1909-S Indian Head Cent Value & Price Guide

The San Francisco Mint struck 309,000 Indian Head cents in 1909. That's it. It was the last year of the Indian Head series and the first year that any branch mint produced cents with the "S" mintmark. Within months, the Lincoln cent had replaced it, and those 309,000 coins became the lowest-mintage issue in a series that had been running since 1859.

Collectors noticed immediately. Unlike some key-date coins that took decades to be recognized, the 1909-S Indian Head was saved from the start. People who noticed the new "S" mintmark on their pennies set them aside. Dealers bought them in small quantities. But 309,000 is still a small number, and most of those coins went into general circulation and were spent like any other penny.

Quick Value Summary

Item: 1909-S Indian Head Cent
Year: 1909
Mint: San Francisco (S mintmark)
Mintage: 309,000
Category: Coins
Condition Range:
  Good (G-4): $376
  Very Good (VG-8): $407
  Fine (F-12): $527
  Very Fine (VF-20): $612
  Extremely Fine (EF-40): $721
  About Uncirculated (AU-50): $929
  Uncirculated (MS-60): $1,345
  Uncirculated (MS-63): $1,599
  Gem Uncirculated (MS-65 RB): $4,000 - $8,000
  Superb Gem (MS-67 RD): $10,000+
Record Sale: $11,162.50 (PCGS MS67RD, Heritage Auctions, August 2014)
Rarity: Rare

The Story

James Barton Longacre designed the Indian Head cent in 1859. Despite the name, the obverse actually depicts Lady Liberty wearing a Native American feathered headdress. Longacre reportedly used his daughter Sarah as the model, though some historians dispute this. The reverse features a wreath of oak leaves and a shield.

For its first 49 years, the Indian Head cent was struck only at the Philadelphia Mint (no mintmark). Then in 1908, the San Francisco Mint began producing cents for the first time, creating the 1908-S Indian Head cent with a mintage of 1,115,000. The 1909-S followed with its much smaller mintage of 309,000.

Why so few? The answer is timing. In August 1909, the Lincoln cent was introduced to commemorate the 100th anniversary of Abraham Lincoln's birth. The San Francisco Mint's production of Indian Head cents was cut short to make way for the new design. The 309,000 that were struck represent the tail end of a production run that was deliberately ended.

This creates an interesting collecting dynamic. The 1877 Indian Head cent has the reputation as the series' key date (with a mintage of 852,500 and heavy circulation losses), but the 1909-S has the lowest actual mintage. Which one is the "real" key depends on who you ask. Both are expensive. But the 1909-S has a specific appeal: it's the last of its kind from a mint that only produced the type for two years.

How to Identify It

The mintmark: Look on the reverse (back) of the coin, below the wreath and above the "ONE CENT" text. The "S" mintmark should be visible. On well-worn coins, the mintmark can be faint but is usually still readable because it's protected by the surrounding wreath design.

Key details:

• Obverse: Lady Liberty facing left wearing a feathered headdress. "UNITED STATES OF AMERICA" around the top. Date "1909" at the bottom.

• Reverse: Oak wreath surrounding a shield, with "ONE CENT" below.

• Composition: 95% copper, 5% tin and zinc

• Diameter: 19mm

• Weight: 3.11 grams

1909-S vs. 1909 (no mintmark): The Philadelphia Mint struck 14,370,645 Indian Head cents in 1909 with no mintmark. These are worth $5-$50 in typical circulated grades. The "S" mintmark is the entire difference between a common coin and a $400+ coin. Look carefully.

Common confusions:

• 1909-S VDB Lincoln cent: This is a different coin entirely. It's a Lincoln cent (not Indian Head) with the designer's initials "V.D.B." on the reverse. Also valuable but a completely separate issue.

• Added mintmarks: Some unscrupulous individuals have soldered or glued an "S" onto a common 1909 Philadelphia cent. Under magnification, a genuine mintmark will show consistent metal flow with the coin's surface. An added mintmark will show a seam or inconsistent texture.

