The 1859 Indian Head penny is one of the most iconic and sought-after coins in the U.S. coin collection world, with its value significantly influenced by its condition. Despite not containing silver, the beauty, rarity, and age of these coins make them valuable collectibles.
Here’s a breakdown of the 1859 Indian Head penny value by condition:
- Good: $24
- Very Good: $32
- Fine: $40
- Very Fine: $85
- Extra Fine: $135
- AU (About Uncirculated): $215
- MS 60 (Mint State): $435
- MS 63: $950
- PR 63 (Proof): $1,750
These values reflect the coin’s rarity and condition, and the higher the grade, the more expensive it becomes. Given its historical significance (over 160 years old), an 1859 Indian Head penny in Mint State condition or higher can be quite a valuable addition to a collection.
History of the 1859 Indian Head Penny
The Indian Head penny is one of the most iconic and collectible U.S. coins, minted from 1859 to 1909. These pennies replaced the earlier Flying Eagle pennies and became a significant part of American coinage. Unlike the Large silver pennies minted in the late 18th century, the Indian Head pennies were smaller, made of an affordable cupronickel alloy, and quickly gained popularity due to their practical size and weight.
1859 Indian Head Penny Types
- 1859 No Mint Mark (Philadelphia): 36,400,000 minted
- 1859 Proof (Philadelphia): Estimated 800 minted
The 1859 Indian Head penny is notable for its design. Although the Mint Director J.R. Snowden initially wanted to feature Christopher Columbus on the new penny, James B. Longacre, the chief engraver, decided against it, understanding the public’s reluctance to feature real historical figures on coinage (following Washington’s precedent). Instead, Longacre created a portrait of an Indian girl, which later became one of the most recognizable designs in U.S. coin history. Interestingly, the figure, although meant to be an Indian woman, was designed based on the Crouching Venus statue, which gave her more of a Caucasian appearance.
The design of the Indian Head penny, with its feathered headdress symbolizing American Indian culture, quickly became beloved. It was considered one of the most distinctly American coins of the era and represented a new phase in U.S. currency that was economical and functional while also being attractive and symbolic.
Minting History:
- 1859 Philadelphia struck 36,400,000 coins, making it one of the more common Indian Head pennies.
- A very limited number of proof pennies were minted that year—only about 800, making them extremely rare and valuable to collectors today.
The design and history of the Indian Head penny make it a significant piece in U.S. numismatic history, and its place in American coinage is highly regarded among collectors and enthusiasts alike.
Features of the 1859 Indian Head Penny
James B. Longacre was a skilled artist and one of the earliest Chief Engravers of the U.S. Mint. He designed several notable American coins, including the Indian Head pennies, which were minted from 1859 to 1909, before the iconic Lincoln pennies replaced them.
The obverse of the 1859 Indian Head Penny
The 1859 Indian Head pennies feature a modest design on the obverse. The coin showcases a left-facing portrait of Lady Liberty adorned with a traditional Indian headdress.
A band across her head bears the word “LIBERTY,” a standard inscription found on U.S. coinage. Additionally, the date is included on this side of the coin. The full name of the United States is split into two parts, with “UNITED” on the left and “OF AMERICA” on the right, flanking Liberty’s image.
The reverse of the 1859 Indian Head Penny
The reverse is even simpler than the obverse coin side. Longacre placed the denomination (ONE CENT) in the central position and surrounded it with a laurel wreath.
Interestingly, this design was current only this first minting year. All pieces minted during the following period included a tiny shield and an oak wreath instead. The only visible ornamentation consisted of a bow tying the wreath at the bottom.
| 1859 Indian Head Penny Details | |
| Face value | One cent ($0.01) |
| Shape | Round |
| Compound | Copper-nickel alloy (an 88%: 12% ratio) |
| Coin thickness | 0.09055 inches (2.30 mm) |
| Coin diameter | 19.05 mm (0.75 inches) |
| Coin weight | 0.16472 ounces (4.67 g) |
| Edge | Plain |
Other features of the 1859 Indian Head Penny
Indian Head pennies minted between 1854 and 1864 were thicker and heavier than the later versions, earning them the nickname “Fatty pennies.” These coins had a thickness of 0.09055 inches (2.30 mm), making them 75% thicker than the standard Indian Head pennies.
