1931-S Lincoln Cent: If you’ve ever stumbled upon a jar of old pennies, you might be sitting on a small fortune. The 1931-S Lincoln Cent is not just any old coin—it’s one of the rarest and most valuable pennies in American history. Thanks to its low mintage and high demand, this coin has recently fetched over $50,000 at auction, making it a hot topic among collectors and curious Americans alike.
So, what makes the 1931-S Lincoln Wheat Penny so special, and could you unknowingly have one in your collection? Let’s dive in.
1931-S Lincoln Cent
| Key Information | Details |
|---|---|
| Coin Name | 1931-S Lincoln Cent |
| Minted At | San Francisco Mint (“S” Mintmark) |
| Total Mintage | Only 866,000 coins |
| Estimated Value | $50 – $50,000+ depending on condition |
| Recent Auction Price | $38,400 (MS-66+ Red, Jan 2025) |
| Grading Authority | PCGS / NGC |
| Best Resources | CoinWeek Guide |
The 1931-S Lincoln Cent is a tiny piece of history that holds massive value for those lucky enough to find one. Whether you’re a seasoned collector or just starting out, this coin reminds us that treasure can be hiding in plain sight—maybe even in your change jar.
If you believe you own a 1931-S, don’t guess its value. Get it authenticated, graded, and then decide how to preserve or sell your collectible.
The Story Behind the 1931-S Lincoln Cent
A Coin Minted in Crisis
The 1931-S Lincoln Cent was minted during the heart of the Great Depression. With the economy in turmoil, demand for coins plummeted. As a result, the San Francisco Mint produced only 866,000 of these pennies—a tiny number compared to other years. Most people didn’t even notice at the time, but collectors did.
Design That Stands the Test of Time
Like all Lincoln Wheat Cents (1909-1958), the obverse (front) of the 1931-S features a right-facing portrait of President Abraham Lincoln, designed by Victor David Brenner. The reverse side shows two wheat stalks framing the words “ONE CENT” and “UNITED STATES OF AMERICA,” with the motto “E PLURIBUS UNUM” at the top.
How Much Is a 1931-S Penny Worth Today?
Let’s talk numbers. Depending on its condition, the 1931-S Lincoln Cent can be worth anywhere from $50 to over $50,000. Here’s a breakdown:
| Coin Grade | Estimated Value |
| Good (G-4) | $50 – $75 |
| Very Fine (VF-20) | $100 – $150 |
| Extremely Fine (EF-40) | $150 – $200 |
| About Uncirculated (AU-50) | $200 – $300 |
| Mint State (MS-60 to MS-63) | $300 – $1,000 |
| Mint State (MS-64) | $1,000 – $3,000 |
| Mint State (MS-65 and higher) | $3,000 – $50,000+ |
In January 2025, a top-quality 1931-S graded MS-66+ Red sold for $38,400, according to auction records shared by CoinWeek.
What Affects the Value of a 1931-S Lincoln Cent?
1. Color Designation (Red, Red-Brown, Brown)
- Red (RD): Bright, original copper color. Highest value.
- Red-Brown (RB): Some fading; mid-range value.
- Brown (BN): Fully oxidized; lowest value.
2. Surface Condition
Coins with fewer scratches, dings, or wear marks will fetch more. Look for clean edges, defined details, and minimal signs of circulation.
3. Strike Quality
The sharper the details—especially around Lincoln’s beard and the wheat stalks—the higher the grade and value.
4. Mint Luster
Original shine or “luster” from the mint process significantly boosts desirability.
How to Identify and Authenticate Your 1931-S Lincoln Cent?
If you think you have one of these rare coins, don’t rush to sell it just yet.
Step-by-Step Guide
- Check the Date and Mintmark: Look below the date for an “S” mark.
- Inspect the Coin’s Condition: Compare with online guides or grading scales.
- Weigh and Measure: A genuine penny should weigh 3.11 grams and measure 19mm.
- Seek Professional Grading: Use a certified service like PCGS or NGC.
Having your coin professionally graded helps in two big ways:
- Authenticity: Confirms it’s not a fake or altered coin.
- Market Value: Gives you a solid price point if you want to sell.
Where Can You Sell or Buy the 1931-S Lincoln Cent?
Here are some of the best platforms:
- Heritage Auctions – ha.com
- Great Collections – greatcollections.com
- eBay – For verified sellers and buyers
- Local coin shops and coin shows
Make sure to get your coin authenticated and appraised before listing.
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FAQs on 1931-S Lincoln Cent
Is the 1931-S Lincoln Cent the rarest penny?
It’s one of the rarest regular-issue pennies from the 20th century. Only 866,000 were made, compared to hundreds of millions in other years.
How can I tell if my penny is MS-65 or better?
That level of grading requires expert analysis. A coin in Mint State 65 should look nearly perfect, with full luster, sharp details, and no wear under magnification.
Can I clean my penny to make it look better?
No! Cleaning a rare coin can severely reduce its value. Collectors prefer original, unaltered surfaces.
What does “Red” mean in coin grading?
It refers to the color of the copper. Original red color (RD) means higher value than brown (BN) or red-brown (RB).