Value by Condition

Good (G-4): $376 Heavy wear but all major design elements visible. The word "LIBERTY" on the headdress band is worn but at least partially readable. The date is clear. At this grade, you're paying for the rarity, not the eye appeal.

Very Good (VG-8): $407 Some additional detail visible in the headdress feathers. "LIBERTY" mostly readable. The reverse wreath shows more definition. The price jump from Good to Very Good is modest, reflecting the reality that most surviving examples are at least VG.

Fine (F-12): $527 About half the detail visible in the headdress. "LIBERTY" is complete and clear. Feather tips show some separation. Dealers currently offer examples at $435-$527 in this grade range.

Very Fine (VF-20): $612 Most details visible. Some wear on the highest points of the headdress and ribbon. Reverse wreath shows clear individual leaves. A PCGS VF-20 example sold for $620 in early 2026.

Extremely Fine (EF-40): $721 Sharp detail with only light wear on the highest points. All feathers distinct. Diamond shapes on the ribbon band visible. This grade represents excellent detail preservation.

About Uncirculated (AU-50): $929 Nearly full mint luster with only the slightest wear on the highest points. At this grade, some original copper color may be visible.

Uncirculated (MS-60 to MS-63): $1,345 - $1,599 No wear, though surface marks from bag contact are present. Brown (BN) coins are less valuable than Red-Brown (RB) or Red (RD) coins, which retain more of their original copper color. An MS-62 Brown (BN) sold for $1,675 in a recent listing.

Gem grades (MS-65+): $4,000 - $11,000+ Full mint luster, exceptional eye appeal, minimal marks. Red (RD) coins at MS-65 or above are genuinely rare. The finest known example, graded PCGS MS-67 Red, sold for $11,162.50 at Heritage Auctions in August 2014.

Color Designations

For copper coins, grading services assign color designations that significantly affect value:

• BN (Brown): The coin has naturally toned to brown. Most circulated and many uncirculated Indian Heads are brown.

• RB (Red-Brown): A mix of original copper-red color and natural brown toning. Usually worth 20-50% more than BN in the same grade.

• RD (Red): Retains significant original copper color. Premium of 100-300% over BN in the same grade. Genuine fully red 1909-S Indian Heads are very scarce.

Authentication and Fakes

Added mintmarks: The most common fraud. A genuine "S" mintmark on a 1909 Indian Head has specific characteristics:

• Consistent metal flow around the mintmark

• The "S" should be slightly recessed into the coin's surface (struck into the die)

• Under 10x magnification, there should be no seam, solder, or adhesive around the mintmark

• The "S" should have the correct font and size for the San Francisco Mint's 1909 punch

Altered dates: Some common-date Indian Heads have been altered to appear as 1909-S. Check that the date style is consistent with genuine 1909 examples.

Cleaning: Cleaned coins lose significant value. Look for unnatural brightness, hairline scratches from polishing, or a "washed out" appearance. Grading services will note "details" grades for cleaned coins, which are worth 30-50% less than equivalent "straight" grades.

Professional certification through PCGS or NGC is strongly recommended for any 1909-S Indian Head. The grading fee ($30-$65 for standard service) is a fraction of the coin's value, and authentication provides essential buyer confidence.

Where to Sell

Auction houses: Heritage Auctions is the dominant venue for US coins. For a coin worth $400-$1,600, their standard consignment terms are reasonable. Stack's Bowers is another major option.

Coin dealers: Local coin shops will typically offer 70-85% of wholesale value. National dealers like APMEX and David Lawrence Rare Coins buy directly.

Online: eBay has an active coin market. For a certified (PCGS/NGC) coin, eBay is efficient. For raw (uncertified) coins, buyer skepticism may depress prices.

Selling costs: PCGS/NGC grading: $30-$65. eBay fees: about 13%. Auction house buyer's premium: 20% (paid by buyer, but affects what bidders are willing to pay). Insured shipping for a $500+ coin: $10-$20.

Not sure about the grade of your coin? Upload a photo to Curio Comp for a quick AI estimate.

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