1951 Penny Value Explained: What Makes Your Coin Valuable?

Do you have a 1951 Wheat Penny lying around? Or perhaps you are an experienced collector who wants to complete their Lincoln cent series? Either way, you might be wondering—how much is a 1951 Wheat Penny worth? 

The answer depends on various factors, including mint marks, condition and rare errors. Today we are going to touch the world of numismatics and understand the 1951 Wheat Penny price, its different variations and how to identify coin by picture online​. 

But now we are to start with a brief numismatic description of the coin we are going to explore:

History of the 1951 Wheat Penny

The coin belongs to the famous Lincoln cent series that was introduced in 1909 to commemorate the 100th birthday of President Abraham Lincoln. The Wheat Penny design was crafted by Victor David Brenner and lasted until 1958 before being replaced by the Lincoln Memorial reverse.

In 1951, a few years before 1956 pennies were minted, the U.S. Mint struck pennies at three locations: Philadelphia (no mint mark), Denver (“D”) and San Francisco (“S”). These pennies saw widespread circulation. This means that they were rather common in lower grades but highly sought-after in pristine condition.

The Lincoln Wheat Penny holds historical significance as it was the first U.S. coin to feature a real person instead of symbolic figures. Collectors value these coins not only for their numismatic worth but also for their place in American history.

Design and Composition 

The front side of the coin features Abraham Lincoln in profile, designed by Brenner. Above his head, the motto “IN GOD WE TRUST” is displayed. To the left is the word “LIBERTY” and the date “1951” appears on the right. If the coin bears a mint mark, you will find it below the date.

The reverse shows two curved wheat ears, lending the penny its famous nickname—the “Wheat Penny.” Between the wheat stalks, “ONE CENT” is inscribed, followed by “UNITED STATES OF AMERICA.” Above these, the Latin phrase “E PLURIBUS UNUM” (meaning “Out of many, one”) curves along the top edge.

1951 Penny Value Based on Mint Marks

So, how much is a 1951 penny worth? The value depends on the mint mark, condition and any special errors. Here is a breakdown of values for each variation:

Disclaimer: These values are based on auction sales and market trends. Actual prices may vary depending on demand and coin condition. Try to check them out in a Coin ID Scanner app.

The 1951 Wheat Penny No Mint Mark Value

If your 1951 coin has no mint mark, it was produced in Philadelphia. The Philadelphia Mint struck nearly 285 million of these coins - they were common in circulated condition.

An average 1951 Wheat Penny value no mint mark in circulated condition is about only a few cents. However, uncirculated specimens with a red hue can fetch much higher prices, especially at MS67 grades, where values exceed $1,000.

The 1951 D Wheat Penny Value Today

This type of coin was minted in Denver, with an impressive 625 million coins produced. Despite this high number, well-preserved examples are sought after by collectors.

In circulated condition, 1951 penny D examples are only worth a few cents. However, pristine uncirculated specimens can fetch between $20 (MS65) and $225 (MS67). Ultra-rare MS68 1951 D penny value today is as high as $9,000!

So, how much is a 1951 D wheat penny worth? That depends on its grade—low-quality coins are worth face value, but high-grade red examples can command serious money.

The 1951 S Wheat Penny Value

The 1951 S penny value is slightly higher due to lower mintage numbers—about 136 million coins were struck at the San Francisco Mint. Collectors often seek out red mint-state examples, which range from $3 (MS60) to $325 (MS67).

If you are wondering how much is a 1951 S penny worth, remember that circulated coins are not particularly rare, but well-preserved specimens can be valuable.

1951 Wheat Penny Error Examples and Their Values

Errors can make ordinary coins more valuable. Some of the most well-known error varieties include:

1951 D Wheat Penny Error – Double Die Obverse: This error is found on some Denver-minted coins, where doubling can be seen in the letters “LIBERTY” and “IN GOD WE TRUST.” A red MS65 example can be worth $200 or more!

