The 1931-S Lincoln Penny is one of the most coveted coins among collectors due to its rarity and historical significance. Known for its low mintage and immense value, this penny could be hiding in plain sight, perhaps even in your coin jar.
This article explores why this coin is so valuable, what makes it unique, and how you can determine if you possess one.
1931-S Lincoln Penny
The 1931-S Lincoln Penny was minted in San Francisco during the Great Depression. With only 866,000 pennies produced, it ranks as one of the rarest Lincoln Cents. Many of these coins were hoarded by collectors at the time of their release, leaving fewer in circulation today.
Design Features
The coin features the classic Lincoln portrait on the obverse, designed by Victor D. Brenner. Its reverse side displays the wheat stalks that are characteristic of Lincoln Wheat Cents.
The “S” mintmark, located below the date, signifies its San Francisco origin. This small detail is crucial for identifying this rare coin.
Condition and Value
The value of the 1931-S Lincoln Penny varies depending on its condition. While heavily circulated coins might fetch a few hundred dollars, those in mint-state condition have sold for as much as $87,900 at auction. Grading services like PCGS and NGC are essential for determining the coin’s condition and market value.
Factors Influencing Value
Several factors contribute to the high value of this coin. Its limited mintage, historical context, and demand among collectors are the primary reasons. Coins with a strong strike, minimal wear, and original red color command the highest prices.
How to Identify
To identify a genuine 1931-S Lincoln Penny, examine the coin for the “S” mintmark and the 1931 date. Authentic examples often show fine details in Lincoln’s hair and the wheat stalks. Counterfeit coins are common, so professional verification is recommended.
Auction Records
1931-S Lincoln Pennies have set significant auction records. High-grade examples regularly sell for thousands of dollars, with top-tier specimens exceeding $87,000. These coins remain a popular choice for both novice and experienced collectors.
| Coin Grade | Auction Price | Year Sold | Auction House |
|---|---|---|---|
| MS-67 RD | $87,900 | 2019 | Heritage |
| MS-66 RD | $60,000 | 2018 | Stack’s Bowers |
| MS-65 RD | $45,000 | 2017 | Legend Rare |
| XF-45 | $1,200 | 2021 | GreatCollections |
| VF-20 | $500 | 2020 | David Lawrence |
| G-4 | $250 | 2019 | eBay Auctions |
| AG-3 | $150 | 2022 | Local Coin Shop |
Even coins in lower grades are valuable, making the 1931-S Lincoln Penny an exciting find for any collector.
Finding this penny in your collection could be a life-changing discovery. Its rarity and high demand ensure that it will remain a centerpiece in numismatics.
What Makes the 1931-S Lincoln Penny Valuable?
Its low mintage, historical significance, and demand among collectors make this penny highly valuable.
How Can I Verify If I Have a Genuine 1931-S Lincoln Penny?
Look for the “S” mintmark and ensure the details match known authentic examples. Professional grading services can confirm its authenticity.
What Is the Highest Grade for a 1931-S Lincoln Penny?
The highest grade is MS-67 RD, which indicates a near-perfect, mint-state condition with original red color.