They weighed 0.16472 ounces (4.67 g), which was a non-standard weight for this type of coin, and had a diameter of 0.75 inches (19.05 mm). The coins were made from an alloy consisting of 88% copper and 12% nickel.
1859 Indian Head Penny Grading
Grading coins, especially vintage pieces like the 1859 Indian Head penny, is a complex process that requires close attention to detail. The value of a coin can vary dramatically depending on its grade, with even slight variations making a huge difference in the price. Below is a general breakdown of coin grades, specifically for the 1859 Indian Head penny, to help you understand the different levels of quality:
- 1 (Basal State-1): The coin is heavily worn with most details completely absent.
- 2 (Fair): Major details are worn down but identifiable, the coin is in poor condition.
- 3 (Very Fair): Some detail remains, but significant wear is evident.
- 4, 5, 6 (Good): More details are visible, but the coin shows wear.
- 7, 8, 10 (Very Good): Some details are still clear, with the coin in better shape than the lower grades.
- 12, 15 (Fine): Clear details are visible, with moderate wear.
- 20, 30 (Very Fine): The coin shows some wear but retains clear definition and sharp details.
- 40 (Extremely Fine): Only minimal wear is visible, with nearly full details.
- 50 (About Uncirculated): Almost no wear; only slight marks from circulation.
- 60 (Mint State): Coin is in perfect condition with no wear.
- 65 (Mint State): Excellent condition with only slight imperfections or handling marks.
- 70 (Mint State): Perfect coin with no visible flaws.
Use this guide as a reference when assessing your 1859 Indian Head penny to get an accurate idea of its value based on its grade.
1859 Indian Head Penny Value Guides
All 36,400,800 1859 Indian Head pennies were struck at the Philadelphia Mint. At that time, coins from the Philadelphia Mint did not carry a mint mark, which is why these pennies are all without one. The majority of these coins were regular circulation strikes, while only an estimated 800 of them were proof coins, which were specially made for collectors.
1859 No Mint Mark Indian Head Penny Value
The 1859 Indian Head pennies were primarily struck for circulation, with most of the 36,400,000 coins minted ending up in everyday transactions. A few hundred proof coins were produced for collectors. The price of these pennies today varies significantly depending on their condition.
Coins in Good condition are the most affordable, typically priced between $24 to $32. As the condition improves, so does the price:
- AU condition (About Uncirculated): $215 to $425
- MS 60: $435
- MS 61: $500
- MS 62: $675
- MS 63: $950
- MS 64: $1,700
- MS 65: $3,000
- MS 66: $5,750
However, MS 67 specimens are rare and highly valuable, fetching between $32,500 to higher amounts at auctions. An exceptional example, a 1859 MS 66+ penny, was sold in 2012 for $34,500, proving how much a high-quality coin from this era can be worth.
1859 proof Indian Head Penny without Mint mark Value
In addition to the regular circulation strikes, the Philadelphia Mint also produced proof pennies in 1859, with an estimated 800 pieces struck for collectors. These proof coins are prized by numismatists due to their high-quality minting, and they come in different types and grades, each with varying prices.
