The effects of the Great Depression are reflected in this small mintage---only one-eighth that of 1930. Fortunately for today's collectors, there was already a steady following for Lincoln Cents at the time, and enough were preserved to make fully red gems only slightly scarce. Worn examples are somewhat scarcer than for Philadelphia Mint cents of earlier years, but they certainly are not rare.
Most cents coined during the worst years of the Depression (1931-33) are almost routinely well struck from unworn dies. This is due in part to their limited numbers, but there also seems to have been more care taken at this time when even Mint jobs were threatened.
Mintage:
| Philadelphia | Denver | San Francisco |
| 19,396,000 | 4,480,000 | 866,000 |