Guide To Collecting The Indian Head Penny
The Indian Head Penny was first minted in 1859 and the series continued until 1909. The coin was originally designed by mint engraver James Longacre. Longacre was very meticulous when he designed the Indian Head Cent. The obverse design featured lady liberty with a Indian headdress while the reverse of the coin featured a wreath with the words "one cent" within the wreath. Originally, rumor was that James Longacre got his inspiration for the Indian Head Penny one day while his daughter visited the mint facility. She happened to come the day that a group of Native Americans were visiting the facility as well. During their visit one Native American put their headdress down and Longacre's daughter picked it up and placed it on her head. When Longacre saw this, he immediately sketched his daughter in the headdress. From there he would use that sketch while making the Indian Head Penny design. However, Longacre publicly denounced this theory and said that his true inspiration for the Indian Head Penny was a statute of Venus. The statute of Venus was on display in Philadelphia and was on loan at the time from the Vatican.
Coin Specifications
The Indian Head Penny's specifications changed once throughout its entire mintage. Originally the 1859 Indian Head Penny weighed 4.67 grams, had a diameter of 19mm, featured a plain edge, and was composed of 88% copper and 12% nickel. Thereafter, starting with the 1860 Indian Head Penny, the coin weighed 3.11 grams, had a diameter of 19mm, and also featured a plain edge. The Indian Head Penny always had a denomination of one cent and was produced at the San Fransisco and Philadelphia. The Indian Head Pennies that were minted at the Philadelphia mint carry no mint mark while the coins minted in San Fransisco do. When a mint mark exists on the coin it is located beneath the wreath on the reverse of the coin.
Design Changes Throughout the Years
Over the years the Indian Head Penny had only one major design change, all others were minor varieties. The 1859 Indian Head Penny featured a wreath on the reverse of the coin that surrounded the words "one cent". Nothing else was present on the reverse of the coin. After 1859, starting with the 1860 Indian Head Penny, the reverse of the coin featured a different style wreath, with arrows in the wreath as well as a shield located above the wreath.
Indian Head Penny Key Dates
There are a few key date coins in the Indian Head Cent series. The most rare are the following:
1888/7 Indian Head Penny - Estimated only 500-600 in existence. Valued at north of $95,000 in PCGS MS63
1873 Double Liberty Indian Head Penny
1877 Indian Head Penny
How Much Is a Indian Head Penny Worth?
The Indian Head Penny value is determined by multiple factors which include the year, the mint mark, the mintage, and the overall condition of the coin. Another factor that also can play a role in how much a Indian Head Penny is worth is just how many of the original mintage have survived in higher quality. Indian Head Pennies can range from literally pennies to over $100,000 for some key date coins.
What are the most searched for Indian Head Pennies?