The 1910 Lincoln wheat penny was the first struck during a full year of production for the coin. Mintages at Philadelphia struck a record, while those at San Francisco remained comparatively slight. Collectors will find a wide disparity in price and may have to put their talents to the test to find the coins they want.
Production of the 1910 Lincoln Wheat Penny
After the remarkably successful and popular introduction of the Lincoln wheat penny in the previous year, the U.S. Mint quickly ramped up production to meet the demands of commerce. The combined production of the Philadelphia and San Francisco Mints, while it would be dwarfed by more modern production figures, nevertheless set a production record by coining more pennies than in any year since the introduction of copper pennies in 1793.
The quality of the strike at both the Philadelphia and San Francisco mints was usually fairly sharp for penny production. This is not surprising as the masters, or hubs, were still quite new and capable of providing sharp images for die production.
| Date | Philadelphia | Denver | San Francisco |
| 1910 | 146,801,218 | 0 | 6,045,000 |
| 1910 Proof | 4,083 | 0 | 0 |
How Much Are 1910 Lincoln Wheat Pennies Worth?
As might be imagined from the notion of an all-time-high (to that date) for production, the 1910 penny coined in Philadelphia is fairly common and readily available in all circulated grades. Coins from San Francisco are much less common, and priced accordingly. Lower graded uncirculated or Mint-State coins are also fairly regularly available, but higher graded Mint-State coins in gem condition with original luster are fairly rare. Given the age of the coin, and the tendency of bronze to oxidize over time, this is unsurprising.
| 1910 Penny Value Chart | |||
| Business Strike | Grade | ||
| Uncirculated MS64 | Uncirculated MS65 | Uncirculated MS66 | |
| 1910 1C BN | $61.00 | $94.00 | — |
| 1910 1C RB | $74.00 | $115.00 | $221.00 |
| 1910 1C RD | $88.00 | $221.00 | $585.00 |
| 1910-S 1C BN | $176.00 | $292.00 | — |
| 1910-S 1C RB | $195.00 | $325.00 | $650.00 |
| 1910-S 1C RD | $286.00 | $650.00 | $1,410.00 |
| Proof Strike | Grade | ||
| PR63 | PR65 | PR67 | |
| 1910 1C Matte Finish BN | $682.00 | $936.00 | $3,750.00 |
| 1910 1C Matte Finish RB | $728.00 | $1,110.00 | $4,750.00 |
| 1910 1C Matte Finish RD | $878.00 | $1,250.00 | $15,000.00 |
Values for 1910 Lincoln Wheat Pennies
Lincoln pennies struck in Philadelphia are readily available in Good and Fine grades, at prices ranging between $0.50 and $0.60. Although by definition, such coins are worn, strikes in 1910 were generally sharp and of high quality, and so finding decent specimens should be quite possible. Higher grades of circulated 1910 wheat pennies are available but much more expensive. A 1910 penny graded “Extremely Fine,” should cost under $4.50, while an “About-Uncirculated” example should be available for under $13.00. A buyer may have to wait to find exactly the perfect coin, but with some patience and persistence, nice choices will surface.
Uncirculated, or Mint-State 1910 pennies minted in Philadelphia are also readily available. Because copper and bronze oxidize to brown, many coins of this age, otherwise uncirculated and never handled, may show signs of a patina. This is perfectly natural, and while such coins are intrinsically less valuable than nice red “gem” coins they can still retain a fine appearance, a high grade, and, if sharply struck, look very handsome in a collection gathered with an eye to aesthetics in addition to investment potential.
A 1910 uncirculated penny, graded MS-63 BN should reasonably cost under $30. A somewhat nicer specimen, graded MS-65 BN, should cost somewhat under $100. Red-brown examples of the same pennies are less common, and more costly, but not excessively so. A 1910 penny, graded MS-63 RB should cost slightly over $30. A 1910 penny graded MS-65 RB should sell for around $120. The increase in cost from the lower luster to the higher may be slight enough to justify waiting a bit, and making the better purchase when it becomes available.
Nice shiny red pennies from 1910 are uncommon, and priced accordingly. A 1910 penny graded MS-63 RD will probably cost over $50. A penny graded MS-65 RD will cost over $200.
