Some pennies are worth far more than one cent — and the 1931-S Lincoln Wheat Penny proves it. This tiny copper coin isn’t just a collector’s favorite because of its age; it’s one of the rarest in the Lincoln Wheat Penny series.
With its low mintage and history of heavy circulation, finding one in great shape is like striking gold.
Let’s unpack what makes this coin so special, what it’s worth today, and why it’s one of the most sought-after pennies in U.S. coin history.
Why Is the 1931-S Penny So Special?
Back in 1931, during the Great Depression, the San Francisco Mint produced just 866,000 of these pennies. That’s an extremely low number when you consider other Lincoln Wheat Pennies from the same period were minted in the millions. Because of its scarcity, this penny quickly became a favorite among collectors.
To make matters trickier, most of those 1931-S pennies went into regular circulation. Over time, they picked up nicks, scratches, and wear — which means very few survived in mint condition. That’s what makes high-grade versions of this coin so valuable today.
The Rarity of the 1931-S Lincoln Wheat Penny
It’s the mintage figure of only 866,000 that truly makes this penny a standout. To compare, many Lincoln Wheat Pennies from the early 1900s had mintage numbers well into the tens of millions.
This tiny production run, combined with heavy circulation, makes high-quality examples of the 1931-S penny very hard to come by.
And like with all low-mintage coins, collectors especially prize those that remain in higher grades. The fewer that exist in pristine condition, the higher the demand — and price.
Auction Value of the 1931-S Lincoln Penny
This coin isn’t just rare — it’s valuable. In 2022, a 1931-S Lincoln Wheat Penny graded MS-66 sold at auction for an incredible $95,000. In the coin world, an MS-66 grade means the coin is in near-perfect shape, with sharp detail and brilliant 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 collectors, the 1931-S penny isn’t just another piece of pocket change — it’s a trophy coin. Whether you’re building a full Lincoln Wheat Penny collection or just love chasing rare finds, this is a coin every collector wants to own.
Its rarity, historical context, and massive price potential in high-grade condition make it one of the most desirable coins in American numismatics.
Final Thoughts
The 1931-S Lincoln Wheat Penny is more than just a collectible. It’s a small, copper glimpse into U.S. history — minted in tough economic times, circulated through countless hands, and now sought after by collectors everywhere.
If you’re lucky enough to come across one in excellent shape, you could be holding a genuine piece of numismatic history worth tens of thousands of dollars.
FAQs
Why is the 1931-S penny so rare?
It had a tiny mintage of just 866,000 coins during the Great Depression.
How much can a 1931-S penny be worth?
In MS-66 condition, one sold for $95,000 at auction in 2022.
Where was the 1931-S penny minted?
At the San Francisco Mint, as marked by the ‘S’ mint mark.
Are most 1931-S pennies circulated?
Yes, most were heavily circulated, making mint examples rare.
Is this penny a key date for collectors?
Absolutely — it’s a must-have for serious Lincoln Wheat Penny sets.
