Indian Head Pennies Worth Money

Digital credit and debit card transactions and the rise of digital currency have made pocket change a thing of the past. However, if you have jars of coins tucked away in your closet or are a coin collector or investor, you might be interested in Indian head pennies worth money.

Yes, the lowly U.S. penny continues to rear its head – the Indian head, in this case – popular among coin collectors. Indian head pennies can fetch anywhere from a few dollars up to several thousand.

Here’s a look at Indian head pennies, which are worth money, how they became so valuable and notable coins worth pursuing.

History of the Indian Head Penny

First struck in 1859, coin collectors consider the Indian head penny the most beautiful of America’s copper coins. Among rare coins, the Indian head cent holds significant historical value and witnessed some of America’s most momentous history: the westward expansion, the Civil War and Reconstruction.

The first official penny released by the newly established U.S. Mint in 1793 featured a version of Lady Liberty on the obverse (head side).

It was a large coin and its design lasted until 1857. The U.S. cent shrank that year and the metal composition changed to 88% copper and 12% nickel. The new design featured a flying eagle on the obverse and a wreath on the reverse.

Two years later, in 1859, mint engraver James Barton Longacre, who designed the flying eagle, redesigned the penny to feature the Indian head, which depicts a woman in a Native American headdress.

The Indian head penny was minted continually from 1859 until 1909 when it was replaced by valuable Lincoln pennies, the first coins to feature the bust of a U.S. president.

Design of the Indian Head Penny

Like other coin designs throughout history, Longacre’s Indian head penny stirred controversy.

The woman wearing the Indian headdress on the coin was intended to be Lady Liberty. Many people were outraged by the notion of a Caucasian woman donning the headdress of the American Indians. The masses called for a change and it came – to the reverse of the Indian head penny.

After just one year in circulation, the laurel wreath on the reverse was changed to an oak wreath and the presidential seal was added in 1860.

What Makes the Indian Head Penny Valuable?

The Indian head cent is among the most valuable pennies because of its numismatic value, not its intrinsic value. The coins contain no precious metals, but they’re rare, historically significant and the intricacy of their designs makes these rare pennies among the most attractive U.S. coins to collectors.

Indian head pennies are over 100 years old. The age of the coins alone makes them worth more than their face value in nearly any condition. Those in mint condition can command thousands of dollars.

Indian head pennies remain popular among collectors. Those minted before and during the Civil War are in high demand and draw higher prices at auction.

5 Rare Indian Head Pennies Worth Money

Collectors can identify the value of old pennies by year. With that in mind, here are five rare Indian head pennies worth money from various periods:

1. 1877 Indian Head Penny

The 1877 Indian head penny is highly sought after due to its age and rarity. Just 852,000 coins were struck at the Philadelphia Mint that year, the second-lowest minting of an Indian head penny. In good condition, the 1877 Indian head can go for $900. The highest amount paid at auction was $149,000 on Aug. 9, 2007.

2. 1873 Indian Head Penny

Collectors pursued the 1873 Indian head penny because it was first produced with 95% copper and 5% tin & zinc and minted in Philadelphia.

The coin's value comes from its low rate of survival after being widely circulated. Few of the coins exist, making them exceedingly rare. Most 1873 Indian heads that survived are in poor condition but are a hot target for collectors.

3. 1900 Indian Head Penny

The 1900 Indian head penny can be hard to obtain because it is in the Indian head series. Collectors hunted for it because it was the first Indian head of the new century. Minted in Philadelphia without a mint mark, as was the practice then, the 1900 Indian head penny is more than 120 years old, adding to its attractiveness to numismatists.

4. 1899 Indian Head Penny

The 1899 Indian head penny is valuable primarily due to its mintage. The Philadelphia Mint churned out 53,598,000 of the coins. Finding one in pristine condition is rare, making those with red-penny value expensive for collectors. In August 2019, a red 1899 Indian head penny rated MS68 sold for $108,000.

5. 1872 Indian Head Penny

To non-collectors, the 1872 version of the Indian head penny appears like any other. However, collectors recognize its value because of its low mintage.

In the early 1870s, the U.S. Mint decided to recoin (meltdown and remint) old Indian head pennies, leading to uneven alloy compositions rather than the 95% copper and 5% tin & zinc mix. This decision led to low mintages, especially the one pressed in 1877.

The 1872 Indian head penny is the second hardest to obtain behind the 1877 and finding one in decent condition is even more difficult. In 2007, one of only two 1872 Indian head pennies rated MS66 sold for $126,500 at auction.

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Find an Indian Head Penny to Enhance Your Collection

Besides being considered one of the best-looking American copper coins, the Indian head penny is rich in history and controversy, making it one of the most desirable coins for numismatists to add to their collections.

Many Indian head pennies in poor condition might be worth a few dollars. You never know when you might run across the rarest penny to add to your collection or start a coveted collection.

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