Every 1209 I have has a wood handle and every 1207 has stacked leather. That being said, I also noticed that this 1207 has fullers. I've seen 1207s with both fullered and unfullered blades, but all my 1209s are fullered.
The fullered versions of each have very similar blades. Since these two models were contemporaries, it might be that a few 1207 blades somehow got mixed up with a stack of 1209s and got wood handles. If so, a factory mistake that would be rather rare if that is the explanation.