In 1893, there was an economic panic and people withdrew their money from the bank. More coins ended up in private hands, which created a surplus. That is why you see such a steep decline in mintage numbers for the 1894 Indian Head Cent. While this coin was struck in lower numbers than others in the series, it still isn’t considered a significant date. That being said, collectors are eager to obtain one to complete their series.
Versions of the 1894 Indian Head Penny
With the 1894 Indian Head One Cent, there are two versions to be aware of. There is the regular version and one known as the “overdate” version. The latter version has a strike error so that the 94 in the year appears to have been double punched. As you might imagine, the overdate version is worth about five times as the more pristine strike.
Besides the date anomaly with the 1894 Indian Head One Cent, the design is basically the same as it had been since this penny was first introduced in 1859. Over there years, there were slight changes to the bust and the laurel wreath was replaced with an oak wreath, but the coin continued to feature a profile of the Goddess Lady liberty wearing an Indian headdress and the wreath and shield on the reverse side.
1894 Indian Head Value
A regular 1894 Indian Head Cent is worth about $5. However, if you are able to find an overdate version, this penny will fetch around $25. Mint condition coins are typically worth just over $150.
Type of coin: One Cent
Year: 1894 Indian Head Penny
Mint Mark: Philadelphia
Total mintage: 16,749,500
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