For a coin produced by the hundreds of billions, the Lincoln cent has a surprising number of genuine rarities. The lowest mintage Lincoln cents include classic key dates born scarce through mint politics or economic collapse, alongside modern issues made scarce on purpose in the era of special sets and privy marks. And as of late 2025, the series has a new absolute champion, one whose mintage makes even the 1909-S VDB look common.
What follows is the countdown: the ten lowest mintage Lincoln pennies ever struck, from a century-old semi-key to the coins that closed the book on the denomination itself.
10. 1911-S Lincoln Cent (4,026,000 Minted)
We begin only a few years after the Lincoln cent’s debut. The 1911-S earned its reputation through sheer persistence if nothing else. Collectors pulled examples from circulation for decades, and yet desirable coins remain elusive. Most were struck reasonably well, though seldom with the crispness found on the 1909 and 1910 issues.
In 2025, GreatCollections sold a magnificent example graded MS66+ Red, which closed at $46,125, a price that says everything about how thin the supply of true gems really is.
9. 1924-D Lincoln Cent (2,520,000 Minted)
The Denver Mint had not struck one-cent pieces since February of 1922 when production resumed in the closing months of 1924. The result was a semi-key issue that is scarce in every grade and becomes a genuine stopper above Extremely Fine.
Most 1924-D cents bear the evidence of that hurried manufacturing: worn dies softening the details, misaligned strikes, weakness toward the right side of both faces, and a characteristically faint O in ONE. But every so often a coin shows up that defies those odds completely. A PCGS-graded MS65+ Red example was exactly that coin, hammering at GreatCollections in 2025 for $39,937.
8. 1909-S Lincoln Cent (1,825,000 Minted)
Overshadowed almost from the moment of its creation by its more famous VDB sibling, the plain 1909-S nonetheless carries a mintage of just 1,825,000 coins and fully earns its place as a key to the series. Many examples display a distinctive wood grain effect or uneven coloration, a side effect of an imperfect alloy mixture used in the planchet stock.
In 2025, Heritage Auctions sold an MS67+ Red example, an absolute stunner of a coin, for $48,000.
7. 1914-D Lincoln Cent (1,193,000 Minted)
The mintage of the 1914-D might seem comparatively high next to the 1931-S or the 1909-S VDB. But those coins were hoarded from the start, as low mintage or first-year issues. The 1914-D enjoyed no such protection. Its true rarity only became understood after the coins had already circulated for a decade or two, and as a result the issue is rare and sought after at virtually every grade point.
A perfect illustration: a PCGS-graded MS66+ Red example sold by Heritage Auctions in 2026 for $128,100, the highest price for any pre-war coin on this list.
6. 1931-S Lincoln Cent (866,000 Minted)
The 1931-S has one of the lowest circulating mintages of the entire series, with nearly all 866,000 coins struck in the opening months of the year. Virtually none entered circulation in 1931, and many were only released years later. By then the low mintage figure was well publicized, and speculators and dealers secured entire bags and rolls, which were promptly pulled from circulation.
This produced one of the great paradoxes of the Lincoln cent series: the 1931-S is fairly obtainable in Mint State today, yet nearly impossible to find in lower circulated grades. In 2025, Heritage Auctions sold a PCGS MS67 Red example for $43,200.
5. 2009 Satin Finish Lincoln Cents (784,614 Minted)
Our next entry is a controversial pick, as it was never intended for circulation. But with a mintage of only 784,614, it warrants inclusion. And it is not just one coin but eight, technically: the satin finish 2009 Bicentennial cents from both Philadelphia and Denver, commemorating 200 years since Lincoln’s birth.
Included in the 2009 Mint Sets, these coins were struck from the pre-1982 95% copper composition and carry a special satin finish, unlike the circulation strikes in copper-plated zinc. Despite the low mintage, values remain modest. An original P and D mint set can still be purchased for $35 to $40, and even a complete slabbed eight-coin set should run under $200. GreatCollections sold exactly such a set, graded SP68 Red by PCGS, for $176 in 2025.
4. 1909-S VDB Lincoln Cent (484,000 Minted)
The story of the 1909-S VDB is far better known, and until very recently it would have easily taken the number one position on most lists. One of the very first Lincoln cents struck for the new series, it carries designer Victor D. Brenner’s initials, VDB, at the bottom of the reverse. That seemingly innocuous design element drew such criticism that the Mint halted production barely days after it began.
Rather than redesign the coin, the Mint simply removed the initials. At San Francisco, this happened after only 484,000 coins had been struck, instantly creating a circulating rarity that collectors would chase for the next century and beyond. When the Stewart Blay Red Copper Collection was dispersed in 2023, a PCGS MS67 Red example sold at GreatCollections for the astounding sum of $345,375.
