When Christopher Columbus first arrived in the Caribbean islands, he mistakenly believed they were part of an unknown region of India, calling them the West Indies. Later, when he reached North America, he assumed its inhabitants were a variation of ‘Red Indians,’ a term that is now considered derogatory. However, Indian Head pennies were designed to honor them. Now, let’s explore the most valuable ones.
Rare Indian Head Penny Worth Money List
| Indian Head Penny Year | Indian Head Penny Errors Type | Indian Head Penny Value |
|---|---|---|
| 1859 | Re-Punched Date Indian Head Penny | $6,600 |
| 1860 | proof Indian Head Penny | $650 |
| 1861 | proof Indian Head Penny | $850 |
| 1862 | Uncirculated Indian Head Penny | $75 |
| 1863 | Die Cap Indian Head Penny | $18,000 |
| 1864 | L Indian Head Penny | $375 |
| 1865 | Uncirculated Indian Head Penny | $65 |
| 1866 | Uncirculated Indian Head Penny | $250 |
| 1867 | Uncirculated Indian Head Penny | $275 |
| 1868 | Uncirculated Indian Head Penny | $220 |
| 1869 | Uncirculated Indian Head Penny | $550 |
| 1870 | Shallow N Indian Head Penny | $500 |
| 1871 | Shallow N Indian Head Penny | $650 |
| 1872 | Shallow N Indian Head Penny | $700 |
| 1873 | Closed 3 Indian Head Penny | $235 |
| 1874 | Uncirculated Indian Head Penny | $150 |
| 1875 | Uncirculated Indian Head Penny | $160 |
| 1876 | Uncirculated Indian Head Penny | $240 |
| 1877 | Strike-Through Indian Head Penny | $2,000 |
| 1878 | Uncirculated Indian Head Penny | $275 |
| 1879 | Uncirculated Indian Head Penny | $80 |
| 1880 | Uncirculated Indian Head Penny | $60 |
| 1881 | Uncirculated Indian Head Penny | $35 |
| 1882 | Uncirculated Indian Head Penny | $35 |
| 1883 | Uncirculated Indian Head Penny | $35 |
| 1884 | Uncirculated Indian Head Penny | $40 |
| 1885 | Uncirculated Indian Head Penny | $80 |
| 1886 | Type II Indian Head Penny | $220 |
| 1887 | Uncirculated Indian Head Penny | $28 |
| 1888 | Indian Penny 8/7 Overdate – FS-301 | $72,000 |
| 1889 | Misaligned Die Clash Indian Head Penny | $423 |
| 1890 | Double Strike Indian Head Penny | $2,000 |
| 1891 | Uncirculated Indian Head Penny | $30 |
| 1892 | Uncirculated Indian Head Penny | $30 |
| 1893 | Re-Punched Date Indian Head Penny | $1,200 |
| 1894 | Uncirculated Indian Head Penny | $70 |
| 1895 | Uncirculated Indian Head Penny | $25 |
| 1896 | proof Indian head penny | $12,000 |
| 1897 | Repunched Date Indian head penny | $30,000 |
| 1898 | Struck Off-Center Indian head penny | $1,500 |
| 1899 | Reverse Cud Indian Head Penny | $150 |
| 1900 | No Mint Mark Indian Head Penny, Repunched Date | $450 |
| 1901 | Double Struck Off-Center Indian Head Penny | $745 |
| 1902 | Off-Center Indian Head Penny | $800 |
| 1903 | RPD Indian Head Penny FS-303 And FS-304 | $1,425 |
| 1904 | Re-Punched Date Indian Head Penny | $550 |
| 1905 | Re-Punched Date Indian Head Penny | $396 |
| 1906 | Double Strike Flip-Over Indian Head Penny | $600 |
| 1907 | Misplaced Date Indian Head Penny | $250 |
| 1908 | Struck 20% Off-Center Indian Head Penny | $400 |
| 1909 | S Indian head penny | $97,750 |
Most Valuable Indian Head Penny Worth Money
1. 1909-S Indian Head Penny Regular Strike
As we explore some of the most valuable Indian Head pennies, we’ll focus on verified sales. However, remember that coin prices fluctuate based on rarity, demand, and timing. Selling a coin during a historical milestone or anniversary year can significantly increase its value.
