Want to learn more about the value of Indian head pennies? Read on to find out about the value of the much sought after Indian head penny series…
Indian head pennies are amongst those historical coins that make great additions to any coin collector’s album. What makes these coins unique is the fact that they are not very old and yet have collectorship value. However many of those that have Indian head pennies in their collection are unaware of the exact value.
The entire series of Indian head pennies was struck between 1859 to 1909. James Longacre is the man credited for designing the graphics made on these coins. Although the last Indian head penny was struck in 1909, their circulation continued for many years to come. Although Indian head pennies were not considered to be collectible coins during the time they were being circulated but nonetheless some coin collectors were impressed by the unique graphics on the coins and thus added them to their collection. With the passage of time however the value of Indian head pennies continued to grow and they became an excellent choice especially for those individuals looking to start out with a coin album.
Factors Determining the Value of Indian Head Pennies
There are a number of factors that contribute to determine the value of coins in general. One of these factors is the quantity in which they were minted. With regards to Indian head pennies, rarity is not one of the aspects associated with these coins because they were struck in millions. This is why you will be able to find that some Indian head penny series can actually be purchased for under five dollars. However the rarer versions can exceed the $50 mark and may very well go up in the thousands.
Generally speaking the uncirculated variety of Indian head pennies tends to be valued higher than the other variety. Indian head pennies struck between the dates of 1880 the early 1900s are widely available in the market and are not very expensive to add to your coin collection.
Rare Indian Head Pennies
As a savvy coin collector you need to keep your eyes open for the scarce dates for Indian head pennies. Generally the scarce dates are valued between $25-$50 and can go well up in the hundreds as well. Amongst the scarce dates for the series include the 1864 Indian head penny with the mint mark “L” on the ribbon. This particular coin can cost you up to $700. The dates of 1866 till 1873 are all categorized amongst the scarce dates and are considered to be of high value. After a gap of four years you have the 1877 Indian head penny which is worth well over $5000. The Indian head penny coins for the following two years are also highly valued.
Perhaps one of the most sought after Indian head penny dates is the one released during the last year of the series which is 1909. This particular coin was minted in the San Francisco facility and thus bears the mintmark of “S”. Another factor that adds value to this particular date is the fact it is one of the only two dates that have been printed at this particular facility for the series.