1931 S Penny Value
The 1931 S Penny is renowned for its exceptionally low mintage, with only 866,000 coins struck at the San Francisco Mint. This makes it the second-lowest mintage of the entire Lincoln Wheat Penny series, adding to its allure among collectors.
When news spread about the limited production, collectors quickly hoarded the 1931 S pennies. As a result, many examples remain in Mint State condition today, though none are believed to exist in the highest grades. This widespread hoarding has kept prices for the 1931 S penny surprisingly accessible compared to its rarity.
Whether you're a seasoned collector or just starting, the 1931 S Penny is a key date worth adding to your collection for its historical significance and scarcity.
History of the 1931 S Penny
The 1931 S Penny is a key date in the series due to it being the second lowest mintage. Although it’s an important date and would make an ideal addition to round out a Wheat Penny series collection, it is very affordable compared to many of the others in the series. It’s possible to find this coin in circulated grades, although less exist due to many being hoarded at the time of release. Cherrypicking is advised with the 1931-S Wheat Penny to ensure it is well-struck with attractive surfaces. This coin tends to hold its value.
1931-S Wheat Penny Worth
The 1931-S Wheat Penny value ranges from $5,000 to about $7,000 for Mint State uncirculated coins ranging from browns to reds. Although the 1931-S Wheat Penny has a tiny mintage, it is very affordable, all things considered. The Wheat Penny series is accessible for those who want to build a full coin collection without spending a ton of money, especially if creating the collection out of circulated coins.
Value Range:
- Mint State (Uncirculated): The value for 1931-S Wheat Pennies in Mint State ranges from $5,000 to $7,000, depending on the coin's color and grade (brown, red-brown, or red).
- Circulated Condition: Prices for circulated examples start much lower, typically ranging from $80 to $150, making it accessible to those on a budget.
Why It’s Affordable:
While the 1931-S Wheat Penny is rare, its affordability stems from the large number of coins hoarded by collectors when the U.S. Mint announced its low mintage. This saved a significant portion of the coins in better condition, keeping prices reasonable for collectors.
Type of coin: Penny
Year: 1931-S Wheat Penny
Wheat Penny Mint Mark: San Francisco
Total mintage: 866,000
Metal content: 95% Copper, 5% Tin and Zinc
Face value: 1 cent
Weight: 3.11 grams
Edge: Plain
Designer: Victor David Brenner
Diameter: 19.00 millimeters