- Year: 1909
- Mint Mark: San Francisco
- Grade: MS 67 RD
- Date of Sale: January 5, 2006
- Price: $97,750
To better understand the value of each coin, we’ll delve into the history of the Indian Head Penny and key details about it. This includes its designer, metal composition, origin, minting location, and some interesting trivia about American currency. Enjoy!
2. 1899 Indian Head Penny Regular Strike
Let’s begin with a basic introduction to coin mintage. The study of coins, tokens, and medals is called numismatics, and those who specialize in this field are known as numismatists. In their terminology, the front or heads side of a coin is called the obverse, while the tails side is known as the reverse. The thinnest part of the coin is referred to as the edge.
- Year: 1899
- Mint Mark: None (Philadelphia)
- Grade: MS 68 RD
- Date of Sale: August 18, 2019
- Price: $108,000
During the coin-making process, a metal sheet is passed through a blanking machine, which punches out circular discs known as planchets. The edges of a coin may sometimes have ridges, called rims or collars. If a coin lacks these ridges, its edge is considered smooth or plain. Some coins even combine both styles for a unique design.
3. 1900 Indian Head Penny Regular Strike
Coins often feature inscriptions that are legally mandated, such as the name of the issuing country, a national motto, or the title of the person depicted. These inscriptions are known as legends or mottos. Typically, they are embossed on the obverse or reverse of the coin, but in some cases, they may also appear along the edge.
- Year: 1900
- Mint Mark: None (Philadelphia)
- Grade: MS 67+ RD
- Date of Sale: February 25, 2021
- Price: $28,200
When inscriptions are placed on the coin’s edge, this is known as edge lettering or an edge inscription. This process is carried out using a Schuler Edge Incusion Machine. Historically, edge lettering was primarily used on gold and silver coins, also known as specie metals, as an anti-counterfeiting measure—something we’ll explore further.
4. 1905 Indian Head Penny Proof
In the early days, a coin’s value was directly tied to its physical weight and melt value. This meant that a $1 gold coin had to contain $1 worth of gold when melted. However, some individuals would shave the edges of coins, making them slightly smaller and lighter, thereby reducing their value and deceiving those who received them.
- Year: 1905
- Mint Mark: None (Philadelphia)
- Grade: PR 67 CAM
- Date of Sale: July 31, 2009
- Price: $23,000
To counteract this practice, the U.S. Mint introduced edge lettering. If someone attempted to shave the coin, the missing letters would be an obvious sign of tampering. Over time, as coins transitioned to base metals rather than precious ones, this anti-counterfeiting measure became unnecessary and was eventually phased out.
5. 1859 Indian Head Penny Regular Strike
Let’s take a closer look at the Indian Head Penny. Interestingly, it doesn’t actually depict a Native American! Instead, the design features a lady wearing the traditional headdress of an Indian Chief. At the time, American coins did not display the likeness of presidents, as the Founding Fathers opposed the idea.
- Year: 1859
- Mint Mark: None (Philadelphia)
- Grade: MS 66+
- Date of Sale: February 2, 2012
- Price: $34,500
During this period, coins from other nations commonly featured monarchs like kings and queens. However, early American leaders—especially George Washington and Benjamin Franklin—believed this practice was too monarchical and went against democratic values. As a result, they rejected the idea, and no U.S. president was featured on a coin during their lifetimes.
6. 1872 Indian Head Penny Regular Strike
Instead of featuring presidents, the Founding Fathers advocated for a portrait symbolizing Lady Liberty, much like the figure seen on the Statue of Liberty. These depictions were often inspired by ancient goddess statues, serving as a representation of freedom and democracy. Over time, however, the models for Lady Liberty were based on real American women who were well-known during their era.
- Year: 1872
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $126,500
This was the case with the Indian Head Penny, which is believed to have been inspired by Sarah, the daughter of the Chief Mint Engraver at the time. According to legend, she was just 12 years old when her father sketched her likeness for the coin. However, both she and her father later denied the story, leaving it as an enduring mystery in numismatic history.
