edition stands out due to its historical significance, mint variations, and collectible value. Whether you’re a seasoned numismatist or just getting started with coin collecting, this guide will provide everything you need to know about the 1912 Lincoln wheat penny.
History and Background of the 1912 Lincoln Wheat Penny
The Lincoln Wheat Penny was first introduced in 1909 to commemorate the 100th anniversary of President Abraham Lincoln’s birth. Designed by Victor David Brenner, the coin marked a major departure from previous U.S. coinage by featuring a real person—Lincoln—on the obverse (front) side. The reverse features two wheat stalks along the rim, giving the coin its nickname, “Wheat Penny.”
By 1912, the Lincoln cent was already a staple of everyday American currency. The U.S. Mint struck the 1912 Lincoln penny in three locations: Philadelphia (no mint mark), Denver (D mint mark), and San Francisco (S mint mark).
Mint Marks and Production Numbers
There are three main types of 1912 wheat pennies, distinguished by where they were minted:
- 1912 (Philadelphia, no mint mark)
Mintage: 68,153,060 - 1912-D (Denver)
Mintage: 10,411,000 - 1912-S (San Francisco)
Mintage: 4,431,000
Among the three, the 1912-S Lincoln penny is the scarcest and most valuable in higher grades, especially in uncirculated condition.
Key Features and Design
Obverse (front):
- Portrait of Abraham Lincoln facing right
- The words “IN GOD WE TRUST” along the top edge
- “LIBERTY” on the left side
- The year “1912” on the right side
- Mint mark (if any) below the date
Reverse (back):
- Two wheat ears (left and right)
- “ONE CENT” in bold at the center
- “UNITED STATES OF AMERICA” below the denomination
- “E PLURIBUS UNUM” across the top
Metal Composition and Specifications
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 grams
- Diameter: 19.05 mm
- Edge: Plain
The 1912 penny is made of a bronze alloy, typical of Lincoln cents produced before 1982.
Value of the 1912 Lincoln Wheat Penny
The value of a 1912 penny varies significantly depending on the mint mark and coin condition (grade). Here’s a general breakdown of market values:
1912 (No Mint Mark – Philadelphia)
- Good (G-4): $0.75 – $1.25
- Fine (F-12): $1.50 – $2.50
- Extremely Fine (EF-40): $5 – $8
- Uncirculated (MS-60+): $20 – $75+
1912-D (Denver)
- Good (G-4): $3 – $5
- Fine (F-12): $10 – $15
- Extremely Fine (EF-40): $40 – $65
- Uncirculated (MS-60+): $100 – $250+
1912-S (San Francisco)
- Good (G-4): $12 – $18
- Fine (F-12): $25 – $45
- Extremely Fine (EF-40): $75 – $150
- Uncirculated (MS-60+): $250 – $600+
Note: Coins with original red coloration (RD designation) can fetch premium prices among collectors.
Rarity and Collectibility
The 1912-S Lincoln penny is especially popular due to its lower mintage. High-grade examples are rare and command top dollar in the marketplace. Collectors looking to complete a full set of Lincoln wheat cents from 1909 to 1958 will often find the 1912-S one of the more challenging early dates to locate in excellent condition.
Coins with full wheat stalk details and minimal wear are considered particularly desirable. Uncirculated examples graded by PCGS or NGC are highly liquid and often auctioned at premium prices.
Tips for Collecting the 1912 Lincoln Penny
- Check the Mint Mark: Always inspect for the presence and placement of the mint mark beneath the date. A missing or faint mark can dramatically impact value.
- Grade Matters: Use a magnifying glass to examine the coin’s details, especially Lincoln’s hair, the cheek area, and the wheat stalks on the reverse. Even small signs of wear can affect value.
- Look for Red Tones: Red (RD) coins are often worth more than brown (BN) or red-brown (RB) examples. Store your coins properly to preserve their color and luster.
- Buy from Reputable Dealers: Always purchase graded coins from trusted sources to avoid counterfeits or cleaned coins that have lost collector value.
How to Store and Preserve Your 1912 Wheat Pennies
Proper storage is crucial for maintaining your coin’s condition and value. Here are a few tips:
- Use acid-free 2×2 coin holders or plastic flips.
- Avoid touching the coin’s surface with bare hands; use cotton gloves.
- Store in a cool, dry environment with low humidity to prevent corrosion.
- Consider investing in certified holders (slabs) for valuable coins.
Errors and Varieties
While the 1912 penny is not widely known for major errors, minor varieties and strike anomalies do exist. Some examples to watch for:
- Off-center strikes
- Die cracks or die clashes
- Repunched mint marks (RPMs)
These can add collector interest and marginal value, especially if well-defined.
Conclusion
The 1912 Lincoln Wheat Penny is a prized collectible from the early years of the Lincoln cent series. With three mint varieties and varying levels of rarity, it offers something for every collector. Whether you’re hunting for a circulated example to complete a set or an uncirculated gem for investment, understanding the historical context, grading standards, and market values will help you make informed decisions.
If you’re new to coin collecting or an experienced numismatist, the 1912 wheat penny is a valuable addition that connects you directly to over a century of American history.
Frequently Asked Questions (FAQs)
How much is a 1912 penny worth today?
Depending on condition and mint mark, a 1912 penny can be worth anywhere from $1 to over $600 for uncirculated specimens.
What is the rarest 1912 penny?
The 1912-S Lincoln penny is the rarest and most valuable of the three types due to its low mintage of just over 4.4 million.
How can I tell if my 1912 penny is real?
Genuine 1912 pennies will show sharp details and appropriate weight (3.11 grams). Consider professional authentication for high-value coins.