Among the whole series of Wheat Lincoln cents, there are some that are more valuable than others from the same series — it all depends on the year and most importantly on the quality of the find.
There are cases when the year is not particularly popular, but the coin is in such perfect condition that it automatically becomes valuable.
The same applies to the 1951 penny value, there are options that sell for a lot of money, and there are slightly higher denominations — but it is important to understand how the value of coins is generally determined.
History and Coin Background: The Year 1951
Minting Context
1951 was a period of finding the US deeply involved in the Korean War, so this conflict had an effect on both the general economy and the specific coin production process.
The need for copper for military use stayed high, requiring the standard metal mix for the Lincoln penny to stay the same since 1947: 95% copper and 5% zinc and tin, this mix continuing the copper rule, only stopped for a short time in 1943 due to a lack of copper during World War II.
The Wheat Design
Victor David Brenner created the Lincoln penny design, which stayed in force for many years.
- Front Obverse: It clearly shows the classic picture of the 16th president, Abraham Lincoln, allowing you to see the date “1951” and the important national words “IN GOD WE TRUST” and “LIBERTY”
- Back Reverse: The center has the words “ONE CENT” and “UNITED STATES OF AMERICA,” and these words are framed by two wheat stalks, this back, starting in 1909, gave the coin its specific name — the Wheat penny before the design changed in 1959
Mint Locations and Production Numbers
| Mint Location | Mint Mark | Production Number Approx. |
| Philadelphia | None | 284,555,000 |
| Denver | “D” | 163,600,000 |
| San Francisco | “S” | 33,004,000 |
1951-S San Francisco
With a number of just over 33 million pieces, the coin made in San Francisco—the 1951-S is the rarest among the regular 1951 issues, and this low number, comparing it to Philadelphia almost 8.6 times less.
The Grading System and Condition Rules
The price of any collector coin almost fully depends on its condition, and this condition is found using the Sheldon Scale, a well-known standard in numismatics.
General Grade Types
- G: The coin is very worn, so you see only basic shapes, although the date and words are still easy to read
- VG: You can still see some details of Lincoln’s hair, and the words are clear, but the coin shows heavy use
- F: You see 50-75% of Lincoln’s hair, and you can still see some lines on the wheat stalks
- VF: Details are clear, but the coin shows even wear across its surface
- AU: The coin kept its first shine Mint Luster, showing light wear only on the highest design points
- MS: The coin was never used, keeping its original quality
Color Designation
For the Lincoln penny 95% copper, it changes color easily, and this change greatly affects the final price.
- BN Brown: The copper is fully changed, the coin looks brown, making this the least valuable MS coin.
- RB Red-Brown: This shows a mix of red and brown colors, having kept 5% to 95% of the original red color, giving it a medium price.
- RD Red: The coin kept 95% or more of its first, bright, red copper shine, making this the most valuable type; for example, a 1951 penny rated MS-65 RD costs ten times more than an MS-65 BN.
Price Look-Up by Mint and Condition Market Estimate
| Condition | 1951 Philadelphia | 1951-D Denver | 1951-S San Francisco |
| G-4 Good | $0.10 | $0.10 | $0.15 |
| F-12 Fine | $0.20 | $0.20 | $0.50 |
| AU-50 Almost Unused | $2 | $3 | $5 |
| MS-63 RB Red-Brown | $5 | $6 | $15 |
| MS-65 RD Bright Red | $25 | $40 | $150 |
| MS-66 RD | $60 | $100 | $400 |
| MS-67+ RD | $2,000+ | $3,500+ | $10,000+ |
*Note: Values change based on market demand, condition, grading, and the specific characteristics of individual coins.
Most Valuable Special Types and Mint Mistakes
To get the highest value, collectors look for coins with mistakes or special types, since the errors happened when the mint made the die or during the production process.
Repunched Mint Marks RPM
The most important and valuable special type for 1951 comes specifically from the San Francisco mint.
1951-S/S RPM FS-501: In the mid-century, people put the mint mark D, S onto each die by hand, and this often caused mistakes, meaning the mark was put on wrong and then corrected, leaving clear signs of a “double” or “moved” mark. The 1951-S/S type shows a clear second hit of the “S” mark San Francisco, with this second hit often moved or slightly turned.
- How to Find It: You need to look for clear signs of the second “S” mark below or next to the main mark.
- Value: This coin costs much more than a normal 1951-S; in MS-65 RD condition, the price can easily be over $500, sometimes reaching $2,000 and more in the very best grades.
Small Mint Mistakes Minor Errors
- Off-Center Strike: The minting machine hit the coin blank when it was not fully centered on the press, and a clear move of more than 10% can greatly increase the final coin value.
- Lamination Errors: The coin surface can start to peel off because a bad metal mix in the copper blank caused this separation.
- Die Cracks and Breaks: Visible lines or bumps appear on the coin, since a worn or broken die causes these marks, making them valuable to collectors of mistakes.
Factors Increasing the Premium Price
Other things, not just the grade and special types, affect the final auction price.
Certification Third-Party Grading
Top grading companies, such as PCGS and NGC, must professionally certify coins worth over $50-$100, especially because this Certification proves the coin is real, guaranteeing the stated grade is true.
Coins sealed in a plastic slab, showing the grade and color — for example, 1951-S MS-65 RD PCGS — always sell for a higher price at auction.
Strike Quality
The 1951-D penny, like many coins made at the Denver mint in the mid-century, often looks weak, so coins showing very sharp, clear details, especially on Lincoln’s hair and the wheat stalks, can be rated higher, even with a medium grade.
Collectors actively look for Full Details or Strong Strike examples, because they are visually better.
Proof Coins Special Minting
Proof coins, these being special collector coins, started being produced again only in 1950.
- 1951 Proof Cent: The Philadelphia mint made these coins, using specially polished blanks and dies, this process giving them a mirror-like background Field and a dull Frosted design.
- 1951 Proof Coin Number: Only 57,500 pieces were made, a number much lower than the regular coins.
- Value: 1951 Proof coins in PR-65 condition can cost from $150 to $250, but perfect Proof coins PR-68 and better can easily cost thousands of dollars.
Conclusion
The 1951 Lincoln Penny used coins, spanning from G-4 to VF-20, have a minimal value.
The true collector value begins at MS-65 condition, especially with the desirable RD color Red.
The highest premium price comes from two main things:
- Having the “S” mark San Francisco with a perfect grade MS-67+ RD.
Finding a special type, such as the 1951-S/S RPM one.