1991-D Lincoln Cent : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

The Denver Mint struck 4,158,442,076 Lincoln Memorial Cents in 1991. Although this is an astronomical number, this would be the lowest D-Mint cent output for the entirety of the 1990s (the Gulf War recession of July 1990 to March 1991 was largely to blame).

Collecting the 1991-D Lincoln Cent

In circulated condition, the 1991-D Lincoln Cent is a coin that carries no collectible premium. The following market information is based on Mint State Red coins that have been certified by a leading grading service (either CAC, NGC, or PCGS).

The 1991-D Lincoln Cent is a common coin typically encountered in Superb Gem condition and collectors should have no problem acquiring a certified example for as little as the cost of certification to as much as $90 for an example in MS68RD.

Most of these coins are sourced from the United States Mint’s 1991 Uncirculated Coin Set, which contained one example of each coin struck for circulation by the Philadelphia and Denver Mint facilities. The Mint reported sales of 1,352,101 of these sets, which contain $4.82 face value in coins and sold for $11 in 1991 ($25.73 in 2024 inflation-adjusted dollars). These sets sell for less than $10 today on sites like eBay.

The ultimate grade for the issue is MS69RD, and at this level, PCGS and NGC report a combined total of 29 pieces. We believe that these populations may double, as nary a fraction of the available coins have been sent in for certification and the general economic principle of low cost and high return holds for this date – assuming one has the necessary grading skills to identify “the best of the best.”

The 1991-D Lincoln Cent in MS69RD has sold recently for prices ranging from $3,500 to $11,000. There is no market basis for such a wild swing. The $11,000 coin is not a shot MS70RD and the MS69RD coins are likely not so inferior to justify a discount price. Rather, market inefficiencies, FOMO over-exuberance, and other non-obvious factors seem to be at play.

The PCGS population of MS69RD coins increased from three coins as of January 2022 to nine as of September 30, 2024. This puts the population of 1991-D Lincoln Cents in that grade just five behind the population the 1992-D. The current market value of the 1992-D in MS69RD is about $3,500.

NGC coins in MS69RD sell at a significant discount. CACG, a relatively new full-service grading company, has certified only three examples of the 1991-D Lincoln Cent and has yet to grade one finer than MS67RD.

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Market Data and Noteworthy Specimens

The PCGS population of MS69RD coins increased from three in January 2022 to nine as of September 30, 2024.

Top Population: PCGS MS69RD (9, 9/2024), NGC MS69RD (20, 9/2024), and CAC MS67RD (0:2 stickered:graded, 9/2024).

• PCGS MS69RD #47745837: GreatCollections, November 12, 2023, Lot 1168391 – View; David Lawrence Rare Coins, Listed for sale online, September 2024 – $5,850. Tiny diagonal tick on lower stairs.
• PCGS MS69RD #48121532: GreatCollections, January 21, 2024, Lot 1434993 – View.
• PCGS MS69RD #47352718: GreatCollections, September 24, 2023, Lot 1374323 – View.
• NGC MS69RD #5764684-006: Heritage Auctions, April 30, 2023, Lot 54789 – $720.
• PCGS MS69RD #46962332: GreatCollections, April 2, 2023, Lot 1081100 – View.
• PCGS MS69RD #9628381: “The Reverend Rock Collection,” Heritage Auctions, February 25, 2022, Lot 3458 – $11,400.
• PCGS MS69RD: Bowers and Merena, June 17, 2010, Lot 1434 – $5,405. Diagonal mark across A of STATES.

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Design

Obverse:

The obverse of the 1991-D Lincoln Cent was designed by Victor David Brenner and appears largely as it did when the type was first minted in 1909. The main difference between the modern obverse versus the 1909 version is the location of Brenner’s initials, V.D.B., which were added under Lincoln’s bust in 1918 after their removal from the reverse in late 1909. The year 1991 appears to the right of Lincoln, and the D mintmark of the Denver Mint appears below the date. The motto IN GOD WE TRUST appears above the president, and behind him (viewer’s left) is the word LIBERTY.

Reverse:

Frank Gasparro designed the 1959 Lincoln Memorial reverse, replacing the original 1909 Brenner wheat stalk design. Gasparro’s initials FG appear on the lower-right side of the Lincoln Memorial. The denomination written out as ONE CENT is below the Memorial and along the rim, while the legend UNITED STATES OF AMERICA runs along the top half of the reverse along the rim. Between the top of the Lincoln Memorial and UNITED STATES OF AMERICA is the motto E PLURIBUS UNUM.

Edge:

The edge of the 1991-D Lincoln Cent is plain or smooth.

Lincoln Memorial Cent Designers

Lithuanian-born coin designer Victor David Brenner is best known for his iconic design for the Lincoln Cent (1909-Present) (View Designer’s Profile).

Frank Gasparro was an American medalist and coin designer. He joined the Mint’s Engraving Department in 1942 under John R. Sinnock and worked under Gilroy Roberts as Assistant Engraver. Gasparro succeeded Roberts as Chief Engraver of the U.S. Mint on February 23, 1965, and served until January 16, 1981. He died on September 29, 2001 (View Designer’s Profile).

1991-D Lincoln Cent Specifications

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