1898 Indian Head Penny

In 1898, the US economy was stable and demand for coins was steady. This resulted in a fairly high mintage of the 1898 Indian Head Penny. As a result, it is estimated that the coin has a survival rate of around 4,000 with 30 of those being in top mint condition. Compared to some other years in the Indian Head series, this year isn’t as rare, but it is still a collectible coin that can be worth significant money.

1898 Indian Head Penny Design

The Indian Head penny is named for the bust of the Goddess Lady Liberty that adorns the face of the coin. She has flowing hair and is wearing an Indian Chief headdress, which is meant to pay homage to the indigenous people of America and the independent nature of this new country.

 

The reverse side of the coin features an oak wreath with a shield at the top. The wreath surrounds the words “One Cent.” Both sides of the coin have a ring of small diamonds that circle the perimeter although the actual edge of the coin is smooth. This classic design had been in circulation since 1859 without any major redesigns.

How Much is the 1898 Indian Head Penny Worth

The record auction price for a mint condition 1898 Indian Head penny is $1,495 at an event in 2007. A coin in average condition will go for around $3, while a version with a better rating can be expected to net about $60.  

Type of coin: One Cent

Year: 1898 Indian Head Penny

Mint Mark: Philadelphia

Total mintage: 49,821,000

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