At the highest levels of grading for red Mint-State 1910 pennies, prices rise significantly. In January 2023, Heritage Auctions sold a 1910 penny, graded MS-67 RD for $3,000. The catalog auction note pointed out that while 1910 pennies existed up to and including a grade of MS-67, no specimens of higher grade have ever been discovered. This particular coin was flawless for the grade, except for a small carbon spot below the letter “O” in ONE on the reverse. A similar coin was auctioned in August 2022 for $2,880. In 2020, a nearly unique 1910 wheat penny, graded MS-67+ RD sold for $4,200 at Heritage Auctions.
Were 1910-D Lincoln Wheat Pennies Minted?
In 1910, the Denver Mint did not strike any Lincoln pennies. Production of the coins took place only at the other two mints. Consequently, there are no genuine 1910-D Lincoln wheat pennies. Production of pennies at the Denver Mint would begin next year, in 1911, and all three mints would produce wheat pennies in most of the years that followed.
Values for 1910-S Lincoln Wheat Pennies
The 1910-S Lincoln wheat penny had a mintage of less than 5% of that of the Philadelphia Mint. Collectors can find 1910-S pennies, but they will be somewhat costly, and buyers may have to settle for somewhat lower grades than they might ordinarily wish to include in the collection.
At the circulated grades, Good and Fair 1910-S Lincoln wheat pennies cost around $13 and $20 respectively. These are a far cry from 1910 Philadelphia coins costing under a dollar. An Extremely Fine specimen will cost over $50. An About-Uncirculated 1910-S penny will cost over $80.
Uncirculated, Mint-State coins can be found, though all grades and tones are somewhat scarce. Most 1910-S uncirculated coins have slight toning, though carbon spots and flecks might be less frequently met with. Occasionally, treated or “dipped” coins are encountered which have undergone further corrosion and toning. Undipped coins, with full luster, are distinctly unusual, and even these may have begun to lose luster on the rim and outer edges.
A brown 1910-S uncirculated penny, graded MS-63, should cost around $130. A slightly better specimen, graded MS-65 BN, should cost nearly $300. Red-brown specimens graded MS-63 will cost around $150, while red-brown specimens graded MS-65 will cost around $325. Again, the fine distinction of price poses a conundrum for collectors. The brown specimens can be just as handsome, and look just as fine in a collection, aesthetically. Their investment value may be slightly less, as many speculators aren’t concerned in the slightest with the appearance of a coin in a cabinet or holder.
At the highest uncirculated grades, of MS-66 or 67 RD, the 1910-S penny becomes rare and expensive. In August, 2022, a 1910-S wheat penny, graded MS-66+ RD sold for $4,800. In December 2021, a 1910-S penny, graded MS-67 RD, sold for $9.900. The auction catalog suggested that about fourteen 1910-S pennies graded at the MS-67 level, and that no surviving examples of higher grade were known. In June 2021, a similar coin sold for $15,000.
Values for 1910 Proof Lincoln Wheat Pennies
In 1910, the Philadelphia Mint produced 4,083 proof wheat pennies with a matte finish. Most of these have gently faded to a light brown finish, if undipped or otherwise untreated. A few retain a red-brown appearance. Genuine red proof coins with decent luster and in their original appearance, are very rare, and accordingly expensive.
Brown or Red-Brown proof pennies struck in 1910 cost a fraction of coins graded red, though that means they can still be quite expensive. In May 2022, a 1910 proof penny, graded PR-67 BN sold for $2,160 at Heritage Auctions.
In December 2023, a 1910 proof Lincoln penny, graded PR-66+ RD, sold for $2,760 at Heritage Auctions. In July 2023, Heritage sold a similar coin, graded PR-65+ RD for $3,120.
Such disparities pose a conundrum for collectors. Should a collector prefer the brown penny, graded PR-67, even though it is corroded? Or is the better value to bid in the red penny, graded one level less at PR-66? There is no correct answer to the question, of course. The matter would depend upon the preferences of the individual collector and the purpose of the collection. The appearance of each individual coin would play a role as well.
