Released in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth, the first-generation Lincoln cents had the 16th president’s bust on the front (obverse) and a wreath of wheat on the reverse. These coins are known as “Wheat Cents” or “Wheaties.” Collecting them is a specialty of its own and even common circulated coins are worth a dollar or two.
But as with most coins, there are several dates and varieties that command much higher prices, sometimes reaching into hundreds of thousands of dollars—including a one-of-a-kind 1943-D bronze coin that sold for $1.7 million at auction in 2010.
Here’s a look at some of the rarer, most valuable Lincoln wheat cents starting with the coin’s first year of issue..
1909 Varieties
The first year of the Lincoln cent saw several different varieties of the coin, many which are quite valuable. Some were the result of a squabble over how the coin designer, Victor David Brenner, would be recognized. Originally, the mint director settled on putting all three of Brenner’s initials on the reverse—VDB—possibly to avoid confusion with designs by Chief Engraver Charles Barber, whose coin designs were noted with the single initial “B.”. But Barber objected and got the mint to remove Brenner’s initials altogether part way through the run.
To VDB or Not to VDB?
Thanks to Barber’s complaint there are Philadelphia and San Francisco coins from 1909 with and without the VDB initials. Millions of coins were minted in Philadelphia, so many remain and are not particularly rare. Several mint-state samples have sold for well under $100. But the San Francisco coins are a different story.
The San Francisco Saga
In 1909 the San Francisco Mint was a low-volume facility, so that along with only a partial year’s production makes 1909-S cents rarer and more valuable in themselves. But low volume wasn’t the only issue in San Francisco.
Because in those days mintmarks were hand-punched on the working dies, mistakes could be made. And when they were, corrections were attempted rather than scrapping the die, sometimes resulting in noticeable flaws. Along with the VDB issue, this has given us three distinct 1909-S coins, all with relatively high collectible values.
1909-S VDB
Fewer than 500,000 VDB cents were produced in San Francisco making them the most valuable 1909 Lincoln cents. By comparison, nearly 28 million VDB cents were made in Philadelphia that year, the only other mint making cent coins (Denver wouldn’t start making cents until 1911).
Prices for 1909-S VDB cents start around $500 for heavily circulated coins, reaching into the thousands for higher grades. The auction record is $5,750 in 2008. These coins are heavily counterfeited, so only buy authenticated coins from reputable sources.
1909-S
While nearly 2 million 1909 cents without the VDB initials were made in San Francisco, that number pales in comparison to the nearly 73 million minted in Philadelphia. Though not as rare as the 1909-S VDB variety, they still go for $100 or more. The auction record is $1,380 for an MS-66 coin in 2009.
1909-S over S Re-punch
When adding the “S” mintmark to a die for 1909-S coins, a mint worker accidentally punched the letter horizontally instead of vertically. In correcting the mistake, a trace of the horizontal S remained, creating what is called a re-punched mintmark that is visible on close inspection. Several hundred of these coins remain, and while not exceptionally valuable, they can bring a few hundred dollars in good condition. The auction record for a 1909-S/S is $632 in 2007.
Collecting Lincoln Cents
Many coin enthusiasts start their collections with Lincoln cents. It can be a life-long pursuit as collections are expanded and upgraded, often resulting in very valuable portfolios.
To assist you in collecting Lincoln cents, we’ll continue with future articles about key dates to look for, so visit our blog pages frequently.
