Collector Peter Dickson questions why it took so long for the first 1909-S Indian Head bronze cent with repunched Mint mark struck at the San Francisco Mint to be identified from an overall mintage of 309,000 coins.

“It evidently is the first known to be discovered because it was not listed in Larry Steve and Kevin Flynn’s landmark book, Flying Eagle and Indian Cent Die Varieties [published in 1995],” according to Dickson.

Dickson notes that the authors say at some length that “when it comes to die varieties, there are many that are rare, even ultra rare, but for which there is low to almost no interest among collectors and/or dealers. Or there is or should be some interest, but there has been simply a lack of promotion about certain rarities. Hence, little demand, little market value.”

Dickson suggests collectors who have 1909-S Indian Head cents in their collections should check the S Mint mark position on the reverse at the 6 o’clock position to see if their example illustrates an RPM. Dickson can’t believe his is the only example extant, especially when the average die life for striking bronze cents is 225,000 strikes.

Dickson explains that Steve and Flynn’s reference has a page for each identified cent with photos, with each ranked in terms of rarity and level of interest.

“It notes that there are a few examples of a repunched 1908-S/S. The Professional Coin Grading Service Population Report shows 4 to 5, all brown in lower grades. Rick Snow, the world’s leading expert concerning Flying Eagle and Indian cents, has for sale the highest graded one, Mint State 64 red and brown, as I recall.

“He has stated in his recent books that there is no known similar example for the 1909-S which was the position of Steve and Flynn in 1995.

Dickson explains the 1909-S issue’s mintage of 309,00 coins is the lowest by far for the Indian Head cent.

The key-date 1877 Indian Head cent has a circa 800,000-coin mintage. The rest have mintages in the 5 million to 107 million range.

“However, the 1909-[S] Indian cent being the last year were saved by collectors so the survival rate for those in MS-60 plus is apparently relatively high,” Dickson indicates. “If the repunched die was used for any time, there should be more examples, but given the high profile of the 1909-S it seems inconceivable that it would escape detection for nearly 120 years. After all it is the S Mint which is the overriding issue as to the coin’s value.”

Dickson says he shared photos of his 1909-S Indian Head cent to three dealers and some collectors at the Certified Acceptance Corp. Grading booth at the most recent Whitman Baltimore Coin Expo, “and they all agreed that this was a repunched Mint mark.