If collecting rare coins is your forte, or if you stumbled upon a penny with the year 1888 (you are one lucky person!), this article is for you! Let’s unfold the truths, designs, and values of the Indian Head Penny.
The Indian Head Penny value can range from $3 to $72,000 based on the condition, mintmark, and error list. Apart from its value, this penny also holds significant historical and artistic significance in the coin market today!
Here’s all about the 1888 Indian Head Penny!
The history of the 1888 Indian head penny is a roller coaster ride in itself. It was the second small penny design introduced after 1856 when the size of the pennies was reduced to compensate for increasing copper prices.
The US Mint’s engraver, James Barton Longacre, is the man behind the art! The what-today-would-be-called Native American head design was proposed using Indigenous Americans as his subject. However, using the Phrygian cap on a native Indian head couldn’t display the idea of the true American spirit and roots.
Thus, he sculpted Lady Liberty wearing pearls, a Liberty headband, and a Native American Chief’s headdress. This is how the Indian Head penny’s iconic design came into existence.
The obverse of the 1888 Indian Head Penny displays Lady Liberty in pearls, wearing a headband and a male Native American headdress or tiara. The headband is engraved with “LIBERTY,” depicting the country’s importance towards freedom. The inscriptions are “UNITED STATES OF AMERICA. 1888.”
The reverse side of the penny includes the iconic and historical but simplistic design. Two oak wreaths are displayed on either side, with the ends tied together with a ribbon, symbolizing eternity. The center depicts “ONE CENT” inscribed as the denomination. Lastly, the top of the design displays a shield with two sections further divided into 13 parts representing the 13 colonies that formed the United States of America.
| Metal Composition | 95% Copper and 5% Tin, Zinc, or both |
| Face Value | $0.01 |
| Dimensions | 19.05 mm x 1.52 mm |
| Weight | 3.11g or 48 grains |
| Colorations | BN or BRN for brown, RD for red-brown, or RD for red |
| Edge | Plain or Smooth |
The 1888 Indian Head Penny was struck at only the Philadelphia facility of the US Mint. A total of 37,489,832 pennies were struck that lacked the mintmark. All of these issues were meant for circulation and everyday transactions. Due to their comparatively low mintage and age, these pennies are rather valuable.
In 2019, a damaged XF-conditioned variant of the penny sold for $932 on eBay. Later, a BU coin of about MS65 BN grade was sold in 1999 at $4,600. These prices are derived from its condition, but the coloration of the penny is also significantly impactful. A red coin will be more valuable than its brown siblings, which could take values from $125 to $2,250, from brown to reddish-brown to pure red.
The Philadelphia Mint also produced proof versions of the 1888 Indian Head Penny with a mirror-like or sometimes matte finish. The mint produced 4,582 coins for collectors and enthusiasts only. Though the proof versions have less mintage than regular coins, they have less value.
When it comes to grading the proof coins, they are graded in “PR.” In 2025, 1888 Indian Head pennies with PR 67 BN grades are worth around $2,650. Similarly, the PR 66 RB-graded pennies can be worth around $2,800, which increases to around $3,500 for PR 66+ accredited by PCGS.
Here are some highly valued proof pennies sold:
The overrate date occurs when an existing mint date is struck with a new date. In this case, the 1888 was struck over the 1887 date, leaving traces of the “7” on the new 1888 inscription. Since this variety is a die mistake, other coins likely have the same error.
Value Range:
The Repunched date error, as the name suggests, occurs when the date is punched on the same coin again, resulting in a double-struck date. This error is different from the overdate since the exact date is being struck. This error is also a die error, so many pennies were flawed by this error.
The MS64 BN graded 1888 Repunched date Indian Head Penny was sold at $9,200 in 2009. Later, in 2013, a similar MS63 RB coin was sold at $2,530.
MPD stands for Misplaced Date error, which is determined in three variants: FS-303, FS-304, and FS-305. The increasing number signified the severity of the positioning of 1 and 8. Similar to the other error, the MPD error was also a die mistake and hence transferred to other pennies.
An FS-303 graded G 4 was $380 in 2013. An FS-305 in MS 64 BN was $325 in 2016.
The determinants of the 1888 Indian Head Penny value are the condition, rarity, and errors. However, you need to access the historical auction data to compare the auction prices of similar examples.
Here’s what you need to consider:
In coin grading, there are four main conditions in which the coins are accessed: Uncirculated, Extremely Fine, Fine, and Good. Corresponding to these conditions, the grading scale is associated with a range of 1 to 70. Here, grade 70 or nearing 70 is the best condition, and 1 is the worst. Visit NGC or PCGS for more info on the grading scale.
As mentioned, the 1888 Indian Head penny is a rare issue. Also, due to its fascinating history, this penny has become a collector’s favorite. Collectively, rarity, demand, and historical context all tick the boxes to add to the 1888 penny value.
Such rare coins are only sold at auction since bullion dealers do not buy or sell them. Various verified and authentic auctions auction such rare coins. Visit the auction records from NGC and PCGS to find more.
There it is! Everything you needed to know about the 1888 Indian Head Penny. From its value to its design and its errors, this article covers the points you need in a negotiation! The 1888 Indian Head penny is truly an iconic creation from the US Mint. If you own a penny, you are one lucky person since ,no matter the condition, it will always be worth something.
Among the highly sought after creations of the US Mint are the Morgan Silver Dollars, American Eagles, American Buffalos, and some other privately minted rounds, which are great additions to a portfolio or collection. Explore the iconic collection at BOLD and find your piece of value at the most competitive prices!
Affiliations
Copyright BOLD Precious Metals 2025
