The Indian Head pennies made their debut in 1859, and they continued to be minted until 1909 when they were replaced by the Lincoln cent. These coins held the position of the lowest-value currency in the United States after the Mint ceased the production of half-cent coins in 1857.
Compared to the initial cents produced during the Civil War, later Indian Head pennies were made with a lighter weight and a different alloy composition. This change, along with their historical value, significantly impacts the market price of the 1893 Indian Head penny. Interestingly, these coins are still considered legal tender today.
| 1893 Indian Head Penny value Chart | |
| Condition | 1893 No Mint mark penny |
| Good | $3.54 |
| Very good | $4.85 |
| Fine | $6.11 |
| Very fine | $9.79 |
| Extra fine | $24 |
| AU | $33 |
| MS 60 | $71 |
| MS 63 | $98 |
| PR 63 | $306 |
History of the 1893 Indian Head Penny
The first American pennies were minted in 1793, known as Flowing Hair pennies with a chain design, and they were made of 100% copper. These Large Cents weighed 208 grains (13.48 g/0.475 ounces), and their large size made them impractical for everyday use.
1893 Indian Head Penny Types:
- Location: Philadelphia
- Year: 1893
- No Mint Mark Penny: 46,640,000
- No Mint Mark Penny (Proof): 2,195
- Total Mintage: 46,642,195
In 1856, the US Mint began producing Small Cents, and the Indian Head pennies, first minted in 1859, became the second type in this series. These coins marked the final design with an imaginative portrait on the obverse, as the subsequent pennies featured the portrait of Abraham Lincoln, ushering in a new era of American coinage.
The 1893 Indian Head pennies were struck at the beginning of the Panic of 1893, a major economic depression that led to a significant reduction in mintages in the following year. Only about one-third of the total mintage in 1893 was produced in 1894.
Features of the 1893 Indian Head Penny
Although Indian Head pennies are among the oldest coinage still officially recognized by the U.S. and the world, they are no longer used in everyday transactions. Over time, most of these coins have either been melted down, heavily worn, or saved by collectors. As a result, almost all pennies currently in circulation are Lincoln cents, regardless of the year they were minted. The Indian Head pennies, with their rich history, are primarily valued today as collectibles rather than everyday currency.
The obverse of the 1893 Indian Head Penny
The 1893 Indian Head cents feature a straightforward design, with Lady Liberty depicted in the center. She is shown wearing a headdress that is historically inaccurate for her gender and race, with the word “LIBERTY” inscribed above her forehead.
Along the rim of the coin, you’ll find the date (1893) and the word “UNITED STATES OF AMERICA” surrounding it, along with a denticle rim that adds to its visual appeal. While most of the circulated coins from this series tend to appear somewhat dull due to age and wear, proof versions stand out with their striking, reflective surfaces. These proofs often display a beautiful range of red to purple hues, making them highly sought after by collectors for their aesthetic appeal.
The reverse of the 1893 Indian Head Penny
In 1893, the reverse of the Indian Head penny was updated by designer James B. Longacre. Instead of the laurel wreath featured in the initial design, an oak wreath was introduced, wrapping around the coin. Above the wreath, you can also spot a shield, adding a touch of distinctiveness to the reverse side.
At the time, the coin’s reverse only displayed the denomination, without the two mottos (“E Pluribus Unum” and “In God We Trust”) that would be added in later years by law. All 1893 Indian Head pennies were minted in Philadelphia, so no mint marks are found on these coins.
If you’re looking for an accurate appraisal or considering selling your coins, you can use a verified platform to get a free appraisal and sell your coins. This ensures that you get a fair evaluation for your valuable pieces.
| 1893 Indian Head Penny Details | |
| Face value | One cent ($0.01) |
| Shape | Round |
| Compound | An alloy of 95% copper with traces of zinc or tin |
| Coin thickness | 1.47 mm (0,05787 inches) |
| Coin diameter | 19.05 mm (0.75 inches) |
| Coin weight | 3.11 g (0.10970 ounces) |
| Edge | Plain |
Other features of the 1893 Indian Head Penny
The 1893 Indian Head pennies are noticeably lighter and made from a different alloy compared to the earlier Civil War-era pennies minted between 1859 and 1864. These coins are composed primarily of copper, making up 95% of the total metal content, with no nickel included in the mix.
Each 1893 Indian penny weighs 3.11 grams (0.1097 ounces) and has a diameter of 19.05 mm (0.75 inches), which is standard for Indian Head pennies. However, they are thinner than the early sets, with a thickness of only 1.47 mm (0.05787 inches), giving them a more streamlined appearance compared to their predecessors.
