The 1887 Indian Head Penny reflects a time in American history when the one cent coin was in high demand and widely used in circulation.The deficits of the Civil War were decades in the past, the economy was recovering and a standard US currency was accepted. In addition, the three-cent nickel and the penny were the only coins under five cents. Once the Post Office reduced the cost of stamps to two cents, the three-cent nickel went out of favor and more people wanted one cent coins.
As a result of all these circumstances, the 1887 Indian Head Penny was minted in relatively high numbers. Otherwise, the 1887 Indian Head Penny varied little from previous years. The one cent coin features the now familiar female profile wearing an Indian Chief headdress. On the reverse side of the coin is an oak wreath with a shield and the words “One Cent.”
1887 Indian Head Penny Value
While the 1887 Indian Head Penny mintage is over 45 million, survival estimates are low. In total, approximately 3,000 of the coins are thought to still be available while just 10 of these may qualify for the highest grade designation.
An 1887 Indian Head One cent coin in average condition usually goes for around $3. Coins that are certified as mint condition may go for up to $100. However, the auction record for the coin is $2,450 for a sale that occurred on February 2nd, 2020.
Type of coin: One Cent
Year: 1887 Indian Head Penny
Mint Mark: Philadelphia
Total mintage: 45,223,523
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