Lincoln Cents

Lincoln Cent Facts Every Collector Should Know

Designed by: Victor David Brenner, Frank Gasparo, Lyndall Bass

Edge Style: Plain
Mints: Philadelphia, Denver, San Francisco
Diameter: 19mm
Weight: 3.11g
Metallic Content: 95% Copper, 5% Tin and Zinc
*These details are unique to only the dates from 1909-1982.
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Lincoln Cents
The humble Lincoln Cent is our longest-lived
obverse design, dating back over 100 years to
1909, when it replaced the Indian Head Cent.
Designed by Victor D. Brenner, it was popular upon
its release, and for the next half century or so, the
coin served regular service in circulation. Though
inflation has since eroded its buying power,
many collectors can trace the beginning of their
collecting days back to this coin.

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How Are Lincoln Cents Collected?

Lincoln Cents are typically collected by date and mintmark, and over the years, three major reverse designs were used.

For the first 50 years (1909-1958), the reverse featured the large
words “ONE CENT” surrounded by two wheat ears. These are the
“Wheaties” and have long since disappeared from circulation.

In 1959, the reverse was changed to feature the

Lincoln Memorial in Washington DC, and this
design served through 2008.

In 2009, to mark the bicentennial of Lincoln’s birth (and the centennial of the cent), a series of four commemorative reverse
designs marking milestones in Lincoln’s life appeared on the cent.

In 2010, a third major reverse design

featuring a shield made its debut, and
is currently minted today.

Metal Composition Throughout the Years

The other major events in the history of the Lincoln Cent concerned its metallic
composition. In 1943, during the critical WWII period, zinc-coated steel was used to
strike the cents, and in 1982, the usual bronze alloy (95% copper and 5% tin and zinc)
used since 1909 was replaced with a zinc core coated with a thin layer of copper. PCGS.COM
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What Are the

Lincoln Cent Key Dates?
Traditionally, the “big three” dates of Lincoln Cents are the
1909-S VDB, the 1914-D and the 1931-S.

The first date of the big three came about because the
earliest coins struck displayed Brenner’s initials at the
1909-S VDB
bottom of the reverse. They were quite visible (previously,
designers had either not signed their work, or concealed
their initial(s) within the design), and public criticism
resulted in the initials being removed a short time later that
year. (They were returned in 1918 at the base of Lincoln’s
bust in very tiny letters.) Just under half a million coins were
struck in San Francisco with “VDB” initials on the reverse,
and while that mintage may not sound low for a $10 gold
piece, it is quite low for a 1 cent coin.

The second coin, the 1914-D, had a mintage of just over

1 million pieces, also low by cent standards. Unlike the
1909-S VDB, which was hoarded somewhat, most 1914-
Ds went into circulation, and today, one of the finest known
survivors recently brought just over $80,000 in an auction.

Finally, the 1931-S was just another low mintage date (struck
at the depth of the depression), and with only 866,000
made, it was recognized early as a date to save. As a result,
while infrequently found in pocket change during the 1940s
and 1950s, a number were saved in uncirculated condition, 1914-D
and today it is not particularly rare in that grade.

There is, however, a fourth tough date worth mentioning:

the 1909-S without the “VDB” initials. This date has always
been overshadowed by coins with “VDB” on the reverse
and really never enjoyed the popularity and notoriety that
came with those initials.

1931-S
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Valuable Dates Due to Mintage Errors

Some of the most valuable Lincoln Cents are actually error Another famous error occurred in 1955, when improperly
coins struck by the various mints. The most valuable is the prepared dies resulted in coins being struck with boldly
1922 cent, struck in Denver but with no “D” mintmark visible. doubled lettering on the date and legend. These coins were
The Philadelphia Mint struck no 1 cent coins that year, and not struck twice as you might suspect, but were the result of
the Denver Mint, under pressure to supply cents, used worn a defective die. It is estimated around 20,000-24,000 were
obverse dies, which had been further damaged to remove made, and many turned up as change from cigarette vending
clash marks. As a result, a few coins were struck with no trace machines in Massachusetts and upstate New York.
of the “D” mintmark.

Doubling is also found on some cents dated 1917, 1936, 1958, 1969-S, 1971, 1971-S, 1972 and 1995, but none are as dramatic
or well known as the famous 1955 Double Die.

