Indian Head Penny: History and Value

Cents? Are cents valuable? Are you one of those people who think the same? Buckle Up! This article will starstruck you in awe. The featured Indian Head Penny, minted from 1859 to 1909, has values ranging from $2 to a staggering $3,000. This article will enlighten you on why these pennies have such worth, market demand, and their profound history.

The Indian Head Penny, also known as the Indian Head Cent, was minted by the United States Bureau of the Mint from 1859 to 1909. These pennies were designed by James Barton Longacre, the Chief Engraver at the Philadelphia Mint. James is also the iconic and worldwide renowned engraver for his creation, the first Double Eagle of 1849. This summarized background has interesting beginnings and history! Keep reading to clarify the Indian head Penny's history and values.

     History

The introduction of the Indian Head Penny was as fascinating as learning about its values. The US Mint introduced Indian Head Pennies or Indian Head Cents ($0.01) 1859. From 1859 to 1864, these pennies comprised 88% Copper and 12% Nickel, which was later upgraded 1864 to 95% Copper, 5% Tin, and Zinc until 1909.

The Story begins in the 1850s when copper cents were as large as a half dollar. During the same period, the discovery of gold in California caused major inflation in metal prices. As copper prices rose, the mint directors were forced to look for composition alternatives, which resulted in the Flying Eagle Cent in 1857. However, the Flying Eagle brought production difficulties and complications, causing them to be replaced.

Thus, in 1858, the Flying Eagle was succeeded by the Indian Head Cent, designed by James Barton Longacre. The Indian Head Penny became the second instance of the American Coinage Cent after the larger cent was discontinued.

Did You Know?

The Indian Head Penny was phased out, and the Lincoln Wheat Penny followed in 1909, the centennial year of Abraham Lincoln’s birth.

     Indian Head Penny Value

Indian Head Pennies, or any other ancient coin, are valued based on three factors:

1. Years of mintage

2. Age, and

3. Rarity.

The Indian Head pennies comprise a spectrum of choices considering these three factors. They are primarily popular for their years of mintage, complemented by profound stories and events revolving around them.

The initial years of production, specifically the first ten years of production cents, are worth more than the later productions. Collectors consider the initial productions more valuable since they occurred just before the Civil War outbreak in the USA.

Secondly, these coins have lived a century, meaning their age also significantly contributes to the Indian Head Penny's Value. When considering age, the better the coin's condition, the more valuable it is. Finding an excellent condition for the initial release of the Indian Head Penny will make collectors and investors rain like cats and dogs.

Lastly, the Indian Head Penny's popularity and value also depend on release to release. This comes into consideration, as different releases have different mintage and availability. The rarity of the coin, its condition, and its year of mintage are combined to determine its value. Some releases are highly rare and valuable, while others are lower priced since they are abundant.

To summarize, the Indian Head penny value breakdown, the coin bearing mintage date of the first ten years in excellent condition will be the most valuable.

     Indian Head Penny Design

The Indian Head Penny's design resulted from James Barton Longacre's art. It underwent a few changes in 1860. The obverse side is said to be a sketch of James’ daughter Sarah Longacre. However, it was told to be a sketch of a statue of Crouching Venus in Philadelphia. Lady Liberty is depicted wearing a Native American headdress and surrounded by the inscriptions “UNITED STATES OF AMERICA,” with the year of issue.

The reverse showcases the imprints “ONE CENT,” encircled within two tied laurel wreaths across the coin's circumference. In 1860, the reverse experienced a change in the design, introducing the oak wreaths, a narrow shield, and the “ONE CENT” inscriptions.

     Indian Head Penny Value Table (1859-1909)