A PENNY featuring 16th President Abraham Lincoln has sold for more than $200 online.
The coin is a part of the Lincoln wheat cent series, which first entered circulation in 1909.
Eventually, the wheat design was replaced by memorial cent in 1959.
When it comes to Lincoln pennies in general, there are a number of these coins that are quite valuable.
This includes the Lincoln VDB, 1992, and 1914 pennies.
But some might not be aware of the 1931 Lincoln wheat cent and its value.
However, you’ll want to look for an “S” mintmark, which stands for San Francisco. This can be found on the obverse of the coin under the year 1931.
The 1931 S coin is said to have the second-lowest mintage in the entire Lincoln penny series – only behind the 1909 S VDB cent.
“Consequently, since the early 1930’s the coins became very scarce in circulation,” Professional Coin Grading Service’s Jamie Hernandez wrote in a description of the 1931 S penny.
“In fact, during that time some collectors reported finding a 1909-S V.D.B. Lincoln cent in circulation, but they never found a 1931-S.”
Of course, as always with every coin, the value could depend on grade and condition.
The one in the eBay listing sold for $201 after collecting 36 bids. That would mean the penny is now worth more than 2million times its original value.
According to USA Coin Book, the coin is worth $102 in average condition and up to $215 if in an “uncirculated (MS-63)” grade.
The seller of the coin describes the condition of the coin as “AU++.” Those letters stand for about uncirculated.
Currently, you can find some 1931 Lincoln S cents on eBay in bidding wars for under $100.
But make sure you’re aware of possible fakes online.
To avoid this, make sure you check the seller’s history and whether or not the coin was certified in the listing.
What is your spare change worth?
Lincoln pennies aren’t the only coins that could be worth a serious mint.Advertisement
You’ll want to check your change for rare nickels, half dollars, quarters, and others because some of these coins sell for thousands.
The most valuable coins are usually those with a low mintage or an error, as they’re deemed the most valuable by collectors.
To check if your coins are worth anything on eBay, search the full name, select the “sold” listing and then toggle the search to “highest value.”
It will give you an idea of the amount of money that the coin is going for.
You can either choose to sell the coin on eBay or through a specialist site such as Coinappraiser or USA Coin Book.
By Anthony Russo