1951 Penny No Mint Mark Double Die Obverse: A rarer Philadelphia error with doubling on the obverse. Circulated examples can fetch $25-$50, while uncirculated specimens can reach $200.

Off-Center Strike: Some pennies were struck slightly off-center due to misalignment of the die. This makes them more valuable. These errors can range from $50 to several hundred dollars depending on the degree of off-centering.

BIE Error: This occurs when a small die crack between the letters "B" and "E" in "LIBERTY" creates what looks like an extra letter "I". Collectors often seek out this unique variety, with values ranging from $10 to $100 depending on the coin's condition.

Grading the 1951 Penny (Sheldon Scale)

The condition of a coin determines its value: well-preserved coins are more valuable. Below is a breakdown of each grade along with the details that define them. Note that it can be used for any coin, e.g., for 1986 quarters and other ones:

Circulated Coins:

Good (G-4 to G-6) 

Heavy wear with flat details; Lincoln's hair and ear are blended. The lettering and date are visible but worn down. The wheat stalks on the reverse are barely distinguishable.

Estimated Value: $0.02

Very Good (VG-8 to VG-10)

More detail visible in Lincoln’s hair and ear, though still significantly worn. The wheat stalks show outlines but lack interior detail.

Estimated Value: $0.02 - $0.03

Fine (F-12 to F-15)

Moderate wear; Lincoln’s cheek and jawline are more defined. The wheat stalks retain some inner lines but they are faint.

Estimated Value: $0.03 - $0.05

Very Fine (VF-20 to VF-35)

The wheat stalks are more clearly defined. Lincoln’s hair and face details are stronger. Minor wear on the high points.

Estimated Value: $0.04 - $0.10

Uncirculated Coins (Mint State):

Extremely Fine (XF-40 to XF-45)

Minimal wear visible on Lincoln’s cheek and jaw. The wheat stalks are fully defined. The surfaces retain some original mint luster.

Estimated Value: $0.10 - $0.25

About Uncirculated (AU-50 to AU-58)

Light friction on the high points but retains almost full mint luster. Small contact marks may be present but do not detract significantly.

Estimated Value: $0.50 - $1.50

Mint State (MS-60 to MS-70)

• MS-60: No signs of circulation, but with noticeable marks or dull luster.

• MS-63: A choice uncirculated example with minimal marks and strong luster.

• MS-65 (Gem Uncirculated): A high-quality coin with nearly perfect surfaces.

• MS-67+ (Perfect Mint State): Virtually flawless with full red luster (RD).

Estimated Value (MS-60 to MS-67+): $2.00 - $100+

Color Designation (RD, RB, BN) and Effect on Value

Uncirculated Lincoln Cents are further classified by their color, which affects their desirability and value:

Brown (BN): The coin has mostly turned brown due to oxidation.

Red-Brown (RB): A mix of red and brown, with around 20-80% original red luster.

Red (RD): Full red color, the most valuable and sought-after.

Disclaimer: Values may vary based on market trends and certified grading from PCGS or NGC.

FAQs

How much is a 1951 D penny worth if it is damaged or worn? 

Even in poor condition, it may still be worth slightly more than face value due to its copper content. However, unless it has an error or is a rare variety, heavily circulated 1951 penny value D is typically only worth a few cents.

How do I know if my 1951 wheat penny is rare? 

Look for mint marks, errors and condition. Coins with a clear double die obverse, off-center strikes or repunched mint marks can be valuable. Additionally, coins in pristine, uncirculated red condition may be more valuable than circulated brown pennies.

Where can I sell my 1951 wheat penny? 

You can sell your coin through online marketplaces like eBay, numismatic dealers, coin shows or even auction houses if it is a rare or high-grade specimen. Using apps like Coin ID Scanner can help determine a value before listing your coin for sale.

Sources:

1. https://www.coinstudy.com/1951-penny-value.html

2. https://bullionsharks.com/1951-d-wheat-penny/