1893 Indian Head Penny Grading
To determine the true value of a coin like the 1893 Indian Head penny, proper grading is essential. As most of these coins can be quite valuable, the best approach is to have them professionally evaluated.
Reputable grading companies like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) are trusted by collectors and dealers alike. A certified coin often fetches a higher price as collectors value the authenticity and professional evaluation it comes with.
However, if you’re working with a coin that is in lower condition, grading it yourself might be an option. Keep in mind that this approach is best for coins with lower grades, as you won’t get the same premium price as you would with professionally graded specimens.
Here’s a general guide to the grading scale:
- Basal State-1: Coin is severely worn, and nearly all detail is gone.
- Fair: Only the most basic details of the coin are visible.
- Very Fair: A lot of detail is worn away, but the coin is still identifiable. 4, 5, 6. Good: Significant wear, but the coin’s design is still recognizable. 7, 8, 10. Very Good: Heavy wear, but the coin’s details are still legible. 12, 15. Fine: Moderate wear, but most details are clearly visible. 20, 30. Very Fine: Considerable detail remaining, but signs of wear are visible.
- Extremely Fine: Slight wear on high points, with most details intact.
- About Uncirculated: Minimal wear, with some slight signs of circulation.
- Mint State: No wear, but there may be slight imperfections due to minting.
- Mint State: Well-struck and with few imperfections, excellent condition.
- Mint State: Perfect condition, as if just minted.
Knowing the grade of your coin is the key to understanding its true value. Make sure to refer to detailed grading guides to help you assess its quality properly!
1893 Indian Head Penny Value Guides
The 1893 Indian Head pennies were solely produced at the Philadelphia Mint. A total of 46,642,195 coins were minted, which includes both regular circulation strikes and more than 2,000 proof versions aimed at collectors. The value of these coins is largely determined by their luster and the quality of their toning. Coins with preserved mint luster and attractive, natural toning tend to be worth more than those that show signs of wear or damage. Proof coins, being specially made for collectors, are generally more valuable than regular strikes, especially when in higher grades.
1893 No Mint mark Indian Head Penny Value
The Philadelphia Mint released a substantial mintage of 46,640,000 1893 Indian Head pennies, all without a mint mark. These coins are available in three main toning types: brown, red-brown, and red, with red being the most sought after by collectors.
Circulated brown pennies can typically be found for around $1.50, while those in About Uncirculated (AU) condition are valued at approximately $34. For higher grades such as MS 60 to MS 63, the price range falls between $57 and $115.
Brown pennies in better conditions, like those in AU 50, can fetch higher prices, with one example selling for $2,990 at a 2001 Bowers & Merena auction.
Red-brown pennies in MS 64 to MS 66 grades are valued between $325 and $1,800. The highest auction record within this range was set in 2018.
Red-toned pennies are typically the most expensive, with prices ranging from $265 to $2,500 for coins in MS 63 to MS 66 grades.
The most valuable examples are MS 67 graded coins, which can be worth between $20,000 and $25,000. However, an auction record from 2009 saw one such coin sell for $43,125—almost double the expected value.
1893 Indian Head Penny Value (proofs)
In addition to the regular 1893 Indian Head pennies, there are also proof versions minted in Philadelphia that are without a mint mark. Only 2,195 of these proof coins were produced, and only a few have survived until today.
The value of these proof pennies varies depending on their color and grade. Brown proofs are the least expensive, with prices ranging from about $140 for those graded PR 60, to nearly $1,300 for a PR 66-graded example.
The most coveted coins are those in the PR 67 grade, with prices estimated around $4,500. The auction record for a PR 66 brown penny from 1893 was set in 2006, where it sold for $6,325.
Red-brown proofs are rarer and more aesthetically appealing, making them more valuable. A PR 60 red-brown penny may cost around $160, while those in PR 66 grade can go for approximately $1,400. The highest-graded red-brown pennies, PR 67, are worth around $5,500, though one record-breaking example in 2023 sold for $2,400.
For red 1893 Indian Head penny proofs, prices start at:
- PR 60: $215
- PR 61: $235
- PR 62: $275
- PR 63: $375
- PR 64: $675
- PR 65: $1,300
- PR 66: $3,350
- PR 67: $13,500
The most expensive 1893 red proof penny sold at auction was a PR 67, which reached $12,650 in 2008.
Rare 1893 Indian Head Penny Errors List
The 1893 Indian Head cent has relatively few error coins compared to other years in the series. The Philadelphia Mint had a strong production year, which means fewer imperfections were introduced during the minting process. However, this scarcity of errors only makes the existing ones even more valuable and highly collectible for enthusiasts who specialize in minting flaws. These error coins stand out in collections, making them a sought-after rarity among collectors.