The highest quality coins go for equally astonishing prices. In January 2023, Heritage auctioned a 1910 proof Lincoln penny graded PR-67 RD for $18,000. The auction catalog stated that the company had auctioned 10 previous coins at this grade, including some individual coins on more than one occasion, and that only one superior example had ever been certified by one of the national grading services. In August 2021, a similar 1910 proof penny sold for $15,600.
How Much are 1910 Lincoln Penny Varieties and Errors Worth?
Values for 1910 Lincoln Wheat Penny Die Varieties
There are two known die varieties for the 1910 Lincoln wheat penny, both repunched mint marks arising from the San Francisco Mint. For most of its history, the U.S. Mint produced dies in the Philadelphia Mint, and then added both the date and the mint marks in separate steps. In each case, an engraver used special individual punches containing the date, and the mint mark to impress the image into an already completed die. Several strikes were needed to alter the die with the date or mint mark. Ideally, these blows would fall upon the same location on the die consistently. Sometimes, the blows would fall in slightly separate locations leaving two or more images of the date or of the mint mark.
The first repunched mint mark variety of 1910, known by its Fivaz-Stanton catalog number as FS-1910-S-501 shows two distinct mint marks. A second, fainter “S” is located below or “south” of the primary mintmark. Given the cost of normal 1910-S pennies, the buyer or seller may not always realize a significant price advance over the usual.
In April, 2023, Heritage Auctions sold a 1910-S/S AU-50 Lincoln penny of this variety, FS-501, for $169. A regular 1910-S penny, of grade AU-55, would cost about $84. In November 2023, a 1910-S/S MS-64 RB Lincoln penny, also of variety FS-501, sold for $1,260. This is a sizable increase over the usual price for ordinary uncirculated red-brown 1910-S pennies, which usually sell for less than $300 for the very best examples.
The second repunched mint mark variety of 1910, known by its Fivaz-Stanton catalog number as FS-1910-S-502 is similar. The second, fainter “S” mint mark is located above, or “North” of the main mint mark. This variety is better known, somewhat more sought after, and may be easier to sell or to find than the preceding type.
In April 2023 a 1910-S/S MS-64 RD Lincoln penny of variety FS-502, sold for $1,110. In November 2023, a 1910 S/S MS-65 RD Lincoln penny also of this variety, FS-502, sold for $1,080.
Values for 1910 Lincoln Wheat Penny Errors
Error varieties are much sought after by coin collectors specializing in the subject, and are very popular when they appear. Such coins can often command a significant premium over ordinary coins.
Off-center strikes arise when a coin planchet, or blank, fails to fall into the coin press in the correct position. Coins which show date and mint mark are preferred by error collectors.
In January, 2022, a 1910 Lincoln penny, graded AU-58 and struck 10% off center, sold for $312. A normal 1910 penny of that grade would have cost under $15. In September, 2019, a 1910 Lincoln penny, graded AU-58 and struck 15% off center, sold for $690 at auction.
A double-struck coin is, as the name implies, a coin which fails to fall out of the coin press correctly, so that it is stamped a second time by the dies. Such blows do not fall in the identical spot, leaving a mis-shapen coin with two images. In March 2021, a double-struck 1910 wheat penny, with the second strike 25% off center from the first, sold for $990 at Heritage Auctions. The coin, graded VF-35, would have sold for about $3 had it been correctly struck.
Technical Specifications of the 1910 Lincoln Wheat Penny
The year 1910 was the second year of mintage for the Lincoln wheat penny. The coin enjoyed a popular introduction in 1909, removing any apprehension the Mint might have had about offering a coin with a real, historical figure, rather than an allegorical portrait, animal, or abstract design. The Lincoln penny in 1910 was a bronze coin, rather than a pure copper one, made of 95% copper, and 5% tin and zinc. It had a diameter of 19 millimeters and a weight of 3.11 grams.
Summary
The 1910 wheat penny is a study in contrasts. Coins struck in Philadelphia are common, especially at the lower grades, and collectors should have no problem finding circulated examples at a variety of grades and price points. Because of the age of the coin, 1910 pennies from Philadelphia in the best uncirculated grades may be somewhat more of a challenge. In contrast, the 1910-S penny from San Francisco was minted in far smaller numbers, and may pose a challenge in any grade. Still patience and persistence will eventually yield a nice coin, which a collector can display with pride.