The 1867 Indian Head Penny is a highly desirable coin among collectors, primarily due to its rarity and the difficulty in finding well-preserved examples. Having been minted more than 150 years ago, many of these coins were lost or heavily circulated, which has driven up their value, especially in better condition. If you come across an 1867 Indian Head penny, it’s worth paying close attention to its condition, as this will heavily influence its price.
The 1867 Indian Head Penny: A Snapshot of U.S. History
The 1867 Indian Head penny is part of the post-Civil War era and is made from the familiar 95% copper alloy, which was first used in the 1865 penny. While it’s not as historically significant as some of the earlier coins minted during the Civil War, the 1867 version is still of interest to collectors due to its age and rarity. The coin is also notable for its distinctive Indian Head design and its use as currency during a time of growth and transformation in the United States.
Grading the 1867 Indian Head Penny
The grade of your 1867 Indian Head penny is the single most important factor in determining its value. Coins that have been well-preserved will be valued higher than those that show signs of heavy circulation. Below is a guide to help you determine the grade of your coin:
- Uncirculated: An Uncirculated coin has never been used in circulation. It has been preserved in excellent condition, and all details, including the inscriptions and imagery, are clearly visible with no signs of wear. These coins are very rare and highly prized by collectors.
- Extremely Fine: Coins that receive an Extremely Fine grade show only minimal signs of circulation. Though there may be slight fading in the coloration and a small amount of wear on the finer details, the overall condition is still considered pristine. The coin’s design is well-defined, and it looks nearly as good as when it was first minted.
- Fine: A Fine coin will show more noticeable signs of circulation, such as scratches or fading. However, the major design elements, including the coin’s imagery and inscriptions, will still be visible to the naked eye. The color will be more faded compared to higher-grade coins.
- Good: A Good coin will be heavily worn and have visible signs of extensive circulation. The coin may be smooth, scratched, and faded, but the basic design and inscriptions will still be somewhat discernible. Though these coins are commonly found, they are still valuable because of their age and rarity.
Pricing the 1867 Indian Head Penny
The value of the 1867 Indian Head penny is primarily determined by its condition. The better-preserved coins will fetch a much higher price compared to those that have been heavily circulated. Here’s an approximate pricing guide based on the coin’s grade:
| Grade | Price Range |
|---|---|
| Good | $50 |
| Fine | $90 |
| Extremely Fine | $230 |
| Uncirculated | $275 |
- Good: A Good-grade 1867 Indian Head penny, showing significant wear but still identifiable, typically costs around $50.
- Fine: A Fine-grade example, with some wear but mostly visible design elements, will sell for about $90.
- Extremely Fine: The Extremely Fine version of the 1867 Indian Head penny, with minimal wear and most of the details intact, can fetch around $230.
- Uncirculated: The Uncirculated 1867 penny, which is in pristine condition, can be worth up to $275 or more, depending on the exact market conditions and demand.
Why the 1867 Indian Head Penny is Worth Collecting
The 1867 Indian Head penny holds appeal for several reasons:
- Rarity: Due to the age of the coin and the significant number that were lost or worn out over time, 1867 Indian Head pennies are relatively rare in good condition. The Uncirculated and Extremely Fine examples are especially sought after.
- Historical Significance: The 1867 penny represents a time of rebuilding in the United States after the Civil War. The Indian Head design, created by James B. Longacre, is an iconic symbol of the era and has made this series of coins a favorite among collectors.
- Coin Composition: The use of the 95% copper alloy in the 1867 penny makes it a valuable piece for collectors interested in the material changes in U.S. coinage during the 19th century.
- Collectible Value: The 1867 Indian Head penny has a place in most Indian Head series collections. Its rarity, combined with its connection to the broader history of U.S. coinage, makes it a key piece in any collection of early American coins.
The 1867 Indian Head penny is a rare and valuable coin that holds significant appeal for collectors. Whether it’s a coin in Good condition or a pristine Uncirculated example, its value will depend largely on its grade. As with many older coins, the better the preservation, the higher the price, and finding a well-preserved 1867 penny is a rare treasure indeed. If you are a collector, this coin offers a tangible connection to post-Civil War America and is a valuable addition to any collection.
