The Lincoln penny of 1909, especially the rare version produced in San Francisco, has become one of the sought-after pennys with some fetching values as high as $7,000. The amazing dramatic rise in the worth of this piece from the original face value of only a single cent of dollar is attributed to its small minted quantity and the historical connotations it holds behind it.
The coin itself was made by Victor D. Brenner, a fine artist turned sculptor who specialized in creating portraits. His idea of the penny came from a photograph of Abraham Lincoln taken in his presidential campaign of 1860. It was also the first time in America whereby a coin carrying the image of the current president was produced; hence it was an eagerly awaited issue. As for August 1909, when the new coin was launched, the excitement within the customers could be described as enormous, with many people queuing behind the counters of the Treasury to obtain the coin.
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Anger over the coin
The coin, however, soon found itself at the center of turmoil. Brenner had crudely inscribed “V.D.B” on the reverse of the coin and especially at the bottom center of the coin. Where many coin designers would be guilty of this practice, the focus and size of the initials generated a different reaction. Most people thought the initials were oversized and spoiled the image of Lincoln, which had been purposefully placed as the main focus of the coin. Newspapers of the era revealed the existence of such grievances, and the U.S. Mint had to take action. Production was stopped just days after the introduction of the coin due to complaints over the initials and their inclusion on any further coins’ releases.
However, before the alteration could be done, 484,000 units of the penny coins have been minted at the San Francisco Mint, and these coins now have the distinguishable “S” mint mark with the “V.D.B” initials. Due to their low mintages, this variety quickly became popular among the numismatic managers. In fact, such a coin with a “V.D.B.” name and the “S” inscription could be worth not less than $6000 nowadays, depending on the wear degree. Coins that remain in nearly perfect condition which is referred to as ‘uncirculated’ or ‘mint state’ tend to attract the highest prices when auctioned.
The dispute over Brenner’s initials had far-reaching consequences. Frank A. Leach, the director of the U.S. Mint who had initially approved the inclusion of the initials, incited the discontent of a section of the population and ended up quitting. Generally, Brenner would be unhappy about the removal of his initials, but he would later witness his design attaining a level of popularity, whereby the Lincoln penny remained in circulation for many years.
In order to determine whether they are holding one of these rare and valuable pennies, collectors pay close attention to the presence of certain elements: the letter “S” meaning that the coin was produced in a mint located in San Francisco, the letters “V.D.B.” found on the back side, and also