7. 1864 Indian Head Penny L on Ribbon Proof
It’s a charming tale, with some claiming that Sarah once visited her father’s office while Native American leaders were present and playfully tried on one of their headdresses. However, this story doesn’t hold up, as Sarah was already 30 years old, married, and had children by the time the coin was designed.
- Year: 1864
- Mint Mark: None (Philadelphia)
- Grade: PR 65 CAM
- Date of Sale: April 27, 2016
- Price: $152,750
When asked about his inspiration for the coin, James B. Longacre, the Chief Mint Engraver, explained that he based the design on Crouching Venus, an Italian statue owned by the Vatican that was being exhibited in Philadelphia at the time. However, some of Sarah’s facial features may have unintentionally made their way into the final portrait.
8. 1877 Indian Head Penny Regular Strike
The Indian Head Penny featured a youthful depiction of Lady Liberty, adorned with a string of pearls around her neck and a Native American headdress. This feathered tiara, often referred to as a “feathered crown,” was typically worn by male chiefs and elders, making it a masculine symbol in its design.
- Year: 1877
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $149,500
In accordance with the constitutional requirements for U.S. coinage, the obverse featured the words United States of America along the sides, with the mint date at the bottom. The word Liberty was inscribed along the headband of the tiara. Some coins also included the letter L, representing Longacre, subtly hidden in the lower locks of her hair.
9. 1908-S Indian Head Penny Regular Strike
In 1858, the reverse side of the Indian Head Penny featured a laurel wreath adorned with berries and tied with a ribbon at the bottom. In the center of the wreath was the coin’s denomination, One Cent. The term “penny” was carried over from British terminology, as Americans began using it instead of the official denomination.
- Year: 1908
- Mint Mark: San Francisco
- Grade: MS 67 RD
- Date of Sale: January 24, 2021
- Price: $21,600
In 1859, the reverse design of the coin was updated. The laurel wreath was replaced with an oak wreath, and a shield was added between the upper tips of the oak branches. At the bottom of the design, three arrows were tied into the ribbon that connected the laurel sprigs to the base of the lower oak branches, adding a new, symbolic element to the coin’s appearance.
10. 1888 Indian Head Penny Regular Strike
To clarify, before 1971, one British penny was 1/240th of a pound sterling, and its plural form was pence. As a former British colony, the United States originally used British currency. However, when the U.S. started minting its own currency, we adopted dollars and cents, where 100 cents equaled $1.
- Year: 1888
- Mint Mark: None (San Francisco)
- Grade: MS 67 RD
- Date of Sale: January 7, 2008
- Price: $63,250
In 1971, the UK switched to the decimal system, where 100 pence equaled £1. Despite this change, we still call our 1-cent coin a penny instead of its proper name, One Cent, which is inscribed on the reverse side of the coin. Old habits die hard! While a penny may not be worth much today, it remains a symbol we’re quite attached to.
11. 1870 Indian Head Penny Regular Strike
Several times, Congress has proposed bills and engaged in debates about phasing out the penny, arguing that it no longer holds significant value and is no longer cost-effective. However, despite these efforts, the penny has managed to survive all attempts to eliminate it. On the other hand, older coins like the Indian Head Penny still command impressive prices in the secondary market.
- Year: 1870
- Mint Mark: None (Philadelphia)
- Grade: MS 66+ RD
- Date of Sale: March 26, 2020
- Price: $25,850
The Indian Head Penny was the second series of small cents. To provide some context, the earliest 1-cent coins were 28.57mm in diameter (about 1 and 1/8 inch). These early coins were primarily made of copper, and as metal prices increased, their melt value surpassed their face value. This caused people to hoard the coins, anticipating a potential increase in their worth.
12. 1869 Indian Head Penny Regular Strike
If people melted down the coin, the copper content would be worth more than its face value of 1 cent, so many preferred to sell the molten copper. In response, the U.S. Mint reduced the size of the coin to 19.05mm, ensuring that the copper content aligned more closely with its face value. Additionally, they began incorporating other base metals to reduce the amount of copper needed for minting.
