The 1873 Indian Head Penny holds a special place in numismatics as one of the first versions of the coin to be minted with a 95% copper alloy. While most examples were heavily circulated, making high-grade specimens rare, it remains a valuable and sought-after piece for collectors.
One of the unique features of this coin is the two variations of the number “3” in the date:
- Closed 3 – The number “3” appears almost fully closed, making it look more compact.
- Open 3 – The number “3” is more spaced out, making it look more distinct.
Both varieties hold significant value, but the Closed 3 version is slightly more desirable.
Grading the 1873 Indian Head Penny
Like other Indian Head cents, grading plays a crucial role in determining the value of this coin.
Uncirculated (Highest Grade)
- Coin has never entered circulation and retains its original mint luster.
- All details, including Liberty’s headdress, feathers, and inscriptions, remain sharp and clear.
- No signs of wear, only minor toning or slight color changes due to age.
Extremely Fine
- Slight signs of wear on high points, such as Liberty’s cheek and the feather edges.
- Most of the details remain sharp, though the mint luster may be slightly faded.
- A very collectible and valuable condition.
Fine
- Noticeable wear on Liberty’s hair, feathers, and lettering.
- The coin is dull and worn, with some loss of fine details.
- Inscriptions and date are still fully readable, but edges may be smoothed.
Good (Most Common Condition)
- Heavy wear across the entire surface, making some details hard to distinguish.
- The date and main design elements are still visible, but significantly faded.
- Despite heavy circulation, even Good-grade examples hold value due to scarcity.
1873 Indian Head Penny Value Chart
This penny’s value depends on both its condition and whether it has an Open or Closed “3” in the date.
| Grade | Closed 3 | Open 3 |
|---|---|---|
| Good | $25 | $22 |
| Fine | $65 | $50 |
| Extremely Fine | $185 | $160 |
| Uncirculated | $235 | $190 |
- Closed 3 varieties command a premium in all grades.
- Even in Good condition, both varieties hold decent value, showing their demand among collectors.
- Uncirculated examples can fetch over $200, making them a strong investment.
Why the 1873 Indian Head Penny is Valuable
- Two Distinct Varieties – The Closed 3 and Open 3 variations make it a unique collectible.
- Limited High-Grade Survivors – Due to heavy circulation, finding one in Extremely Fine or Uncirculated condition is rare.
- Early Copper Composition – Being one of the first years to feature 95% copper adds to its numismatic appeal.
- Consistent Market Demand – Indian Head pennies, especially from the early 1870s, are always in demand among collectors.
The 1873 Indian Head Penny is an excellent addition to any collection, especially in higher grades. While lower-grade examples remain affordable, finding one in Extremely Fine or Uncirculated condition can be quite lucrative. If you happen to own one, verifying the “3” variation and getting it graded could help determine its true market value!
