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The Indian Head cent is the most popular small cents coin among numismatists, next to the popular Lincoln penny. Like its Lincoln counterpart, Indian Head pennies contain no precious metal like silver or gold, therefore their value is derived from the demands of coin collectors. Because many people collect these coins, the market is quite active, and most dealers will pay a high price for quality Indian Head coins depending on their year of issue and condition. Another fun fact about the Indian Head cent is that from 1859-1864, the coin contained 88 parts copper to 12 parts nickel, which gave it a light or white color, giving this coin and coins with similar compositions the nickname “white cents.”
In 1859, the Indian Head cent coin replaced the Flying Eagle cent and, when it was introduced, had a composition of 88 parts copper and 12 parts nickel which was changed in 1864. That year both the metal and composition reduced the weight of the coin and was reverted to a traditionally bronze color with a nearly pure copper alloy, which was all partly in response to war related hoarding.. Indian Head pennies with either the laurel wreath reverse or oak wreath with shield reverse were produced continuously through early 1909 when it was replaced with the Lincoln Wheat Penny.
James B. Longacre was the designer of both the obverse and the reverse of this classic American coin. The obverse design is actually Lady Liberty with an Indian chief’s headdress rather than an actual Native American, as one might assume. In 1860, the wreath on the reverse was altered, and a small shield was added to the top above the words “ONE CENT.” An interesting fact is that in autumn of 1864, a tiny “L” for the coin’s designer Longacre was added to the ribbon on Miss Liberty’s bonnet. inscription.
Indian Head cents were produced at two different mints: the Philadelphia Mint (which contains no mint mark) and the San Francisco Mint (S), which only minted Indian Head pennies in 1908 and 1909. The mint mark for these Indian Head coins is located on the reverse just below the wreath.
All circulated prices and values are under the assumption that the date is readable and not worn from the coin’s face. Even though the uncirculated Indian Head specimens that exhibit their original red-brown color are worth significantly more, the actual offer collectors can expect from a particular coin dealer varies depending on a number of factors, including the actual grade of the coin.
There are a number of different ways collectors may choose to begin their Indian Head penny collection, but many coin collectors specializing in collecting Indian Head pennies actively seek out key dates and varieties.
The most valuable Indian Head penny ever sold is an 1864 and was given a PR65 rating by the Professional Coin Grading Service (PCGS).
The key dates for Indian Head cents are as follows:
1864 Indian Head Cent Copper: Nickel vs. Bronze
1864 Indian Head Penny: No "L" on Ribbon vs. “L” on Ribbon
1869 Indian Head Penny: 69 Over 69 Variety
1873 Indian Head Penny: Open 3 Variety
1873 Indian Head Penny: Closed 3 Variety
1873 Indian Head Penny: Doubled Liberty Variety
1877 Indian Head Penny: Key Date
1888 Indian Head Penny: Last 8 Over 7 Variety
1909-S Indian Head Penny: Key Date
The condition and numismatic grading of a coin are major factors in determining the value of a coin, usually even if the coin is from a rare year or a unique variety. With that being said, coin grading is not an exact science and is rather the expression of an opinion that describes the condition of a specific coin that most dealers and collectors would agree with.
Below are the following grades Indian Head pennies can receive:
About Good-3 (AG3 or AG-3)
Good-4 (G4 or G-4)
Very Good-8 (VG8 or VG-8)
Fine-12 (F12 or F-12)
Very Fine-20 (VF20 or VF-20)
Extra Fine-40 (EF40, XF40 EF-40 or XF-40)
About Uncirculated-55 (AU55 or AU-55)
Mint State-63 (MS63 or MS-63)
Mint State-65 (MS65 or MS-65)
Mint State-67 (MS67 or MS-67)
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