1931-S Lincoln Wheat Penny

Sometimes, the smallest things carry the biggest value—and that’s exactly the case with the 1931-S Lincoln Wheat Penny. While it may look like just another old coin, this little copper piece is one of the rarest and most sought-after in the Lincoln penny series.

With fewer than a million ever minted and even fewer surviving in top shape, this penny has become a collector’s dream—sometimes fetching up to $95,000 at auction!

Rarity

So, what makes the 1931-S penny such a big deal? It’s all about the mintage. In 1931, the San Francisco Mint struck just 866,000 of these coins—an incredibly small number compared to the tens of millions typically minted each year. That alone makes it rare.

To put it in perspective:

See that drop in production? That’s why collectors sit up straight when they hear “1931-S.”

Condition

Now here’s where it gets even more exciting. While many of those 866,000 coins were used in daily transactions and worn down, a few lucky survivors remain in near-perfect condition. These top-grade coins are the holy grail for collectors.

Most of the 1931-S pennies you’ll find today are heavily circulated. But if you find one in high-grade condition—say MS-65 or MS-66—it could fetch thousands, even tens of thousands of dollars. One pristine example graded MS-66 sold for a jaw-dropping $95,000 in 2022.

Value

Just how much is a 1931-S penny worth today? It depends on its condition:

If you happen to own one, check the grade before rushing to sell it. That little difference in condition could mean the difference between a few hundred and a full-blown fortune.

Collector

Why do coin collectors go nuts for this penny? It’s a “key date,” meaning it’s one of the hardest dates to find in the series. Anyone looking to complete a full Lincoln Wheat Penny collection absolutely needs the 1931-S, especially in mint condition.

And let’s not forget the emotional pull: these coins were struck in the midst of the Great Depression, which gives them serious historical weight. Owning one is like holding a small piece of American economic history in your hand.

Tips

Thinking of hunting one down? Here’s what to do:

The 1931-S Lincoln Wheat Penny is living proof that great things come in small, copper-colored packages. Its low mintage, rich history, and explosive auction value make it one of the most iconic coins in U.S. numismatics.

Whether you’re a lifelong collector or just now curious about coins, this penny should be on your radar. Who knows—maybe one is already hiding in your collection, just waiting to be observed.

FAQs

How rare is the 1931-S penny?

Only 866,000 were minted, making it very rare.

What makes it so valuable?

Low mintage and high-grade examples are scarce.

How much is a 1931-S penny worth?

Up to $95,000 in MS-66 condition.

Where was it made?

At the San Francisco Mint (marked by an ‘S’).

What does MS-66 mean?

It’s a grading level meaning near-perfect condition.