Face Value: 1909 Lincoln Cents

The Lincoln Cent has been a fixture in circulating US currency for over a century, having been around for about as long as all of its predecessors combined. The first circulating US coin to honor a person, it was first issued in 1909 to celebrate the 100th anniversary of Abraham Lincoln's birth.

The first 50 years featured a Wheat Ears reverse, followed by 50 years of the Lincoln Memorial reverse. In 2009, the cent had four reverses honoring different periods in Lincoln's life, before switching to the current Shield reverse in 2010. The obverse has always featured Victor David Brenner's right-facing depiction of Abraham Lincoln.

The worth of a 1909 Lincoln Cent will vary depending on the mint facility, the presence of the designer's V.D.B. initials, the grade and variety. Another factor determining the market value is whether the coin has a Red (RD), Red-Brown (RB) or Brown (BN) designation. Specific criteria for the Lincoln Cent to be eligible for these designations is as follows:

• RD – exhibits at least 85% of its original red luster
• RB – exhibits at least 15% of its original red luster
• BN – exhibits less than 15% of its original red luster

1909-S Cents

Lincoln Cents dated 1909 either have no mintmark (indicating it was issued by the Philadelphia mint) or the 'S' mintmark (for the San Francisco mint). Further, they were initially struck with the initials of V.D.B. on the bottom of the reverse to honor Brenner, their designer. Public outcry led to the speedy removal of these initials. (They were brought back several years later and placed at the bottom of Lincoln's shoulder, where they can still be found on the latest cents issued.)

The 1909-S VDB Cent is the key to collecting the Lincoln Cent series. Because of the high demand and low mintages from San Francisco that year, even the 1909-S (without the VDB) is considered a key. According to the NGC Price Guide, here are some values of these two issues:

• 1909-S VDB: $1,575 in AU 50 BN, $2,150 in MS 60 RB and $8,250 in MS 65 RD
• 1909-S (without VDB): $215 in AU 50 BN, $310 in MS 60 RB and $1,200 in MS 65 RD

1909-S VDB Cent (top) and 1909-S Lincoln Cent Click images to enlarge.

1909 Lincoln Cents

The Philadelphia issues (with no mintmark) were far more common than the San Francisco ones. As a result, the numismatic premium is fairly modest for these coins, though it still outpaces nearly all of the Wheat Ears Cents of the 1930s, '40s and '50s. According to the NGC Price Guide, here are some of the values of these two issues:

• 1909 VDB: $16 in AU 50 BN, $35 in MS 60 RB and $250 in MS 65 RD
• 1909 (without VDB): $12 in AU 50 BN, $27 in MS 60 RB and $265 in MS 65 RD

1909 VDB Cent (top) and 1909 Lincoln Cent Click images to enlarge.

1909 Lincoln Cent Proofs

Only 2,618 1909 Proof Lincoln Cents without the V.D.B. initials were struck, as well as a smaller number of these cents with the initials. Of the two, the V.D.B. Proofs are far more valuable. According to the NGC Price Guide, here are some values of these two issues:

• 1909 Proof VDB: $14,000 in PF 63 RB and $180,000 in PF 67 RD
• 1909 Proof (without VDB): $750 in PF 63 RB and $18,750 in PF 67 RD

1909 VDB Proof Cent (top) and 1909 Proof Lincoln Cent Click images to enlarge.

1909 Lincoln Cent Varieties

NGC VarietyPlus lists four varieties of 1909 Lincoln Cents: two Doubled Died Obverses and two S/S mintmarks, including one where the initial mintmark was horizontal. These varieties can carry a significant premium over similar coins. Here are examples of Heritage Auctions' prices realized for these varieties:

• 1909-S/Horizonal S: An example graded NGC MS 64 RB realized $444 in June 2021; an example graded NGC F 15 realized $124 in August 2022.
• 1909-S/S (FS-1501): An example graded NGC MS 64 RB realized $372 in May 2018; an example graded NGC VF 35 BN realized $121 in May 2017.
• 1909 VDB Doubled Die Obverse (FS-1101): An example graded NGC MS 65 RB realized $480 in December 2018; an example graded NGC MS 64 BN realized $881 in February 2016.
• 1909 VDB Doubled Die Obverse (FS-1102): An example graded NGC MS 65 RB realized $660 in May 2021; an example graded NGC MS 65 RD realized $446 in January 2017.

Clockwise from top-left: Close-ups of a 1909-S/Horizontal S Lincoln Cent, 1909-S/S (FS-1501) Lincoln Cent, 1909 VDB Doubled Die Obverse (FS-1102) Cent and 1909 VDB Doubled Die Obverse (FS-1101) Cent. Click images to enlarge.

1909 Indian Head Cents

Not all 1909 Cents have Lincoln on them. The Indian Head Cent series, which began in 1859, wrapped up in 1909, with mintmark-less business strikes and Proofs, as well as the business strikes from San Francisco. The 1909-S Indian Head Cent is a key to its series as well. According to the NGC Price Guide, here are some of the values of these issues:

• 1909 Indian Head Cent: $110 in MS 63 RB and $1,450 in MS 66 RD
• 1909 Proof Indian Head Cent: $315 in PF 63 RB and $2,300 in PF 66 RD
• 1909-S Indian Head Cent: $1,850 in MS 63 RB and $12,500 in MS 66 RD

1909-S Indian Head Cent Click images to enlarge.

All values are based on the NGC Price Guide as of June 2023.