1929-D Lincoln Cent : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes ….
 

The Denver Mint struck 41,370,000 Lincoln Cents in 1929. The 1929-D, among several others in this cluster of dates, was hoarded by the roll, possibly a result of the Great Depression. The late numismatist David Lange noted in his Complete Guide to Lincoln Cents (2005) that die wear haunts this issue and that many high-grade coins receive their grades because of color and eye appeal alone. From our experience, this is true; one will never find a 1929-D Lincoln Cent sharper than a similarly graded Philadelphia strike. A key point is the overall crispness of the lettering, especially the legend UNITED STATES OF AMERICA, which frequently seems less defined than it should be.

There is one reported doubled die obverse, with loupe-visible doubling on the lettering. There is also one reported repunched mintmark. Neither of these are currently featured in the Cherrypicker’s Guide.

How Much Is the 1929-D Lincoln Cent Worth?

Despite its age, the 1929-D Lincoln Cent is not a rare coin. The typical circulated example will grade below VG and should be avoided as lightly circulated examples with nearly full details can be easily located and cost less than $15. Mint State Red (RD) examples survive, but these coins can easily exceed $200 and are best purchased only if certified by CAC, NGC, or PCGS.

A Choice Uncirculated 1929-D Lincoln Cent with full Red color will be described as MS63RD and retail for about $85.

The value of the 1929-D Lincoln Cent increases as its state of preservation does and as fewer known examples are available – a principle known as “conditional rarity“. Gems (MS65RD) trade for over $500, while coins approaching Superb Gem (MS66+RD is the current finest) have traded for thousands of dollars at auction–more on that below.

* * *

Market Data and Noteworthy Specimens

The Stewart Blay PCGS MS66+RD CAC coin smashed the previous record held by an MS68+RD that was sold by Stack’s Bowers in June 2021. Heritage held a dueling auction for another MS68+RD a week later, but that coin brought nearly $1,600 less. The Stack’s coin returned to the auction block four months after its record-setting appearance (which is unusual), where it hammered for $6,600 – $1,200 shy of its record-setting $7,800 initial sale price!

The Stewart Blay coin sold for $15,772.50. These high numbers were typical for the Blay coins given the collector’s reputation for buying ultimate quality. Even still, the economic realities of the coin market cannot be avoided. For the Blay 1929-D Lincoln Cent to hold its “value”, it has to upgrade to MS67RD at some point. PCGS has added four more MS66+RD coins to the census since May 2023, each one adding more downward pressure on the value of all top-pop coins. Over that same period, NGC has added one coin to its MS66+RD census.

It’s also worth noting that the PCGS MS66+RD CAC example from the Whispering Winds Collection was sold at Heritage Auctions’ January 2025 FUN Signature Auction for $11,400.

Top Population: PCGS MS66+RD (10, 4/2025), NGC MS66+RD (2, 4/2025), and CAC MS66RD (16:0 stickered:graded, 4/2025).

• PCGS MS66+RD CAC #48300190: As PCGS MS66+RD CAC #38257528. “The GL and SL Stonebarger Collection,” Heritage Auctions, June 18, 2021, Lot 3350 – $6,238.80. Hit above the first 9 of the date. Scattered tiny copper spots. Secure Shield holder.. As PCGS MS66+RD CAC #48300190. “The Whispering Winds Collection,” Heritage Auctions, January 16, 2025, Lot 4590 – $11,400.
• PCGS MS66+RD CAC #01504249: “Stewart Blay Collection,” GreatCollections, January 15, 2023, Lot 1272868 – $15,772.50.
• PCGS MS66+RD CAC #41742515: Stack’s Bowers, June 10, 2021, Lot 1332 – $7,800; Heritage Auctions, October 7, 2021, Lot 3045 – $6,600. Circular stain below L. Flashy coin. Hit on beard.

* * *

Coin Specifications

* * *