Re-punched date
During the late 19th century, the process of manually punching the date onto coins led to a common error known as re-punched dates. These types of errors were relatively frequent, and as a result, coins with re-punched dates have become highly sought after by collectors. The rarity and uniqueness of these imperfect specimens significantly boost their value.
One of the most expensive examples of this error is a red 1893 Indian cent in MS 64 grade, which sold for $1,200 on eBay in 2019. This coin serves as a prime example of how error coins can command serious prices in the marketplace, especially among collectors looking to add rare, unique pieces to their collections.
Struck-through error
Struck-through errors are not common but do occur occasionally when a foreign object, such as debris or dust, gets caught between the die and the planchet during the minting process. This results in an imprint on the surface of the coin, showing the outline of the object.
The impact of the foreign object on the coin’s appearance can vary greatly depending on its size. For instance, if the object is a tiny grain of dust, the imperfection may be microscopic and have little to no impact on the coin’s overall value. However, if the object is larger, it can significantly damage the design, making the coin appear defective.
Because of the unique nature of struck-through errors, the value of such coins is highly subjective. Each struck-through coin is different, and there is no standard for comparing them. As a result, estimating the value requires careful examination of the specific coin and its particular characteristics.
Misaligned strike
Misalignment die strikes occur when the dies used to stamp the design onto the planchet (coin blank) are not properly aligned. This results in a design that is slightly shifted on one side of the coin, creating a noticeable imperfection.
It is important not to confuse this with off-center errors. While both involve misalignment, an off-center error affects both the obverse and reverse sides of the coin, whereas a misaligned die strike typically only affects one side.
Coins with misaligned die strikes are relatively common and don’t typically carry a high premium. You can expect to pay around $10 for such a specimen, though the price can vary depending on factors such as the extent of the misalignment and the coin’s overall condition.
Where to Sell Your 1893 Indian Head Penny?
If you’re looking to sell your 1893 Indian Head penny, there are several reputable online platforms where you can list it for sale. Here’s a breakdown of some of the best places to sell coins, along with their pros and cons:
1. eBay
- Pros:
- Large, international audience
- User-friendly platform
- Auctions can drive prices up, especially for rare coins
- Cons:
- Fees can be high (around 10% of the sale price)
- Shipping and handling responsibilities
- Risk of counterfeit buyers
2. Heritage Auctions
- Pros:
- One of the most trusted auction houses for rare coins
- Known for high-value transactions
- Expert appraisal and grading available
- Cons:
- Commission fees can be steep (10%-20%)
- Auctions are scheduled, so you may have to wait for the next one
3. Stack’s Bowers
- Pros:
- Specializes in rare coins and high-end collectibles
- Trusted by numismatists and collectors
- Cons:
- Auction fees can be higher than other platforms
- You must meet their requirements for coin submissions
4. CoinAppraiser.com
- Pros:
- Easy-to-use platform for selling coins directly
- You can set your own price and negotiate with buyers
- Cons:
- Smaller audience compared to eBay or major auction houses
- Limited buyer exposure
5. Coin World Marketplace
- Pros:
- Coin-focused marketplace, ideal for collectors and investors
- Safe transactions and authentication processes
- Cons:
- May not have as large of an audience as auction houses or eBay
- Listing fees may apply
FAQ about the 1893 Indian Head Penny
What makes the 1893 Indian Head Penny rare?
Despite being still official currency in the US, the 1893 Indian Head pennies are considered rare due to the fact that only a few have survived in excellent condition, especially those in higher grades.
Which 1893 Indian Head Penny is worth a lot of money?
The highest value recorded for a 1893 Indian Head penny was for a red penny in MS 67 grade, which sold for $43,125 at Heritage Auctions in 2009.
How much is the 1893 Indian Head Penny (No Mint mark) worth?
The price for a 1893 penny varies significantly:
- Brown circulated pennies: $1.50 to $40
- Mint state (MS) pennies: $42 to $560
- Red-brown pennies: $100 to $1,500
- Red pennies in MS 67 grade: $20,000 to $25,000
What is the priciest Indian Head Penny?
The most expensive Indian Head penny ever sold was an error coin (with an “L” on the ribbon) minted in 1864, which fetched $161,000 at auction. The most expensive regular strike was a 1877 penny in MS 66 grade, which sold for $149,500 in 2007.
Selling your 1893 Indian Head penny through one of these platforms can help you get the best value for your coin, especially if you have a well-preserved specimen. Always consider getting your coin professionally appraised to ensure you’re asking for a fair price.
