A collection of just 140 Lincoln cents realized $309,303 in Heritage Auctions’ Oct. 26 Makes Perfect Cents Collection sale, led by a 1914-D Lincoln cent graded MS64 Red by PCGS that brought $11,895.
The specialized auction featured Lincoln cents dating from 1909 to 1958, with particularly strong results for high-grade examples from the 1910s through the 1930s. Three coins exceeded $9,000, while five brought more than $8,800.
The collection entered the sale ranked 12th among current Lincoln Cents Basic Sets of circulation strikes on the PCGS Set Registry and 29th on its all-time list. Its quality was reflected in the grades: 93 of the 140 coins were certified MS67 or higher, and every example carried a Red designation, indicating substantial preservation of its original mint color. Even the collection’s three 1943 steel cents were graded MS68.
1914-D Lincoln Cent Tops Auction Results
The auction’s highest price went to the 1914-D Lincoln cent, a challenging Denver Mint issue that becomes particularly scarce in Mint State with original Red surfaces. Although the 1909-S VDB is better known for its low mintage, the 1914-D is more difficult to find in uncirculated condition.
Graded MS64 Red by PCGS, the example offered by Heritage displayed a sharp strike and satiny copper-orange luster accented by reddish-tan toning.
Two Lincoln cents from 1930 followed among the leading results. A 1930-S graded MS67 Red realized $10,980, while a similarly graded 1930-D brought $9,760.
Despite its production of more than 24.2 million coins, the 1930-S is difficult to obtain in Superb Gem condition. The 1930-D also commands attention at the MS67 Red level, where surviving examples rank among the finest certified for the date.
Another San Francisco issue, a 1920-S Lincoln cent graded MS65 Red, achieved $9,223.20. Fully Red examples are scarce in higher Mint State grades, making the coin a notable offering for collectors seeking to improve advanced sets.
Completing the five highest-priced lots was a 1911 Lincoln cent graded MS67 Red, which sold for $8,845. Philadelphia struck more than 101 million cents that year, but very few survive in comparable condition. As of September, PCGS had certified 28 examples in MS67 Red, seven in MS67+ Red and just one finer.
Other Lincoln Cent Highlights
A 1931-D Lincoln cent graded MS66 Red by PCGS and carrying a CAC approval sticker realized $8,540. Denver’s production was unusually limited that year during the Great Depression, with the facility striking just 5,846,500 coins across three denominations: Lincoln cents, Mercury dimes and Saint-Gaudens double eagles.
The collection also included one of the series’ most recognizable key dates, a 1909-S VDB Lincoln cent graded MS65 Red. It sold for $7,625. With a business-strike mintage of only 484,000, the coin remains the lowest-mintage regular-issue Lincoln cent and a longstanding favorite among collectors.
A 1925-S Lincoln cent graded MS64 Red added another $7,320. The issue is particularly elusive with full Red color in 
Leading Prices From the Makes Perfect Cents Collection
| Coin | PCGS Grade | Price Realized |
|---|---|---|
| 1914-D Lincoln cent | MS64 Red | $11,895 |
| 1930-S Lincoln cent | MS67 Red | $10,980 |
| 1930-D Lincoln cent | MS67 Red | $9,760 |
| 1920-S Lincoln cent | MS65 Red | $9,223.20 |
| 1911 Lincoln cent | MS67 Red | $8,845 |
| 1931-D Lincoln cent, CAC | MS66 Red | $8,540 |
| 1909-S VDB Lincoln cent | MS65 Red | $7,625 |
| 1925-S Lincoln cent | MS64 Red | $7,320 |
The results underscored the distinction between mintage rarity and condition rarity in the Lincoln cent series. Several coins with substantial original mintages attracted strong prices because so few examples survive with exceptional strikes, high grades and original Red color.
Heritage’s 140-lot offering averaged approximately $2,209 per coin, demonstrating the value collectors place on premium-quality examples, particularly those capable of improving competitive Registry Sets.
Complete results from the Oct. 26 Makes Perfect Cents Collection auction are available at HA.com/63363.
