David Hall: The 1911 Lincoln cent is one of the more common early Lincolns in circulated grades, a product of the relatively large mintage of the Philadelphia issues compared to those of Denver and San Francisco. For example, in 1911, the mintage of the 1911 Philadelphia was 101,177,787, while the mintage for the 1911 Denver was 12,672,000 and the 1911 San Francisco was 4,026,000. In mint state, the 1911 is scarcer than the 1909 and 1910, and is about as scarce as the 1912.
Most 1912s are well struck. Full red Gems are available and often have a very rich Red color.