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There are 6 possibilities for a cent dated 1909. Some are very valuable, others are only moderately rare. Numismedia lists the following approximate retail values as of 03/2011:

Indian head design, no mint mark(Philadelphia)

Very worn condition - $8

Moderately worn - $12

Slightly worn - $13

Almost no wear - $28

Uncirculated - $37 to $312 depending on quality

Indian head design, "S" mint mark under the wreath(San Francisco):

Very worn - $489

Moderately worn - $552

Slightly worn - $670

Almost no wear - $876

Uncirculated - $980 to $2,310

Lincoln design, no mint mark, letters VDB on the back at the bottom rim

Very worn - $8.63

Moderately worn - $10.35

Slightly worn - $11.50

Almost no wear - $14.60

Uncirculated - $19.20 to $156.00

Lincoln design, "S" mint mark under the date, letters VDB on the back at the bottom rim

Very worn - $750.00

Moderately worn - $1060.00

Slightly worn - $1180.00

Almost no wear - $1630.00

Uncirculated - $1660.00 to $4260.00

Lincoln design, no mint mark, no letters at the bottom rim

Very worn condition - $2.13

Moderately worn - $2.59

Slightly worn - $3.45

Almost no wear - $9.80

Uncirculated - $13.20 to $94.90

Lincoln design, "S" mint mark under the date, no letters at the bottom rim

Very worn - $79.35

Moderately worn - $105.60

Slightly worn - $132.00

Almost no wear - $264.00

Uncirculated - $300.00 to $720.00

DISCLAIMER: The retail values quoted are the best available as of the date shown, but may vary significantly due to changes in the market. Also the wholesale (buying) price of a coin will be less than the selling (retail) price. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.

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Q: What is the value of a 1909 US cent?
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