Jeff Garrett: The Ultimate Key Date

When meeting someone for the first time, the subject of my unusual profession often comes up. After some brief description of the hobby and what I do, many will ask about the one coin they know about: the super-famous 1909-S V.D.B. Lincoln Cent.

The 1909-S V.D.B. Lincoln Cent is certainly not one of the rarest US coins, but it is one of the most famous. The elusive cent is listed in my book 100 Greatest US Coins, and it is probably one of the most affordable coins in the book. The Guide Book of United States Coins (The Red Book) defines the phrase key coins as “one of the scarcer or more valuable coins in a series.” The 1909-S V.D.B. Cent certainly fits that description.

Like millions of other collectors now and in the past, my numismatic journey began with Lincoln Cents. Little did I know that the gift of a small blue Whitman folder for Lincoln Cents would change my life. In the late 1960s you could find a lot of different date-and-mintmark Lincoln Cents in circulation. Every week, I would go to the bank and buy as many rolls of cents as I could afford at the time. After months of searching, the album started to fill up, with the exception of about a dozen coins.

It was then that my goal became earning enough money to “purchase” the coins needed to complete my set. I think my first purchase was from Littleton Coin Company, which advertised extensively in comic books in those days. Despite my aggressive pursuits, it would be years before I could buy the 1909-S V.D.B. Cent. I was finally able to find one at the 1972 Clearwater, Florida coin show that would fit my budget. That coin and the set are still in my collection and will always be special to me.

A 1909-S V.D.B. Cent graded NGC MS 63 RB that realized $2,400 through Heritage Auctions in February 2024 (top) and one graded NGC G 6 BN that realized $690 through Heritage Auctions in September 2023. Click images to enlarge.

The 1909-S V.D.B. Cent has long been considered the key date for the series. While the mintage of 480,000 may seem high compared to many other US rarities, one must understand that there are millions of people who collect Lincoln Cents. To date, NGC has only graded 11,642 examples in all grades. There are simply not enough of the elusive issue to satisfy all of the collector demand. The massive popularity of the issue is why the coin continues to hold a place on the list of 100 Greatest United States Coins.

In 1905, President Theodore Roosevelt commissioned the famous US sculptor and artist Augustus Saint-Gaudens to prepare designs for all denominations, including the cent. Initially, Saint-Gaudens’s design for the obverse featured a flying eagle motif similar to James Barton Longacre’s designs on the small cents from 1856 to 1858. This design was abandoned in favor of a head of Victory in profile wearing an Indian headdress, but Saint-Gaudens and Roosevelt liked this design so much that they used it for the 1907 Eagle instead. Unfortunately, Saint-Gaudens died of cancer before making any more progress on the cent design, so it was not until 1909 that Victor David Brenner created the famous bust of Abraham Lincoln with which we are all so familiar today.

Brenner’s design broke new ground by placing the image of an actual person on a coin made for circulation. In what some naive observers considered a break with numismatic tradition, Brenner placed his initials near the bottom of the back of the coin. Despite their small size, the letters V.D.B. were obvious enough that they created uproar with the public and Mint officials, who immediately demanded their removal. The offending initials were expunged later in 1909, resulting in the creation of four 1909 Lincoln cent varieties for collectors to acquire: 1909 with and without V.D.B. and 1909-S with and without V.D.B. Of the four varieties, the 1909-S V.D.B. is by far the rarest.

Low-grade examples of the date can be found without difficulty, but authentication is a must. The 1909-S V.D.B. cent is probably one of the most counterfeited coins in any US series. The issue has been counterfeited for generations and some are amazingly good. When offered uncertified examples in our coin shop, we only make an offer after we have sent the coin to NGC for authentication. NEVER buy an uncertified example of the 1909-S V.D.B. Cent.

Adding an 'S' (left) or V.D.B. to a genuine 1909 Lincoln Cent are two ways counterfeiters try to fool collectors. Click images to enlarge.

For those with a more generous budget for rare coins, you may want to consider a Mint State example. In my opinion, coins grading MS 64 RB (Red Brown) or RD (Red) are the best value for the issue. The coins jump significantly in price for the next grade and higher. The auction record for the date is over $100,000 for coins graded MS 67 RD.

One note of caution: Be sure that any RD-designated coin you are considering still has enough Red coloring to still qualify as such. I have seen coins that have mellowed in color over the years. The Red designation is not guaranteed by third-party grading companies for this reason.

The population for this date in MS 64 and MS 65 RD was much lower about ten years ago. When the coins were issued in 1909, many were saved as keepsakes of the new design. This is very common for new issues. About ten years ago, an original roll of 1909-S V.D.B. Cents surfaced at a coin show. The coins were quickly disseminated into collector’s hands, but the population numbers jumped considerably, almost overnight.

The 1909-S V.D.B. Cent will continue to be one of the most famous US coins for many years. If you can afford an example, it will give you instant gravitas with anyone familiar with hobby!

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Jeff Garrett bio

Related Link:
Counterfeit Detection: 1909-S V.D.B. Lincoln Cent