The kings of all Lincoln Cent errors, though, are the incorrect metal strikings of 1943 and 1944. While all cents for 1943 were
supposed to be struck in zinc-coated steel, a VERY few were struck (by mistake?) in bronze. Examples from all three mints
(Philadelphia, Denver and San Francisco) are known. Similarly, while the bronze alloy was resumed for 1944, a few 1944s struck
in zinc-coated steel have turned up. Again, all examples from all three mints are known, leading one to doubt how “accidental”
all this might have been. Regardless of their origin, all six of these “off metal” strikes of 1943-1944 are extremely valuable, with
prices in the five to six-figure range.

YEAR: BRONZE MINTMARK: YEAR: STEEL MINTMARK:

1943 D 1944 P

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How Much Are Lincoln Cents Worth?

Well, that all depends on WHICH Lincoln Cent you’re talking about.

Some are worth exactly 1 cent. Pretty

much everything dated 1983 and later
is just a penny. During the 1990s, some
variations in the spacing of the letters “AM”
in “AMERICA” are worth a premium, but you’d
need to consult a reference book for the details.

Cents made from 1959 through 1982 are struck

of almost 100% copper, and with the current price
of copper (about $2.20 per pound) they are worth
about 1.5 cents each. In recent years though,
copper has been as high as $4.50 per lb., which
would put the value of these cents as high as 3 cents
each. Keep in mind though, export and melting of
cents is against the law, so your potential for easy
money is rather limited, to say the least.

Wheaties (made prior to 1959) generally bring about

$2 to $3 per roll now on eBay, but take note of the
shipping charges, which often are nearly as much
as the roll is worth. It’s safe to say, however, Wheat
Cents are worth about 4 or 5 cents each now.

As far as earlier dates go, most of the

mintmarked dates in the teens and twenties
are worth a premium. All of the “S” mints from
1909 through 1915 are good dates, as well
as the 1924-D and 1926-S.

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How Are Lincoln Cents Graded?

Because Lincoln Cents circulated heavily for their first 20 years or so, it is not unusual to see dates
in the 1910s and 1920s worn down to fairly low grades. By the 1930s and 1940s, you usually
don’t see these much less than a grade of VG or Fine. In the 1950s and 1960s, the cent was used
less and less, and most survivors are at least VF or XF. Cents saw relatively little circulation starting
in the 1970s, and most have spent their lives in jars or cans. It is not unusual to see coins dated in
the 1970s and 1980s in circulation, in XF or AU condition, even though they are 30 or 40 years old.

A Lincoln Cent in Good (G) A Lincoln Cent in Very Good (VG)

Typical wear for a date in the 1910s Typical wear for a date in the 1920s

A Lincoln Cent in Fine (F) A Lincoln Cent in Very Fine (VF)

Typical wear for a date in the 1930s Typical wear for a date in the 1940s

A Lincoln Cent in Extremely Fine (EF)

Typical wear for a date in the 1950s PCGS.COM
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How Are Lincoln Cents Graded? (continued)

All copper coins in uncirculated condition are very sensitive to how much original color remains on the coin. New copper coins are
typically “red” in color, displaying full luster. As the coin ages, the color darkens. Coins with some brown color are referred to as
“red and brown,” and coins that have dulled to a full brown color are called “brown,” even though they may still be uncirculated.

A full red Lincoln Cent will display

95% or more of its original color.

A Lincoln Cent with Red and Brown

color will display 25% - 75% of its
original mint red color.

A Lincoln Cent, even though uncirculated,

with Brown color displays less than 5%
of its original color.
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1909 - 1933 Copper Lincoln Cents

Mintage and Collectible Value

Year Mintage Good Fine Extra Fine Uncirculated

1909 72,700,000 $2.00 - $2.50 $3.00 - $3.50 $3.50 - $4.00 $12.00 and up

1909 VDB 27,995,000 $8.00 - $10.00 $11.00 - $13.00 $13.00 - $14.00 $18.00 and up

1909 S 1,825,000 $65.00 - $75.00 $90.00 - $105.00 $125.00 - $140.00 $250.00 and up

1909-S VDB 484,000 $475.00 - $550.00 $575.00 - $650.00 $800.00 - $900.00 $1200.00 and up

