The 1931-S Lincoln Cent is a highly sought-after piece among numismatists, renowned for its rarity and historical importance. As it has a mintage of only 866,000, it is among the lowest mint figures in the entire Lincoln Wheat Penny series. This rarity coupled with its distinguishing characteristics has fueled its market value, with certain examples selling for more than $50,000.
Historical Context
The early 1930s were characterized by the Great Depression, a time of severe economic crisis in the United States. In this period, the need for coinage was low, and the San Francisco Mint minted a small quantity of Lincoln Cents in 1931. This low mintage has made the coin highly sought after by collectors.
How to Identify a 1931-S Lincoln Cent
If you think you might have a 1931-S penny, follow these steps to authenticate it:
- Check the Date: Look for “1931” on the obverse (front) side.
- Look for the Mint Mark: A small “S” mintmark below the date indicates it was struck at the San Francisco Mint.
- Inspect the Condition: The better the coin’s condition, the higher its value. A certified professional grading service like PCGS or NGC can help determine its exact grade.
Design and Features
The 1931-S Lincoln Cent maintains the traditional design features introduced in 1909 by designer Victor David Brenner:
- Obverse (Front): Carries a right-facing portrait of President Abraham Lincoln, with the inscriptions “IN GOD WE TRUST,” “LIBERTY,” and the date “1931.”
- Reverse (Back): Displays two stalks of wheat going around the denomination “ONE CENT” and the name of the country “UNITED STATES OF AMERICA,” with the motto “E PLURIBUS UNUM” centered.
Mintage and Rarity
In 1931, the San Francisco Mint issued just 866,000 Lincoln Cents, in sharp contrast to the millions it produced in other years.
This low production has made the 1931-S Lincoln Cent a key date in the series and one that is highly coveted by collectors seeking to complete their set.
Current Market Value
The worth of a 1931-S Lincoln Cent depends on its grade and condition. Following is a table showing the approximate values according to the coin’s grade:
| Grade | Description | Approximate Value |
|---|---|---|
| Good (G-4) | Significant wear; major details visible | $50 – $75 |
| Very Fine (VF-20) | Moderate wear; finer details discernible | $100 – $150 |
| Extremely Fine (EF-40) | Light wear; sharp details | $150 – $200 |
| About Uncirculated (AU-50) | Traces of wear; nearly full mint luster | $200 – $300 |
| Mint State (MS-60 to MS-63) | No wear; some contact marks; full luster | $300 – $1,000 |
| Mint State (MS-64) | Very few contact marks; strong luster | $1,000 – $3,000 |
| Mint State (MS-65 and above) | Gem quality; minimal imperfections | $3,000 – $50,000+ |
High-grade coins, particularly those with a grade of MS-65 and above, can command huge amounts at auctions.
An example is a 1931-S Lincoln Cent graded MS-65 Red that has been known to sell for more than $50,000, highlighting the coin’s investment potential.
Factors Influencing Value
Some factors establish the worth of a 1931-S Lincoln Cent:
- Color Designation:
- Red (RD): Coins with the original red copper color are highly sought after.
- Red-Brown (RB): Display a combination of red and brown color.
- Brown (BN): Mainly brown coloration by oxidation.
- Surface Preservation: Pristine surface, few contact marks, coins require higher premiums.
- Strike Quality: Properly struck coin with well-engraved detail is desirable.
- Luster: Good original mint luster to a coin gives it appeal as well as increases its value.
Where to Sell a 1931-S Lincoln Cent?
If you have a 1931-S Lincoln Cent, consider selling it through:
- Online auction sites like eBay or Heritage Auctions
- Professional coin dealers
- Local coin shops
- Numismatic shows or conventions
- Certified coin grading services (for authentication before selling)
Conclusion
The 1931-S Lincoln Cent is a prized piece for collectors, and its value continues to rise. With only 866,000 minted, finding one in your collection could mean a significant payday. If you come across this rare penny, make sure to authenticate it and consider grading it to maximize its value. Could you be the lucky one holding this $50,000 treasure?
FAQ’s
How do I know if my 1931-S Lincoln Cent is real?
Having a professional grading service such as PCGS or NGC is the best way to verify your coin.
Where can I sell my 1931-S Lincoln Cent?
You can sell your coin to credible coin dealers, auction houses, or internet websites that specialize in numismatics.
Does cleaning my 1931-S Lincoln Cent increase its value?
No
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