While you might assume that older pennies are more valuable than later strikes, the 1871 Indian Head Penny is actually one of the rarest and most valuable one cent coins in the history of US currency. The very first Indian Head Penny was minted in 1859 and over 35 million were struck. In 1871, less than 4 million one cent coins were produced, which means that there are few still on the market today. It is even more rare to find one that is in good condition or was never circulated.
The Indian Head Penny was designed by James Barton Longacre who wanted to create a coin that reflected the American spirit and cut ties with traditional European symbols. He saw the combination of the goddess Liberty Indian chief headdress as the perfect representation of the early years of the nation. The coin also includes a plain edge and the reverse side features an oak wreath with a shield at the top. The words “One Cent” are written in all caps and sit in the middle of the wreath.
Value of an 1871 Indian Head Penny
With the 1871 Indian Head Penny, there are both a shallow and a bold strike, which can affect the final price. A shallow stroke coin in good condition is worth around $130 and a rare, uncirculated version can go for $650. The bold strike version is worth $70 in good condition and an uncirculated coin is valued at $525.
Type of coin: Penny
Year: 1871
Mint Mark: Philadelphia
Total mintage: 3,929,500
Metal content: 95% Copper, 5% Tin and Zinc
Face value: One Cent
Weight: 3.11 grams
Edge: Plain
Designer: James Barton Longacre
Diameter: 19 millimeters