The 1860 Indian Head Penny is a classic example of U.S. coinage, valued by collectors for its historical significance and design changes. Here’s what you need to know about these one-cent coins:
Specifications:
- Type: Indian Head Penny
- Year: 1860
- Face Value: $0.01
- Composition: 88% copper, 12% nickel
- Weight: 4.67 grams
- Mint Location: Philadelphia (No Mint Mark)
Mintage Details:
- 1860 Indian Head Penny: 20,566,000 minted
- 1860 Proof Indian Head Penny: 1,000 minted (rarer and more valuable)
Value of 1860 Indian Head Penny
The value of the 1860 Indian Head penny depends largely on its condition and whether it features the pointed bust variety.
For Regular Coins:
- Good Condition: ~$15
- Very Fine Condition: ~$45
- Extremely Fine Condition: ~$80
- MS 60 (Uncirculated): ~$200
- MS 63 (Uncirculated): ~$365
For Proof Coins:
- PR 63 (Proof Condition): ~$800
Pointed Bust Coins
In 1860, the design of the Indian Head penny underwent a slight modification. The bust of Liberty on the obverse (front) was changed from pointed to rounded. Some coins from this year were minted with the older pointed bust design, making them more valuable.
Value for Pointed Bust Coins:
- Good Condition: ~$25
- Very Fine Condition: ~$65
- Extremely Fine Condition: ~$110
- MS 60 (Uncirculated): ~$325
- MS 63 (Uncirculated): ~$650
Grading System
The value of your 1860 Indian Head penny also depends on its grade. Here’s a breakdown of common grading terms:
- Good: The word “LIBERTY” on Liberty’s headband is not visible due to wear.
- Very Fine: “LIBERTY” is visible but slightly worn.
- Extremely Fine: “LIBERTY” is sharp, and other details are clear. Slight wear on the ribbon.
- MS 60 (Uncirculated): No wear, though there may be minor surface marks or abrasions.
- MS 63 (Choice Uncirculated): Some blemishes or marks in the focal areas, but still a high-quality coin.
- PR 63 (Proof): Reflective surfaces with only minor blemishes away from the major focal points.
The 1860 Indian Head Penny is a desirable coin among collectors, especially those in higher grades or featuring the pointed bust. With millions minted and a relatively small number of proof coins produced, this penny holds its value well, particularly in good or uncirculated condition. Whether you own a regular or pointed bust variety, it’s a great addition to any collection.
