The Indian Head penny is one of the most remarkable coin series ever produced, with popularity that spans the globe. A 1906 Indian Head penny is unique because it marks a period of change and transition for the U.S. Mint, but also because of its universal appeal. By this point in time, the U.S. Mint had revolutionized the mass-production of coins, making the Indian Head penny more accessible than ever.
Changes in Minting Practices
Due to the Act of April 24, 1906, Congress allowed for metal coins to be struck at any minting location in the United States, and the appropriations for coin minting were raised from $50,000 to $200,000. This would be well over five million dollars in today’s money. Due to strong demand and vast funding for small coins, there’s no surprise that the mintage for the 1906 Indian Head penny reached ninety-six million coins.
1906 Indian Head Penny Values
Due to the high mintage of the 1906 Indian Head penny, the average value for this coin is only a few dollars. It is important to note that with any coin surviving for over a century, it’s value is tied directly to the condition and luster of the coin. For example, a 1906 Indian Head penny in excellent or mint condition can go for as much as forty dollars.
Type of coin: Penny
Year: 1906
Mint Mark: No mint mark
Total mintage: 96,020,000
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