3. 2019-W Lincoln Cent (346,117 Minted)
The next coin was again never intended for circulation, offered instead as a bonus with the complete mint set purchased directly from the US Mint. The 2019-W uncirculated cent, with a mintage of just 346,117, was struck at West Point, making these the first Lincoln cents ever to carry a W mint mark.
To be fair, there were three such coins that year: the uncirculated cent from the mint set, a proof W cent with a mintage of 600,423 included with the annual proof set, and a reverse proof W cent, mintage 412,508, included in the silver proof set. Most examples, especially the uncirculated coin, can be had for under $100 if grade is not a concern or if bought raw in original packaging. Perfection is another matter: an MS70 Red example typically commands $600 to $1,000, and in 2024 GreatCollections set the auction record when it sold one for $4,612.
2. 2017-S Enhanced Uncirculated Lincoln Cent (210,419 Minted)
Another set-only issue, the 2017-S Enhanced Uncirculated cent came as part of the special Enhanced Uncirculated set struck at San Francisco to celebrate the Mint’s 225th anniversary. The set, and consequently the cent, has a mintage of just 210,419.
Despite that figure, this is far from the most valuable coin on the list. The complete set in original mint packaging can be purchased for $40 to $50 today, and even the full slabbed ten-coin set trades between $100 and $200 depending on grade. A reminder that mintage alone has never set a price. Demand does.
1. 2025 Omega Penny (232 Minted)
And then we reach the number one position, and the lowest mintage Lincoln cent of all time belongs to a modern issue: the 2025 Omega pennies. Never intended for circulation, these were a special run of just 232 coins per issue, each bearing the Greek letter omega (Ω) as a privy mark on the obverse, denoting the very last circulation-strike cents the United States Mint would ever produce. The number is precise by design: one set for every year since the one-cent denomination first entered production in 1793.
The Omega pennies were sold as three-coin sets: a 2025 cent from Philadelphia, a 2025-D cent from Denver, and, for the first time in Mint history, a cent struck in 24-karat gold at the Philadelphia Mint. Together they symbolize the end of the circulating penny in 2025.
When set number 232 crossed the auction block at Stack’s Bowers in December 2025, complete with the actual canceled dies the Mint used to strike the entire run, it sold for no less than $800,000. The average set that day still went for roughly $70,000 to $80,000, meaning six dollars and ninety-six cents in face value brought more than $16 million.
The Long View
The countdown tells a story larger than any single coin. For its first century, Lincoln cent rarity was an accident, of mint politics, of depression economics, of collectors who caught on too late. In its final years, rarity became a product, engineered through special finishes, privy marks, and set-only releases. The Omega pennies sit at the intersection of both: a deliberately tiny mintage that also happens to mark a genuine historical ending. The 1909-S VDB waited decades for the market to understand what it was. The last 232 sets needed exactly one afternoon.
| Rank | Coin | Mintage |
|---|---|---|
| 10 | 1911-S | 4,026,000 |
| 9 | 1924-D | 2,520,000 |
| 8 | 1909-S | 1,825,000 |
| 7 | 1914-D | 1,193,000 |
| 6 | 1931-S | 866,000 |
| 5 | 2009 Satin Finish | 784,614 |
| 4 | 1909-S VDB | 484,000 |
| 3 | 2019-W Uncirculated | 346,117 |
| 2 | 2017-S Enhanced Uncirculated | 210,419 |
| 1 | 2025 Omega Penny | 232 |
Frequently Asked Questions
What is the lowest mintage Lincoln cent ever made? The 2025 Omega penny, with a mintage of just 232 coins per issue. Struck with an omega privy mark to signify the final circulation-strike cents, the coins were sold as three-coin sets by Stack’s Bowers in December 2025, with the final set realizing $800,000.
What is the rarest Lincoln cent that actually circulated? The 1909-S VDB, with 484,000 struck before the Mint removed designer Victor D. Brenner’s initials from the reverse. It remains the lowest mintage Lincoln cent released into general circulation and the most famous key date of the series.
Are low mintage Lincoln cents always valuable? No. The 2017-S Enhanced Uncirculated cent has a mintage of just 210,419, yet complete sets still sell for $40 to $50 in original packaging. Value depends on demand, availability in high grade, and collector history, not mintage alone.
What is the most valuable coin on this list? By single-coin auction record, the 1909-S VDB, at $345,375 for a PCGS MS67 Red example sold in 2023. By set, the final 2025 Omega penny set, which brought $800,000 with the original canceled dies included.