- Year: 1869
- Mint Mark: None (Philadelphia)
- Grade: MS 66+ RD
- Date of Sale: August 18, 2019
- Price: $84,000
From 1859 to 1864, the Indian Head Penny contained 12% nickel, and from 1864 to 1909, it had a mixture of 5% tin and zinc. As a result, the coin’s appearance changed over time, with varying shades of red as it aged. Because of this, Indian Head Pennies were graded as R (red), RB (red-brown), or B (brown), depending on their color and condition.
13. 1873 Indian Head Penny Open 3 Regular Strike
Curiously, it was the 1850s Gold Rush that caused a surge in the price of copper. Before this period, gold was rare, making gold coins highly prized, while copper coins held much less value. However, once gold became more abundant during the Gold Rush, its melt value decreased, meaning you could buy less copper for the same amount of gold.
- Year: 1873
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $54,625
Eventually, the United States abandoned the gold standard, causing copper prices to decrease. A similar cycle occurred with silver, leading to the discontinuation of silver in coins as well. Today, American coins are made from a mix of copper, nickel, and sometimes zinc, with the top layer of metal determining the coin’s color. This shift has made coins more affordable to produce, reflecting changes in both material costs and economic standards over time.
14. 1871 Indian Head Penny Regular Strike
In another interesting twist, a hoarding problem led to the switch from nickel to bronze in 1864. During the Civil War, nickel was an essential metal for military purposes, causing people to begin hoarding the 12% nickel pennies, which came to be known as White Cents.
- Year: 1871
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: January 5, 2006
- Price: $60,375
The nickname White Cents came from the whitish appearance of the coins due to their nickel content, and they were sometimes also referred to as Nicks. Additionally, for a long period, pennies were the U.S. Mint’s most profitable coin. The low cost of base metals allowed for a large difference between the production cost and the face value, a concept known as seigniorage.
15. 1894 Indian Head Penny Proof CAC
Indian Head Pennies were minted in both Philadelphia and San Francisco. Coins minted in Philadelphia did not have a mint mark, while San Francisco coins (from 1908 and 1909) featured an S mint mark on the reverse side of the coin, placed directly below the ribbon that tied the arrows in the wreath.
- Year: 1894
- Mint Mark: None (Philadelphia)
- Grade: PR 66 CAM CAC
- Date of Sale: September 1, 2013
- Price: $18,800
The coin had a plain edge without reeds, but it featured denticles along its obverse and reverse surfaces. The Indian Head Penny was minted until 1909 when it was replaced by the Lincoln Penny. This new coin was issued to commemorate the 100th anniversary of Abraham Lincoln’s birth, and it remains the 1-cent coin used in the United States today.
16. 1897 Indian Head Penny Proof
We began this article with a reference to Christopher Columbus, but here’s an interesting twist: Longacre, the Chief Mint Engraver who designed the Indian Head Penny, almost used Columbus as the figure for the coin. His boss, Mint Director James Snowden, thought it was a great idea, but Longacre ultimately rejected it.
- Year: 1897
- Mint Mark: None (Philadelphia)
- Grade: PR 67+ DCAM
- Date of Sale: March 31, 2021
- Price: $108,000
Longacre realized, correctly, that the public would likely reject a coin featuring Columbus. Given the controversial sentiment toward Native Americans at the time, placing an “Indian Tiara” on an American girl was seen as a more acceptable compromise. This design was viewed as a thoughtful solution, helping to ease public concerns while still embodying the spirit of American heritage.
17. 1882 Indian Head Penny Regular Strike
While all Indian Head Cents had the same diameter, their weight varied depending on the metal content. The White Nicks, which contained 12% nickel, weighed 4.67g, while the later bronze pennies, made with 5% tin and zinc, weighed 3.11g. In contrast, today’s Lincoln Pennies, which are made of 97.5% zinc and 2.5% copper plating, weigh only 2.5g.
- Year: 1882
- Mint Mark: None (Philadelphia)
- Grade: MS 67 RD
- Date of Sale: July 28, 2005
- Price: $35,938
Even though today’s pennies contain very little copper and are 97.5% zinc, the metal’s melt value has disrupted seignorage. In 2023, it cost 2 cents to mint a 1-cent coin, resulting in a 200% loss. However, despite the rising production costs, the penny continues to be minted out of sentimental value, now referred to as the Shield Cent.
