Condition: The condition of the coin plays a crucial role in determining its value. Coins in mint state (MS) or near-mint state (MS-) command higher prices compared to those with wear and tear.
Rarity: The mintage of 1851 pennies was relatively low compared to other years, making them scarcer and more valuable.
Variety: There are different varieties of the 1851 penny, each with its unique characteristics. Some varieties are rarer than others, which can affect the value.
Market Demand: The demand for 1851 pennies among collectors can influence their value. If there is a high demand for these coins, their value may increase accordingly.
Based on these factors, the value of an 1851 penny can range from a few dollars to several hundred dollars. It's worth consulting with experts or reputable coin dealers to get a more accurate valuation.