This is another issue that enjoyed a generous mintage but is nonetheless rare in fully red, gem condition. Most 1918-S cents were less than sharply struck, with the reverse dies being particularly subject to extreme wear. This is because they were undated and could thus be retained from one year to another until they failed altogether.
1918-S cents were widely hoarded in low grades from the 1930s through the 1950s, and their modest values even today reflect this abundance. Examples in the higher circulated grades are a bit scarce and command greater premiums.
All S-Mint cents dated 1918-40 have the mintmark style introduced in 1917, with the sole exception of some 1928-S cents made late in that year with a much larger mintmark.
Mintage:
| Philadelphia | Denver | San Francisco |
| 288,104,634 | 47,830,000 | 34,680,000 |