1931-S Lincoln Cent: If you’ve ever stumbled across an old penny in a jar, drawer, or tucked inside a relative’s forgotten coin album and thought, “This can’t be worth much,” it might be time to take a second look—especially if it’s a 1931-S Lincoln Cent. This unassuming little coin has become one of the most sought-after treasures in American numismatics. Under the right conditions, it could be worth $50,000 or more, and you might already own one without even knowing it.
1931-S Lincoln Cent
| Detail | Information |
|---|---|
| Coin Name | 1931-S Lincoln Wheat Cent |
| Mint Location | San Francisco (S) |
| Total Mintage | 866,000 (second-lowest of all Lincoln Wheat cents) |
| Current Value Range | $90 (circulated) to $42,000+ (high-grade uncirculated) |
| Exceptional Sale Price | Over $50,000 for an MS-67 Red designation |
| Official Coin Grading | PCGS – 1931-S Lincoln Cent |
| Authentication Recommended? | Yes, via PCGS or NGC for serious collectors |
The 1931-S Lincoln Cent is far more than just a piece of copper—it’s a window into America’s past, a symbol of economic struggle, and a prized artifact in the world of numismatics. Its low mintage, historical context, and rising collector interest make it a must-have for serious coin collectors. If you happen to find one in great condition, it could fetch tens of thousands of dollars. So before you dismiss that old jar of coins, take a closer look—you might be holding a piece of history.
Why the 1931-S Lincoln Cent Is So Special
The 1931-S Lincoln Cent is considered a rare gem in the Lincoln Wheat Penny series. What sets it apart is its historical context and extremely low mintage. It was minted during the Great Depression, a time when economic hardship led to significantly reduced demand for coinage. Only 866,000 of these coins were ever produced, making it one of the rarest Lincoln cents to exist.
To put that number into perspective, other Lincoln Wheat pennies—such as those minted in the 1940s—were produced in the hundreds of millions. That sharp contrast gives the 1931-S a scarcity premium that collectors value immensely. And because many were hoarded by collectors even back in the 1930s, high-quality examples still exist today.
How Much Is a 1931-S Penny Really Worth?
When it comes to coin value, condition is king. The better preserved your coin is, the higher its potential market value.
SNAP Payments of Up to $768 for Families of 3 Coming Next Week: Are you Eligible to Get it?
Circulated Condition (Coins That Have Been Used):
- Good (G-4): Typically valued around $90
- Very Fine (VF-20): Often worth $120 or more
- Extremely Fine (EF-40): Can fetch up to $150
Uncirculated Condition (Mint State):
- MS-60: Usually trades around $213
- MS-63: Valued at approximately $244
- MS-65 RD (Red): Can command $779 or more
- MS-67 RD: Has sold for $40,000 to over $50,000 at auction
What Makes the High-Value Ones Stand Out?
Aside from condition and strike quality, another crucial factor is color designation. Coins are graded on their visual appeal and color by leading services like PCGS and NGC:
- RD (Red): Nearly full original red color from the mint; highest value
- RB (Red-Brown): Some red remains; mid-tier value
- BN (Brown): Fully toned; typically lowest value of the three
An MS-67 RD 1931-S Lincoln Cent is considered a top-population coin, meaning it’s among the highest grades ever certified. These elite specimens are highly desirable and often the stars of major coin auctions.
How to Tell If You Have a 1931-S Lincoln Cent
Not sure if your penny is a hidden treasure? Here’s a simple checklist to follow:
Step 1: Check the Date and Mint Mark
Examine the front (obverse) of the penny. If it says 1931 and has a small “S” mint mark just below the year, you might be holding something special.
Step 2: Assess the Condition
Look at the details—are Lincoln’s hair and coat sharp and clear? Is there a shiny surface (luster)? The fewer nicks and scratches, the better.
Step 3: Authenticate and Grade
Professional grading can make or break your coin’s value. Services like PCGS or NGC will grade and encapsulate your coin, giving it a trusted certification that boosts buyer confidence.
Step 4: Compare Against Sold Listings
Before you sell, compare your coin to similar graded coins on auction platforms like Heritage Auctions or eBay. You might be surprised by how prices vary depending on grading and demand.
How This Coin Became a Collector’s Dream
At the height of the Great Depression, people had little money to spend, and coin demand plummeted. The U.S. Mint responded by sharply reducing production, especially at its San Francisco facility. That’s why only 866,000 1931-S Lincoln Cents were struck.
Many numismatists—coin collectors—anticipated this rarity and stored away rolls of the new pennies, leaving many in brilliant uncirculated condition. Because of that foresight, some high-grade coins remain today, waiting to be discovered by new collectors or inherited by unsuspecting family members.
Where You Might Find One Today
You don’t need to go digging through antique shops or museums. The next 1931-S Lincoln Cent could be:
- In your grandparent’s coin jar
- Inside an old family album
- At a garage or estate sale
- Part of an inherited collection
- Sitting unrecognized at a local coin shop
Even if you don’t find this exact coin, other pennies—like the 1909-S VDB, the 1943 copper cent, or the 1955 Double Die—are also incredibly valuable.
Should You Sell or Hold Your 1931-S Penny?
This decision depends on your goals and the market. Here are a few factors to consider:
Reasons to Sell:
- The coin is graded and in demand
- You need immediate funds
- Auctions or marketplaces are experiencing high buyer interest
Reasons to Hold:
- Coin values are expected to rise
- You enjoy collecting and want to build a full set
- The coin has family or sentimental value
Consult with a professional numismatist before selling. They can guide you on timing, pricing, and trusted sales platforms.
These 10 Rare Coins Could Be Worth $764 – Do You Have One?
Over $150,000 for Rare 1964 JFK Half-Dollar Coins: Check How to Spot it!
$112 Million Per Penny? These Rare Coins Could Change Your Life!
Frequently Asked Questions About 1931-S Lincoln Cent
Q1: How do I know if my penny is uncirculated?
Uncirculated coins show no wear, maintain original luster, and have sharp, crisp details. If your coin looks shiny and flawless, it could be in mint state.
CPP Survivor Benefit Increase in 2025: Who will get this increase payment? Check Eligibility
Q2: What’s the difference between RD, RB, and BN color grades?
These grades reflect how much original red copper color remains. RD is best and most valuable, RB is moderate, and BN means it’s fully aged to brown.
Q3: Is professional grading really worth it?
Absolutely. A coin graded MS-67 RD could sell for 50 times more than an ungraded one. Buyers trust certifications from PCGS or NGC.
Q4: Could I still find a 1931-S in circulation?
It’s highly unlikely, but miracles do happen. It’s more realistic to find one in an older collection or estate than in everyday change.
Q5: Where is the best place to sell a 1931-S penny?
Top options include:
- Heritage Auctions
- Stack’s Bowers Galleries
- Reputable coin shows and certified dealers
- Online marketplaces, if the coin is already graded
