1926-S Lincoln Cent A Conditional Key in Mint State Red

There’s no question that the 1909-S VDB “penny” is the key to the Lincoln Cent series. It’s also undisputed that the next three business-strike key dates are the 1909-S, 1914-D, and 1931-S Lincoln Cents. Add in some popular varieties, such as the 1922 Plain (No D) Lincoln Cent and the 1955 Doubled Die Obverse Lincoln Cent, as well as the legendary off-metal transitional error known as the 1943 Bronze Lincoln Cent, and you have a true cavalcade of sought-after coins.

However, there are also conditional rarities, or coins that may not necessarily be rare in lower grades but are extremely challenging in higher grades. One of the toughest Lincoln Cents in Mint State Red is none other than the 1926-S, a semi-scarce coin in the lower circulated grades and a true challenge in the grade of MS65RD.

What makes this coin so hard to find in the better Mint State grades? Very few examples of the coins were preserved in pristine grades, though it was perhaps difficult to land any superior specimens to begin with. The 1926-S is infamous for its weakly struck surfaces, with many specimens lacking obverse detail in Lincoln’s hair, beard, and ear, as well as softness in the “L” of “LIBERTY.” The reverse commonly shows weakness in the letter “O” of “ONE CENT” and “AM” of “AMERICA.”

Even if one lands a well-struck example, there are additional issues that collectors must watch for, including spotting, staining, and discoloration. Many examples sport undesirable color or other aesthetic imperfections, and oftentimes luster is dull. This all potentially affects not only the numerical grade but also eye appeal. Most Mint State 1926-S Lincoln Cents exist in various states of MSBN to MSRB. Any 1926-S with sharp strike, nice color, and good eye appeal is a worthy find. That indeed bears out when considering the $149,500 sum achieved by a 1926-S Lincoln Cent graded PCGS MS65RD at auction in 2006.