The 1887 Indian Head Penny is a well-known coin among numismatists due to its historical significance and relative availability. However, because these coins were heavily circulated, finding them in pristine condition is quite rare. While lower-grade examples are common and affordable, high-grade, uncirculated coins command a premium price.
History and Background of the 1887 Indian Head Penny
Designed by James Barton Longacre, the Indian Head Penny was minted from 1859 to 1909. The 1887 edition is notable for its high mintage, but many examples have suffered extensive wear over time.
Collectors seek these coins as part of the broader Indian Head cent series, a staple in American numismatics.
Grading the 1887 Indian Head Penny
Since most surviving 1887 Indian Head Pennies exhibit significant wear, collectors rely on grading to assess a coin’s desirability and value. Below are the key grading categories:
Uncirculated (MS 60 – MS 70)
- Condition: No signs of wear; all details remain sharp.
- Value: $28+
Extremely Fine (EF 40 – EF 45)
- Condition: Slight signs of wear; fine details mostly intact.
- Value: $18
Fine (F 12 – F 15)
- Condition: Noticeable wear, but major design elements are still visible.
- Value: $5
Good (G 4 – G 6)
- Condition: Heavy wear; images and inscriptions are faint but still recognizable.
- Value: $3
Pricing Guide for the 1887 Indian Head Penny
| Date | Good (G 4 – G 6) | Fine (F 12 – F 15) | Extremely Fine (EF 40 – EF 45) | Uncirculated (MS 60 – MS 70) |
|---|---|---|---|---|
| 1887 | $3 | $5 | $18 | $28 |
Investment and Collectibility
The 1887 Indian Head Penny remains a popular and affordable choice for collectors, especially in lower grades. High-grade examples, however, can be significantly harder to find and command premium prices.
Factors That Influence Value
- Condition – Higher grades bring significantly higher value.
- Market Demand – The Indian Head series remains widely collected.
- Certified Coins – Coins graded by PCGS or NGC typically sell for higher prices.
The 1887 Indian Head Penny is a fantastic entry-level coin for collectors and a valuable addition for those completing an Indian Head cent collection. While lower-grade coins are common, high-grade examples remain elusive and highly desirable.