1910 146,798,813 $0.50 - $1.00 $1.50 - $2.00 $2.50 - $3.00 $18.00 and up

1910 S 6,045,000 $12.00 - $14.00 $16.00 - $18.00 $24.00 - $27.00 $85.00 and up

1911 101,176,054 $0.50 - $1.00 $2.00 - $2.50 $4.00 - $4.50 $22.00 and up

1911 D 12,672,000 $3.00 - $4.00 $8.00 - $10.00 $27.00 - $30.00 $95.00 and up

1911 S 4,026,000 $28.00 - $32.00 $35.00 - $40.00 $60.00 - $65.00 $160.00 and up

1912 68,150,915 $0.50 - $1.00 $1.00 - $1.50 $7.50 - $8.50 $30.00 and up

1912 D 10,411,000 $5.00 - $6.00 $9.00 - $11.00 $45.00 - $50.00 $110.00 and up

1912 S 4,431,000 $15.00 - $17.00 $23.00 - $26.00 $55.00 - $60.00 $160.00 and up

1913 76,529,504 $0.50 - $1.00 $2.00 - $2.50 $11.00 - $12.00 $25.00 and up

1913 D 15,804,000 $1.50 - $2.00 $2.00 - $2.50 $27.00 - $30.00 $80.00 and up

1913 S 6,101,000 $8.00 - $10.00 $17.50 - $20.00 $40.00 - $45.00 $165.00 and up

1914 75,237,067 $0.25 - $0.50 $0.50 - $1.00 $12.00 - $13.00 $40.00 and up

1914 D 1,193,000 $125.00 - $140.00 $175.00 - $200.00 $600.00 - $650.00 $1700.00 and up

1914 S 4,137,000 $17.00 - $19.00 $23.00 - $26.00 $60.00 - $65.00 $250.00 and up

1915 29,090,970 $0.50 - $1.00 $4.00 - $4.50 $35.00 - $38.00 $75.00 and up

1915 D 22,050,000 $0.50 - $1.00 $3.00 - $3.50 $14.00 - $15.00 $65.00 and up

1915 S 4,833,000 $16.00 - $18.00 $22.00 - $25.00 $50.00 - $55.00 $225.00 and up

1916 131,832,627 $0.10 - $0.25 $0.25 - $0.50 $5.00 - $5.50 $18.00 and up

1916 D 35,956,000 $0.25 - $0.50 $1.00 - $1.50 $9.00 - $11.00 $50.00 and up

1916 S 22,510,000 $0.50 - $1.00 $3.00 - $3.50 $15.00 - $17.00 $75.00 and up

1917 196,429,785 $0.10 - $0.25 $0.25 - $0.50 $3.00 - $3.50 $15.00 and up

1917 D 55,120,000 $0.25 - $0.50 $1.00 - $1.50 $20.00 - $22.00 $55.00 and up

1917 S 32,620,000 $0.25 - $0.50 $0.50 - $1.00 $7.00 - $8.00 $65.00 and up

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1909 - 1933 Copper Lincoln Cents

Mintage and Collectible Value (continued)

