The 1870 Indian Head Penny is one of the more sought-after editions in the series. As part of the earlier coins made with a 95% copper alloy, this penny was heavily circulated, meaning that very few have survived in good condition. Due to this rarity, the 1870 Indian Head, regardless of quality, tends to carry a higher price tag than many other Indian Head pennies from the same era. However, coins in exceptional condition, such as those with minimal wear or in Uncirculated state, can command especially high prices.
Grading the 1870 Indian Head Penny
The grade of a coin is crucial when determining its value. The condition of the 1870 Indian Head penny varies significantly due to years of circulation, and the following grading scale can help you assess your coin’s value:
Uncirculated
An Uncirculated 1870 Indian Head penny is the rarest and most valuable version of this coin. These coins were never used in commerce, and as a result, they retain their original shine, with no visible signs of wear or blemishes. The imagery and inscriptions are fully intact. Despite its age, this coin looks almost as it did when it was minted.
Extremely Fine
An Extremely Fine 1870 Indian Head penny has seen some circulation but is still in exceptional condition. The coin will appear a bit duller than an Uncirculated one, but the imagery, inscriptions, and overall structure are mostly preserved. You might see slight signs of wear, but the coin’s overall appearance is still very impressive.
Fine
A Fine-grade 1870 Indian Head penny shows significant signs of circulation. The raised elements of the coin, such as the details in the Indian’s headdress and the wreath, will be visibly worn down due to extensive handling. However, the main features of the coin are still easily identifiable. This grade shows clear signs of age but remains relatively well-preserved.
Good
The Good grade is the most common for the 1870 Indian Head penny. These coins were heavily circulated, and most of the raised imagery has been worn down or smoothed over time. Though the coin is faded and worn, the general design and inscriptions remain visible, making it a valuable piece for collectors, despite its rough condition.
Pricing the 1870 Indian Head Penny
As is typical with Indian Head pennies, the price of an 1870 Indian Head penny depends on its condition. The higher the grade, the more expensive the coin becomes. Additionally, the 1870 coin comes in two varieties, based on the “n” in the “One Cent” inscription: the Shallow N and Bold N. These varieties influence the price range.
Here’s an overview of the 1870 Indian Head penny pricing by grade and variety:
| Grade | Shallow N | Bold N |
|---|---|---|
| Good | $80 | $55 |
| Fine | $220 | $200 |
| Extremely Fine | $400 | $375 |
| Uncirculated | $500 | $450 |
- Good: A Good-grade Shallow N coin is priced around $80, while a Bold N version of the same grade can be found for $55.
- Fine: The Fine-grade Shallow N coin will cost about $220, while the Bold N version in similar condition goes for around $200.
- Extremely Fine: A Shallow N coin in Extremely Fine condition is worth around $400, while the Bold N version is slightly lower at $375.
- Uncirculated: The rarest and most valuable Uncirculated Shallow N coin is priced at $500, while the Bold N version can be found for about $450.
Why the 1870 Indian Head Penny is Valuable
- Rarity: Due to extensive circulation, very few 1870 Indian Head pennies have survived in good condition. This rarity makes them a prized possession for collectors, and their value is generally higher than that of other years.
- Condition: The condition of the coin plays a significant role in determining its value. Higher-grade coins, such as those in Uncirculated or Extremely Fine condition, are much rarer and therefore more valuable.
- Variety: The two varieties of the 1870 Indian Head penny—Shallow N and Bold N—have different levels of demand. The variety with the Shallow N tends to be slightly more valuable, especially in higher grades.
- Historical Significance: As with all Indian Head pennies, the 1870 edition represents an important piece of U.S. history. Coins from this era, especially those in good condition, are a tangible connection to a time of significant social and economic change in the United States.
The 1870 Indian Head penny is a highly sought-after coin, with its value determined primarily by its condition and rarity. Whether you have a Shallow N or Bold N version, the coin is sure to be a valuable addition to any collection. Due to its historical significance and relative scarcity, the 1870 Indian Head penny is a must-have for serious collectors.
