The 1868 Indian Head Penny stands out as one of the more valuable editions of this coin series, mainly due to its age and the difficulty in finding well-preserved examples. These pennies, although a part of the larger Indian Head series produced in the 1860s, are often found in poor condition due to heavy circulation over the years. As a result, finding a well-preserved 1868 Indian Head penny can significantly increase its value, making it a rare and highly sought-after piece for collectors.
Grading the 1868 Indian Head Penny
Just like with other coins, the value of the 1868 Indian Head penny is heavily influenced by its grade. Coins that have been circulated extensively show signs of wear and color changes, which can drastically affect their appearance and market value. Here’s a breakdown of the grades you should look out for:
Uncirculated
An Uncirculated 1868 Indian Head penny is one that was preserved in excellent condition right after it was minted. These coins have maintained their original coloration, and their design details are crisp and sharp. Because these coins are extremely rare, they hold significant value in the market. If you’re lucky enough to find one, you’ll have a highly coveted treasure.
Extremely Fine
An Extremely Fine grade for the 1868 penny means that it was circulated for a very short time before being preserved. While there may be some light wear and a bit of fading in the color, the design is still well-defined. Finding one in this condition is incredibly rare and makes it a prized coin among collectors. Despite the fading, the coin’s color remains more consistent compared to lower-grade examples.
Fine
A Fine 1868 Indian Head penny will show visible signs of wear due to years of circulation. The color may be uneven, with some areas appearing more faded than others, and the design will be worn. However, the inscriptions and imagery will still be clear to the naked eye, albeit less sharp than higher-graded examples. This grade is quite common and represents the majority of 1868 pennies in circulation today.
Good
Coins in Good condition will have experienced heavy circulation and show extensive wear and damage. The color of the coin may be very uneven, and the design may be difficult to discern. Despite this, these coins remain valuable simply due to their age and rarity. Most of the 1868 Indian Head pennies you come across will likely fall into this category.
Pricing the 1868 Indian Head Penny
The 1868 Indian Head penny’s value is primarily determined by its grade. Coins in better condition—especially Uncirculated or Extremely Fine specimens—can fetch much higher prices. Here’s a general pricing guide based on the coin’s grade:
| Grade | Price Range |
|---|---|
| Good | $45 |
| Fine | $70 |
| Extremely Fine | $170 |
| Uncirculated | $220 |
- Good: A Good-grade 1868 Indian Head penny, heavily worn but still recognizable, is typically priced around $45.
- Fine: A Fine-grade example, showing visible wear and some fading in color, will generally cost $70.
- Extremely Fine: A well-preserved Extremely Fine 1868 penny, with only minimal signs of circulation, can fetch around $170.
- Uncirculated: The rarest and most valuable grade is Uncirculated, and a well-preserved coin from this year can be worth up to $220 or more.
Why the 1868 Indian Head Penny is Worth Collecting
- Rarity: The 1868 penny is rare in all grades, but coins in Uncirculated or Extremely Fine condition are particularly difficult to find due to the heavy circulation and natural wear over time.
- Coloration Issues: One of the unique characteristics of the 1868 penny is the varying coloration that many of the coins have developed over the years. Some may have uneven fading or discoloration, making well-preserved examples with consistent coloration even more valuable.
- Historical Significance: Like all Indian Head pennies, the 1868 version is a tangible piece of American history. It was minted during a period of great transformation following the Civil War, and coins from this era reflect the cultural and economic changes taking place in the United States.
- Collectible Value: For collectors focusing on the Indian Head series, the 1868 penny is an important and sought-after coin. It holds particular appeal to those looking to complete their sets of 19th-century U.S. coinage.
The 1868 Indian Head penny is a rare and valuable piece, especially for those who can find it in Uncirculated or Extremely Fine condition. Its age, historical context, and unique coloration issues make it a standout among other coins from the 1860s. Whether you are a seasoned collector or a novice, this penny offers an excellent opportunity to own a significant piece of U.S. numismatic history. As always, the condition of the coin will determine its value, so if you come across one, make sure to assess it carefully!