Year Mintage Good Fine Extra Fine Uncirculated

1917 D 55,120,000 $0.25 - $0.50 $1.00 - $1.50 $20.00 - $22.00 $55.00 and up

1917 S 32,620,000 $0.25 - $0.50 $0.50 - $1.00 $7.00 - $8.00 $65.00 and up

1918 288,104,634 $0.10 - $0.25 $0.25 - $0.50 $2.50 - $3.00 $10.00 and up

1918 D 47,830,000 $0.25 - $0.50 $1.00 - $1.50 $7.00 - $8.00 $60.00 and up

1918 S 34,680,000 $0.25 - $0.50 $0.50 - $1.00 $7.00 - $8.00 $80.00 and up

1919 392,021,000 $0.10 - .25 $0.25 - .50 $1.00 - $1.50 $8.00 and up

1919 D 57,154,000 $0.25 - $0.50 $0.50 - $1.00 $6.50 - $7.00 $55.00 and up

1919 S 139,760,000 $0.25 - $0.50 $2.00 - $2.50 $3.50 - $4.00 $45.00 and up

1920 310,165,000 $0.10 - $0.25 $0.25 - $0.50 $1.50 - $2.00 $10.00 and up

1920 D 49,280,000 $0.25 - $0.50 $1.00 - $1.50 $12.00 - $13.00 $60.00 and up

1920 S 46,220,000 $0.25 - $0.50 $0.50 - $1.00 $7.00 - $8.00 $85.00 and up

1921 39,157,000 $1.50 - $2.00 $2.00 - $2.50 $6.00 - $6.50 $25.00 and up

1921 S 15,274,000 $0.50 - $1.00 $2.00 - $2.50 $20.00 - $22.00 $100.00 and up

1922 D 7,160,000 $11.00 - $13.00 $17.50 - $20.00 $22.00 - $25.00 $70.00 and up

1923 74,723,000 $0.25 - $0.50 $1.00 - $1.50 $4.00 - $4.50 $10.00 and up

1923 S 8,700,000 $3.50 - $4.50 $6.50 - $7.50 $22.00 - $25.00 $160.00 and up

1924 75,178,000 $0.10 - $0.25 $0.25 - $0.50 $3.50 - $4.00 $13.00 and up

1924 D 2,520,000 $24.00 - $27.00 $35.00 - $40.00 $75.00 - $85.00 $200.00 and up

1924 S 11,696,000 $0.25 - $0.50 $1.00 - $1.50 $12.00 - $13.00 $115.00 and up

1925 139,949,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $8.00 and up

1925 D 22,580,000 $0.25 - $0.50 $2.00 - $2.50 $7.50 - $8.50 $55.00 and up

1925 S 26,380,000 $0.25 - $0.50 $0.50 - $1.00 $7.00 - $8.00 $95.00 and up

1926 157,088,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $7.00 and up

1926 D 28,020,000 $0.25 - $0.50 $2.00 - $2.50 $9.00 - $11.00 $60.00 and up

1926 S 4,550,000 $6.50 - $7.50 $8.00 - $10.00 $20.00 - $22.00 $200.00 and up

1927 144,440,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $7.00 and up

1927 D 27,170,000 $0.25 - $0.50 $0.50 - $1.00 $4.00 - $4.50 $40.00 and up

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1909 - 1933 Copper Lincoln Cents

Mintage and Collectible Value

Year Mintage Good Fine Extra Fine Uncirculated

1927 S 14,276,000 $0.25 - $0.50 $1.00 - $1.50 $9.00 - $11.00 $85.00 and up

1928 134,116,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $5.00 and up

1928 D 31,170,000 $0.25 - $0.50 $0.50 - $1.00 $4.00 - $4.50 $25.00 and up

1928 S 17,266,000 $0.25 - $0.50 $1.00 - $1.50 $6.00 - $6.50 $50.00 and up

1929 185,262,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $5.00 and up

1929 D 41,730,000 $0.25 - $0.50 $0.50 - $1.00 $3.50 - $4.00 $15.00 and up

1929 S 50,148,000 $0.25 - $0.50 $0.50 - $1.00 $4.00 - $4.50 $15.00 and up

1930 157,415,000 $0.10 - $0.25 $0.25 - $0.50 $0.50 - $1.00 $4.00 and up

1930 D 40,100,000 $0.10 - $0.25 $0.25 - $0.50 $1.00 - $1.50 $7.00 and up

1930 S 24,286,000 $0.10 - $0.25 $0.25 - $0.50 $0.50 - $1.00 $7.00 and up

1931 19,396,000 $0.25 - $0.50 $0.50 - $1.00 $2.50 - $3.00 $14.00 and up

1931 D 4,480,000 $2.50 - $3.00 $5.00 - $6.00 $7.50 - $8.50 $45.00 and up

1931 S 866,000 $70.00 - $80.00 $80.00 - $90.00 $85.00 - $95.00 $120.00 and up

1932 9,062,000 $0.50 - $1.00 $1.00 - $1.50 $3.00 - $3.50 $10.00 and up

1932 D 10,500,000 $0.50 - $1.00 $1.00 - $1.50 $2.50 - $3.00 $8.00 and up

1933 14,360,000 $0.50 - $1.00 $1.00 - $1.50 $3.00 - $3.50 $10.00 and up

1933 D 6,200,000 $2.00 - $2.50 $4.00 - $4.50 $5.00 - $5.50 $8.00 and up

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