1980-S Lincoln Cent Proof : A Collector’s Guide

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

The 1980-S Lincoln Cent Proof is a special Proof striking of the Lincoln Memorial Cent that the United States Mint produced at the San Francisco Mint for inclusion in the 1980 United States Proof Set.

The coin is one of six included in the set, which is most known for its inclusion of the failed Susan B. Anthony Dollar. These sets had a face value of $1.91 and were sold at an initial price of $10 per set (46.22 in 2024 inflation-adjusted dollars).

How Much Is the 1980-S Lincoln Cent Proof Worth?

Like all modern coins, the value of the 1980-S Lincoln Cent is determined by several factors.

If the coin is sold in its original government packaging, the cent’s value is not broken out individually but factored into the overall value of the complete set. Even with the novelty of the 1980-S Susan B. Anthony Dollar, the 1980 United States Proof Set has been a historic loser for collectors, selling today for under $8 each. If broken out, the unimpaired 1980-S Lincoln Cent Proof might sell for $2 or $3.

As a certified coin, the 1980-S Lincoln Cent is somewhat problematic. Because it is a copper coin, cents are highly susceptible to changes to their surface chemistry. Over time, this manifests in different ways, including copper spots, hazing, and a mellowing of the coin’s original color. These factors reduce the yield of Proof 69 and Proof 70 coins.

Proof 69 examples generally trade for under $10 each, which is typically below the cost of submission, even in bulk. This makes Proof 70 the only profitable grade for submitters. As time passes, the population of 70s for this date will rise. Yet with over 3.5 million sets produced, the certified population will never accurately reflect the overall availability or scarcity of the 1980-S Lincoln Cent Proof in any given grade.

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Market Data and Noteworthy Specimens

Among the first 16 1980-S Lincoln Cent Proofs graded by PCGS was a run of 13 70s (#7706695-#7706709) from one bulk submission.

Heritage Auctions’ online archives include several listings of these coins in the 2003-2004 time frame, which we take as their initial public offerings. Adjusting for inflation, these coins traded for significantly more money than the 1980-S Proof 70s offered in the second wave of public auctions starting in 2016. At this point, the PCGS population had increased to 33 pieces in “perfect” condition. At this point, the 1980-S Lincoln Cent Proof 70 coins were trading at 40% off or more from previous highs. A June 2024 sale at $873 for one of the bulk 13 represents a decrease in value of more than 85%.

The doubling of the coin’s population is largely to blame. It took 15 years for the 1980-S Lincoln Cent Proof PCGS PR70DCAM population to double from 16 to 32. It has taken less than six years for the total to double again. If this pace continues, expect to see the PCGS population exceed 100 pieces by the end of 2026. If that happens, we expect the price to move to about $500-$600.

Top Population: PCGS PR70DCAM (75, 11/2024), NGC PF70UCAM (13, 11/2024), and CAC PR69DCAM (0:2 stickered:graded, 11/2024).

• PCGS PR70DCAM #7706704: Stack’s Bowers, February 3, 2021, Lot 92022 – Passed; Stack’s Bowers, April 14, 2021, Lot 93088 – $2,040; GreatCollections, June 23, 2024, Lot 1602390 – $873.
• PCGS PR70DCAM #7706708: Stack’s Bowers, April 12, 2023, Lot 91196 – $360. Coin has developed haze. Holder shows signs of improper storage.
• NGC PF70UCAM #5835335-001: Stack’s Bowers, April 12, 2023, 91197 – $800 Reserve Not Met.
• PCGS PR70DCAM #7706698: Heritage Auctions, March 20, 2003, Lot 5266 – $3,565; “The William Bickel Collection, Part One,” Heritage Auctions, July 27, 2005, Lot 5379 – $2,530; “The Stewart Blay Red Copper Collection of Lincoln Cents,” GreatCollections, September 11, 2022, Lot 1204188 – $2,257.88.
• PCGS PR70DCAM #36448389: Heritage Auctions, December 7, 2019, Lot 7104 – $1,140.
• PCGS PR70DCAM #36879792: Heritage Auctions, June 9, 2019, Lot 7188 – $1,080.
• PCGS PR70DCAM #36252732: Heritage Auctions, February 3, 2019, Lot 7165 – $900.
• PCGS PR70DCAM #31416891: Heritage Auctions, April 6, 2017, Lot 17228 – $998.75; “The Five Generations of Eby Collection,” Heritage Auctions, January 13, 2019, Lot 7358 – $1,440.
• PCGS PR70DCAM #7706709: Heritage Auctions, December 13, 2018, Lot 3160 – $3,120.
• PCGS PR70DCAM #7706696: Heritage Auctions, June 29, 2005, Lot 5168 – $2,300; Heritage Auctions, January 8, 2017, Lot 8493 – $822.50.
• PCGS PR70DCAM #33276821: Heritage Auctions, April 28, 2016, Lot 3899 – $1,292.50.
• PCGS PR70DCAM #7706707: Heritage Auctions, September 22, 2005, Lot 1210 – $2,760.
• PCGS PR70DCAM #07706695: Heritage Auctions, July 20, 2004, Lot 5347 – $1,380.
• PCGS PR70DCAM #7706703: “William Bland Collection,” Heritage Auctions, January 8, 2003, Lot 5833 – $3,680; “The I.S. Memorial Collection,” Heritage Auctions, July 26, 2003, Lot 5832 – $1,495.
• PCGS PR70DCAM #7706702: Heritage Auctions, July 29, 2002, Lot 357 – $1,523.75; Heritage Auctions, November 21, 2002, Lot 5607 – $2,530.

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Design

Obverse:

The obverse of the 1980-S Lincoln Cent Proof 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 1980 appears to the right of Lincoln, and the S mintmark of the San Francisco 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 1980-S Lincoln Cent Proof 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).

1980-S Lincoln Cent Proof Specifications

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