When a family cleaning out their grandmother’s attic stumbled upon an old cookie jar filled with coins, they expected nothing more than a few dollars in change. What they didn’t expect was a rare coin hiding in plain sight: a 1931-S Lincoln cent—one of the scarcest and most sought-after pennies from the early 20th century. That single coin, dusty and overlooked for decades, turned out to be a valuable numismatic treasure. Experts were stunned not just by the find but by the coin’s impressive condition. So, how can a nearly 100-year-old penny be worth hundreds—or even thousands—of dollars? Let’s dig into the story and the history behind this amazing coin.
Coin Name: 1931-S Lincoln Wheat Penny
The 1931-S penny belongs to the famous Lincoln Wheat cent series, which ran from 1909 to 1958. Minted in San Francisco, this coin had an exceptionally low mintage—only 866,000 pieces were struck, making it the second-lowest mintage regular-issue Lincoln cent ever produced.
Key Features:
- Obverse: Abraham Lincoln with the date “1931” and mint mark “S” under the date.
- Reverse: Classic wheat ears with the inscriptions “ONE CENT” and “UNITED STATES OF AMERICA.”
- Metal Composition: 95% copper, 5% tin and zinc.
- Weight: 3.11 grams.
- Edge: Plain.
Because so few were made, and many were saved in rolls by collectors at the time, finding one in circulation or casual storage today is extremely rare, especially in fine condition.
Why Is the 1931-S Penny So Valuable?
The 1931-S penny is considered a semi-key date in the Lincoln Wheat series. Here’s why it stands out:
- Low Mintage – With fewer than 1 million produced, it’s incredibly scarce.
- Historical Context – It was struck during the Great Depression when demand for coins was low.
- Collector Demand – It’s a must-have for anyone completing a Lincoln cent collection.
- Condition Matters – A 1931-S in good condition might fetch $75–$150, while one in mint state can sell for $500–$2,500 or more.
The cookie jar discovery shocked numismatists not just because of the date, but because the coin had been protected from heavy wear—preserved for decades without anyone realizing its potential worth.
The story of the 1931-S penny found in a cookie jar reminds us that valuable treasures can be hiding in the most ordinary places. Whether stored in a jar, drawer, or box in the attic, coins like this can hold significant worth. If you ever come across a Wheat penny with an “S” mint mark—especially from 1931—don’t spend it. Take a close look or have it appraised. What seems like a humble cent could actually be a rare coin worth hundreds or even thousands. And if you’re lucky, like the family in this story, a forgotten jar of change might just change your day—or your bank account.
FAQ’s:
1. How can I tell if I have a 1931-S penny?
Look for the date “1931” on the front (obverse) of the coin and a small “S” mint mark below the date. That indicates it was minted in San Francisco.
2. What makes the 1931-S penny rare?
Values range from $75 in good condition to over $2,500 for uncirculated or professionally graded examples.
3. Should I get my 1931-S penny graded?
Yes—if it appears in good or uncirculated condition, submitting it to PCGS or NGC for authentication and grading can greatly increase its value.
4. Where can I sell a rare penny like this?
You can sell through coin dealers, online marketplaces like eBay, or numismatic auctions. For rare coins, having a third-party grading certification helps attract serious buyers.
