The 1871 Indian Head Penny is among the more valuable editions of the series, not because of any special design variations, but due to its scarcity. Many of these coins were heavily circulated well into the 20th century, leading to a sharp decline in surviving examples, especially in high grades. As a result, even lower-quality specimens are highly sought after, and well-preserved examples command premium prices.
Grading the 1871 Indian Head Penny
For coins this old, condition is everything when it comes to value. The grading system provides a standardized way to assess the coin’s condition and, therefore, its price.
Uncirculated
- Best possible condition—never used in circulation.
- Retains original luster and sharp details.
- No visible wear, though minor toning or slight surface marks might be present.
- Extremely rare and valuable.
Extremely Fine
- Shows only light wear on the highest points.
- Most details, including the feather tips and Liberty’s headband, remain crisp.
- Has lost some original luster but is still in exceptional condition.
Fine
- Significant circulation wear, but major details remain visible.
- Raised elements, like the Indian’s headdress and wreath, show noticeable smoothing.
- Scratches and minor blemishes may be present.
Good
- The most common grade for surviving 1871 Indian Head Pennies.
- Most raised features heavily worn, with some inscriptions difficult to read.
- Despite heavy circulation, still a valuable collector’s item due to scarcity.
Pricing the 1871 Indian Head Penny
Because of its rarity, the 1871 Indian Head Penny is significantly more expensive than many other years. Like other Indian Head cents from the 1870s, this edition has two distinct varieties based on the “N” in “One Cent”:
- Shallow N (More Valuable)
- Bold N (Slightly Less Expensive)
Here’s a breakdown of the estimated values:
| Grade | Shallow N | Bold N |
|---|---|---|
| Good | $130 | $70 |
| Fine | $325 | $250 |
| Extremely Fine | $575 | $475 |
| Uncirculated | $650 | $525 |
- Shallow N variety is more desirable, commanding higher prices across all grades.
- Even a Good-grade 1871 Shallow N penny sells for over $130, while an Uncirculated example can reach $650 or more.
- The Bold N variety is slightly more common but still highly valuable, with prices ranging from $70 to $525, depending on condition.
Why the 1871 Indian Head Penny is Valuable
- Scarcity – Fewer surviving specimens than most other Indian Head pennies.
- Condition Sensitivity – Finding an Extremely Fine or Uncirculated example is rare.
- Two Varieties – The Shallow N variety adds an extra layer of collectibility.
- Historical Significance – Minted during the post-Civil War era, making it a piece of American history.
The 1871 Indian Head Penny is a must-have for serious collectors. Whether you own a well-worn example or a high-grade specimen, its value is significantly higher than many other years in the Indian Head series. If you come across one, it’s worth carefully evaluating its condition—even a lower-grade coin can sell for hundreds of dollars!
