The 1931-S Lincoln Wheat Penny holds a significant place in numismatic history, not just due to its age but because it’s one of the rarest coins in the Lincoln Wheat Penny series. Produced during the Great Depression, this small copper coin is highly sought after by collectors.
In 1931, the San Francisco Mint struck only 866,000 of these pennies, which is an exceptionally low mintage when compared to other Lincoln Wheat Pennies from the same era, which typically had mintages in the millions. As a result, this penny quickly became a favorite among coin collectors.
To complicate matters, most of the 1931-S pennies entered general circulation, meaning they became worn down over time with nicks and scratches. Consequently, finding one in good or mint condition has become a rare and valuable discovery.
The Rarity of the 1931-S Lincoln Wheat Penny
What makes the 1931-S penny truly exceptional is its limited mintage of only 866,000 coins. In comparison, many other Lincoln Wheat Pennies from the early 1900s were minted in numbers reaching into the tens of millions.
This small production run, combined with heavy circulation, means high-quality examples of the 1931-S penny are incredibly scarce. As with all low-mintage coins, collectors place extra value on those that have remained in better condition. The fewer pristine examples that exist, the higher the demand and price.
Auction Value of the 1931-S Lincoln Penny
The rarity of this penny translates directly to its value. For example, in 2022, a 1931-S Lincoln Wheat Penny graded MS-66 fetched a stunning $95,000 at auction. In the world of coin collecting, an MS-66 grade indicates a nearly perfect coin with sharp detail and vibrant color.
Here’s a quick breakdown:
| Coin Name | Auction Value | Year Sold | Grade |
|---|---|---|---|
| 1931-S Lincoln Wheat Penny | $95,000 | 2022 | MS-66 |
A Must-Have for Coin Collectors
For serious coin collectors, the 1931-S penny is not just another coin — it’s a prized addition. Whether you’re completing a Lincoln Wheat Penny collection or simply hunting for rare finds, this penny is a must-have. Its rarity, historical significance, and high auction potential make it one of the most coveted coins in American numismatics.
Final Thoughts
The 1931-S Lincoln Wheat Penny is more than just a collectible; it’s a small yet significant piece of U.S. history. Minted during the hardship of the Great Depression, it circulated through many hands, and now it stands as a treasure for collectors worldwide. If you’re fortunate enough to find one in excellent condition, you could be holding a valuable piece of numismatic history worth tens of thousands of dollars.
FAQs
Why is the 1931-S penny so rare?
It is rare because only 866,000 of these pennies were minted during the Great Depression.
How much can a 1931-S penny be worth?
In MS-66 condition, a 1931-S penny sold for $95,000 at auction in 2022.
Where was the 1931-S penny minted?
It was minted at the San Francisco Mint, which is identified by the ‘S’ mint mark.
Are most 1931-S pennies circulated?
Yes, most 1931-S pennies were heavily circulated, making examples in mint condition exceedingly rare.
Is this penny a key date for collectors?
Yes, it is considered a key date for serious Lincoln Wheat Penny collectors.