Standard Proof Pennies
- PR 60: $875
- PR 61: $1,050
- PR 62: $1,350
- PR 63: $1,750
- PR 64: $2,800
- PR 65: $4,500
- PR 66: $8,250
- PR 67: $18,000
Cameo (CAM) Proof Pennies are typically priced higher due to their distinct appearance:
- PR 63 CAM: $2,400
- PR 64 CAM: $4,250
- PR 65 CAM: $8,650
- PR 66 CAM: $20,000
- PR 67 CAM: $25,000 – $35,000
Deep Cameo (DCAM) Proof Pennies are the highest-quality proofs and can fetch the most significant amounts:
- PR 65 DCAM: $10,000 – $12,000
Even lower-graded proof pennies can fetch impressive sums at auction. For example, a 1859 PR 65 penny sold for $29,900 in 2010, showcasing how highly sought-after these coins are. Collectors looking for these rare and high-quality pennies should be prepared to spend substantial amounts, especially for the Cameo and Deep Cameo varieties.
Rare 1859 Indian Head Penny Errors List
Though the 1859 Indian Head Penny series has a relatively simple design, a few rare errors still stand out. There are two main types of errors associated with these coins:
1. Die Crack
As dies were used to strike numerous coins, they often developed cracks over time. These cracks would sometimes go unnoticed, resulting in coins with visible errors. Depending on the type of crack, it could be:
- Bi-leveled
- Antipodal
- Shattered
- Retained
- Radial
These cracked die errors were fairly common during the Indian Head penny series, especially in the early years. Coins with such errors from 1859 can range in value from $20 to $40 depending on the severity of the crack.
2. Re-punched Date
The 1859 Indian Head pennies were hand-stamped with dates, making them prone to re-punching errors. Mint workers sometimes stamped the date multiple times, creating subtle variations or more noticeable errors. The value of these pennies can vary greatly depending on the visibility and placement of the re-punching, with prices ranging from $10 to $60.
However, some of these errors can fetch significant amounts at auction, with record prices reaching $1,980 to $6,600.
Notable 1859 Indian Head Penny Sales
- 1859 MS 66+ Indian penny sold for $34,500 at Heritage Auctions (Feb. 2, 2012)
- 1859 PR 65 Indian penny sold for $29,900 at Heritage Auctions (Jan. 6, 2010)
- 1859 PR 66 CAM Indian penny sold for $27,600 at Heritage Auctions (Feb. 9, 2006)
- 1859 MS 64+ Snow-1 Indian penny with re-punched date sold for $6,600 at Stack’s Bowers (Mar. 5, 2019)
- 1859 MS 65 Snow-2 Indian penny with re-punched date sold for $2,820 at Heritage Auctions (Feb. 16, 2017)
- 1859 MS 65 Snow-3 Indian penny with re-punched date sold for $1,980 at Stack’s Bowers (Nov. 30, 2021)
FAQs about the 1859 Indian Head Penny
- What makes an 1859 Indian Head Penny rare? The high mintage of 36,400,000 pennies means that these coins are not rare in circulation. However, their age and rarity in higher grades or proofs make them scarce. Additionally, their unique design, which changed after 1859, adds to their collectibility.
- Which 1859 Indian Head Penny is worth a lot of money? Notable rare sales include:
- 1859 MS 66+: $34,500
- 1859 PR 65: $29,900
- 1859 PR 66 CAM: $27,600
- 1859 MS 64+ Snow-1: $6,600
- 1859 MS 65 Snow-2: $2,820
- How much is the 1859 Indian Head Penny worth? Regular circulated 1859 Indian Head Pennies are worth $20 to $410, depending on the condition. Scarcer, well-preserved examples can fetch between $330 and $5,000, with the most valuable MS 67 examples reaching around $32,500.
- What is the costliest Indian Head Penny? The most expensive Indian Head penny is a 1864 L on Ribbon error coin, which sold for $161,000. Among standard pennies, the 1877 MS 66 Indian Head sold for $149,500, and the 1902 MS 68 Indian Head with red toning sold for $144,000.
Where to Sell Your 1859 Indian Head Penny
If you want to sell your 1859 Indian Head penny, there are numerous online platforms and local dealers you can explore. Some popular online marketplaces include:
- Heritage Auctions
- Stack’s Bowers
- eBay (for casual sellers)
For local sales, finding a reputable coin dealer with good customer reviews is essential.
