1931-S Wheat Penny Value: What Is It Worth in 2026?
Getting this graded by PCGS or NGC before selling usually pays off. Authentication matters too: fakes of key dates are common.
Value by condition
| Good (G-4, heavily worn) | $92 |
| Very Good (VG-8) | $103 |
| Fine (F-12) | $117 |
| Very Fine (VF-20) | $123 |
| Extremely Fine (XF-40) | $154 |
| About Uncirculated (AU-50) | $178 |
| Mint State (MS-63, uncirculated) | $249 |
Only about 866,000 struck — the second-lowest mintage of the series. Hoarded by collectors when new, so circulated examples are more available than the mintage suggests, and the price ladder is gentle until Mint State.
Specifications of a 1931 wheat cent
- Weight:
- 3.11 g
- Diameter:
- 19.05 mm (0.75 in)
- Composition:
- 95% copper, 5% tin and zinc
- Edge:
- Plain (smooth, no reeds)
- Designer:
- Victor David Brenner — initials VDB appear on some 1909 issues
What a 1931 wheat penny looks like
Your 1931-S looks exactly like this, with "1931 and a small S below it" where the date sits in the photo.
How to judge the condition of your coin
- Look at the wheat stalks first. On a worn coin (like the photo — about "Good" grade), the stalk lines are mostly smooth. If every line and grain in the stalks is sharp, you are looking at Extremely Fine or better.
- Then check Lincoln's cheek and jaw. These are the highest points on the front. Wear shows there before anywhere else; a flat cheek means a lower grade.
- When in doubt, grade down. Sellers systematically overgrade; use the lower row of the price table and you will not be disappointed.
Worn-coin photo: Mark Morgan, CC BY 2.0, via Wikimedia Commons.
1931 penny: mints compared
| Version | Mintage | Value range |
|---|---|---|
| 1931-D Wheat Penny | ~4.5 million struck | $8.64–$87 |
| 1931 Wheat Penny | ~19.4 million struck | $1.24–$43 |
| 1931-S Wheat Penny (this page) | ~866,000 struck | $92–$249 |
Mintage and value can differ a lot by mint mark — compare the versions above before assuming yours is the common one.
How to confirm it's genuine
- The mint mark sits directly below the date — it should be the letter "S". A magnifier with light at a 45° angle works best.
- Never clean the coin: cleaning destroys the original surface and can cut the value in half.
- For any coin worth more than $200, PCGS/NGC grading fees (~$20–50) are money well spent.
Where to sell this coin
- eBay works best in the $1.00–$200 range. Take clear photos of both sides in natural light, and put the year, mint mark, and approximate grade in the title.
- A local coin dealer is the fastest way to cash out, but expect 60–70% of guide prices. Best for selling common dates in bulk.
- Graded high-value coins do best at auction houses like Heritage Auctions or Stack's Bowers, where realized prices are public.
Common questions about the 1931-S Wheat Penny
How much is a 1931-S Wheat Penny worth?
Guide values run from $92 in Good (worn) condition up to about $249 in MS-63 uncirculated. These are retail guide figures, not offers to buy — a dealer typically pays 60–70% of guide, and top auction results for superb grades can exceed them. Check the grade table on this page against your coin's actual wear before assuming a number.
Where is the mint mark on a 1931 wheat penny?
On the front (obverse), directly below the four-digit date 1931: a small "S" below the date confirms the San Francisco Mint. The mint mark matters — the same year can have very different values at different mints, which is why this site lists each mint separately.
Is a 1931-S Wheat Penny rare?
Relatively speaking, yes: only ~866,000 struck, one of the lower mintages of the wheat cent series. Even worn examples sell above face value.
Should I get my 1931 penny professionally graded?
Yes, if the coin is genuinely uncirculated or shows the key diagnostics for this issue. This is a coin where grading (roughly $20–50 at PCGS or NGC) can pay for itself, because certified examples sell for meaningfully more than raw ones. Have it looked at before attempting any cleaning — cleaning destroys value.