1931 Penny Value – You may be familiar with the design of the 1931 Lincoln wheat penny, which is because it is still being used today in some form. These coins are intrinsically valuable to collectors because of their age and scarcity, as well as their design. As a result, they are essential for any serious collector.
The portrait picture of Abraham Lincoln graces the coin’s obverse side 1931 Penny. With the contours of his face clearly visible to the naked eye, the President is shown in stunning detail.
An elevated inscription reading “Liberty” can be found to the left of Lincoln’s picture, and the 1931 year of minting is engraved to the image’s right. The motto “In God We Trust” is arched above the top of the obverse.
Two raised inscriptions, one reading “United States of America” and the other reading “One Cent,” occupy the center of the coin on the reverse side. The Latin phrase “E Pluribus Unum” is arched over the top of this side of the coin, and it is how the penny earned its “Wheat Penny” moniker.
The 1931 wheat penny, as well as the 1931 D and S wheat pennies, were minted by the United States Mint without a mint mark. On the obverse side of the coin, below the date, is where the mint mark appears, if present.
Wheat pennies are numismatic coins that have value in 1931. Continue reading to learn more about these one-cent coins.
Facts About The 1931 Wheat Penny
During some of the worst years of the Great Depression, the 1931 penny was minted.
The Great Depression was a decade of hardship that lasted for many Americans, from the economy to their everyday lives.
It was a period of economic difficulties that began with the Stock Market Crash in 1929 and continued until America entered World War II in 1941.
During the early 1930s, life was difficult for most Americans. The economy was so bad at the time that it didn’t really need any additional coins in circulation.
Several US cities saw significant growth between 1929 and 1934. Production of coins was temporarily halted.
What was left over? Lincoln wheat pennies, as you suspected. Millions of Lincoln pennies were created in 1931, however not as many as in previous years.
A total of 24.7 million 1931 Lincoln cents were produced in total. That does sound like a huge number, after all.
Yet consider how little the economy produced in 1929 (277.1 million pennies) or 1934 (247.5 million pennies), and it becomes clear that the economy was producing barely 24.7 million Pennies at the time.
1931 wheat pennies are considered relatively scarce, as you’ll find out below in the mintage numbers for each of the 1931 one-cent issues.
The issue produced at the San Francisco Mint in 1931 was, however, extremely uncommon! In 1931, just 866,000 pennies were produced.
As compared to most other Lincoln pennies, the 1931-S penny is a semi-key cent that is increasingly difficult to find. The 1931-S penny is considered a scarce date by many collectors.
The 1931 Philadelphia (no mint mark) penny and the 1931-D penny created at the Denver Mint are undoubtedly the most costly 1931 pennies ever created that year.
Thankfully, many people recognized the fact that the 1931-S penny was minted in limited numbers and took advantage of it by saving a large amount.
Uncirculated 1931-S pennies account for the majority of surviving coins. Finding a well-circulated 1931-S Lincoln cent is more difficult than finding an uncirculated 1931-S penny in certain cases!
That doesn’t imply that older 1931-S pennies are worth more than Mint State coins. That simply implies the difference in price between lower and higher grades isn’t that wide. Below, we’ll discuss the 1931 penny value in further depth.
How Much Is A 1931 Penny Worth
All 1931 wheat penny varieties are given special attention. In the series, it is the fourth lowest mintage year, with 24,742,000 cents produced in 1931.
At the time, gold coinage accounted for the majority of mint production. The San Francisco issue has a key date and mint mark cent.
-1931 Lincoln Wheat Penny ( No Mint Mark )
On a rarity scale, the most common 1931 Philadelphia cents are well worn, with only minor wear to the surface. They are infrequently found in good condition on a rarity scale.
In excellent shape, a 1931 wheat penny without a mint mark is worth around $1. The worth is roughly $2 in very good condition. The worth is roughly $4 in excellent condition. Coins with an MS 60 grade are currently selling for around $20 in uncirculated condition. Uncirculated coins with a numerical 63 grade might cost $35 or more.
The beautiful golden-red copper sheen of a new cent is lost when older pennies darken in color. Despite losing its brightness when toned to a light tan, a 1931 penny-circulated coin is well received by collectors.
-1931 S Penny Value
In 1931, the city of San Francisco had the lowest number of wheat cents ever recorded. Collectors consider this to be an important date, with a total of 866,000 struck.
Collectors are interested in all levels of condition 1931 wheat penny. Beginning collectors are drawn to worn pieces, which have a limited mint of fewer than 1 million pieces.
The most uncommon and valuable series is the 1931 S wheat penny. In good condition, this coin is worth around $75. The value is roughly $100 in excellent condition. In flawless condition, the coin is worth around $125; in uncirculated condition, the coin is worth around $175.
Uncirculated coins with a 63 grade might cost $200 or more.
To guarantee a genuine 1931 S wheat penny, you’ll want to zoom in on the date. The region surrounding the date should not show any signs of disturbance when viewed under magnification.
In an effort to manufacture a scarce 1931-S, a 1930-S or 1936-S wheat penny with portions of the numbers removed were considered.
-1931 D Penny Value
These Denver mint cents are highly collectible. The appeal of 1931 D Lincoln cents, as well as low mintage numbers (4,480,000 struck), in all grades of condition, suggest excellent prices.
In good condition, a 1931 D wheat penny is worth around $7. The worth is about $10 in excellent shape. The value is about $15 in extremely fine condition. For coins graded MS 60 in uncirculated conditions, the price is about $60. Uncirculated coins with an MS 63 grade may sell for around $70.
In Lincoln’s portrait, a good coin has a defined bow tie and hair. Inspect the digits of the date for any uneven spacing, as this may be an indication of a change.
In an effort to trick people, a 1930-D is changed to a 1931-D.
This is something that heavily depends on a few different factors if you want to know the nominal value of a 1931 Lincoln penny.
Looking for More Information About Coins? Check Other Years From This Lincoln ( Wheat ) Penny Series:
1909 1910 1911 1912
1913 1914 1915 1916
1917 1918 1919 1920
1921 1922 1923 1924
1925 1926 1927 1928
1929 1930 1931 1932
1933 1934 1935 1936
1937 1938 1939 1940
1941 1942 1943 1944
1945 1946 1947 1948
1949 1950 1951 1952
1953 1954 1955 1956
First, the fact that there were often more than 2 different types of Lincolns minted in a given year adds to the condition of the coin’s value, particularly beyond that.
Every penny from 1931 is worth saving. Even a worn 1931 penny with no mint mark, like the most prevalent of all 1931 pennies, is worth significantly more than its face value. The 1931-S wheat penny is the monarch of all 1931 Lincoln cents, as previously stated.
These days, it’s tough to come across 1931-S Lincoln pennies in pocket change. Yet, when researching bankrolls, treasure hunting, and other such endeavors, there are still a few who make that uncommon discovery. Yet, your local coin dealer or online are still the best places to look for a 1931 Penny-S Lincoln wheat penny.