What is a 1911 e pluribus unum penny worth?

Depending on the mintmark and condition, it could be 20 cents or $250. If there is an "S" below the date, figure at least $15 retail.

Here is the price list for different conditions on the coin:

G-4: 25 cents;

VG-8: 40 cents;

F-12: 1 dollar;

VF-20: 1.50 dollars;

XF-40: 5 dollars; M

S-60: 20 dollars;

MS-63: 50 dollars ( Estimate pricing from the 2006 Red Book )

Also please note that ALL U.S. coins carry the motto "E Pluribus Unum" ("From many, one") so this is not a distinguishing characteristic.