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What Are the Values of Indian Head Pennies?

Indian head pennies were minted by the United States government from 1859 to 1909. Nearly all of these pennies were minted at the U.S. Mint in Philadelphia, Pennsylvania, except for the years 1908 and 1909 when they were also minted in San Francisco. These pennies feature a bust of Lady Liberty adorned with a Native American style headdress. Certain uncirculated grade pennies can be sold for thousands of dollars, but many coins found by collectors will only be in the Good to Fair grade range. All listed prices are for pennies in Good grade condition.

Grades of Coins
- Coins are graded on their condition and appearance. Several key factors go into determining a coin's value as a collector's item, such as the coin's luster, the amount of design remaining on the coin and whether the coin has been cleaned.
Years Without Variations
- The age of these coins has increased their value above their original legal tender purpose. The rarity of some years has increased it further. Values as of May 2011 are: 1859 - $14.30; 1860 - $12.40; 1861 - $20.90; 1862 - $11.40; 1863 - $9.50; 1864 - $19; 1865 - $9.50; 1866 - $48; 1867 - $52; 1868 - $38; 1869 - $86; 1870 - $67; 1872 - $105; 1874 - $14.30; 1875 - $17.10; 1876 - $28.50; 1877 - $855; 1878 - $28.50; 1879 - $7.60; 1880-1883 - $2.85; 1884 - $4.75; 1885 - $7.60;1887 - $2.60; 1888-89 - $1.90; 1890-93 - $1.65; 1894 - $4.75; 1895-1900 - $1.65; 1901- 09 - $1.45.
Years With Variations
- Over the 50-year minting life, many variations of the indian head pennies arose due to printing errors. The rarity of these printing errors or mid-year printing changes have increased the value of these coins: 1860 Pointed Bust - $16.20; 1864 L on Ribbon - $48; 1865 Plain 5 - $9.50; 1865 Fancy 5 - $8.55; 1867/67 Double Stamp - $95; 1869/69 - $145; 1873 Closed 3 - $48; 1873 Open 3 - $19; 1873 Double Liberty - $285; 1886 I - $5.70; 1886 II - $9.50; 1888/7 - $1,900; 1894 Double Date - $33.25; 1908 S - $67; 1909 S - $525.
Compositions and Years
- The metal composition of the coins varies over the minting life of the pennies. From 1859 until 1864 the pennies were almost all copper, consisting of 88 percent copper and 12 percent nickel. At 72 grains, this was heavier than the current penny weight of 48 grains. In 1864, a change in law lowered the weight and allowed an alloy change to 95 percent copper and 5 percent tin and zinc, where it remained for the duration of the penny's pressing.

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