The 1859 Indian Head Penny replaced the Flying Eagle Penny after a run of only 3 years. Director of the US Mint James Snowden felt that the design of the Flying Eagle Penny caused it to strike poorly and wanted a replacement. The Indian Head design was found to strike better, with none of the metal flow problems that were experienced with the flying eagle design.
The 1859 Indian Head Penny was designed by mint engraver James Longacre and has the same 88% copper 12% nickel composition as the Flying Eagle Penny. But the 1859 Indian Head Penny is different than the rest of the series. This is the only date in the series not to have the shield on the reverse. It also has a laurel wreath on the reverse, and is the only date not to have the oak wreath with arrows.
The US Mint struck 36,400,000 examples of the 1859 Indian Head Penny, the most ever for a small cent (or any other coin) up till that point. In the copper nickel examples of the Indian head penny, only the 1863 year has a higher mintage. The copper nickel coins are also much thicker than the bronze examples that began in 1864.
The 1859 Indian Head Penny saw only 3 years of circulation before being hoarded with other coinage due to the Civil War, and many were withdrew from circulation and melted in the 1870s. Those remaining are plentiful in grades of Very Fine and lower, and in Mint State as well, but carry a premium because of their popularity as a first year of issue.
1859 Indian Penny Value:
G-4 $13.00 VG-8 16.00 F-12 $22.50 VF-20 $48XF-40 $100 AU-50 $175 MS-60 $230 MS-65 $3650
The 1908 S Indian head penny was the first US cent to bear a mint mark, until that time all US pennies were issued from the Philadelphia Mint. The S stands for the San Francisco branch of the mint.
The 1908 S Indian head penny has the third lowest mintage of the series at just 1,115,000 coins, making it one of the key dates of the series. The 1908 S Indian head penny is one of only two coins in the Indian Cent series to have a mint mark. The other is the 1909 S Indian Head Penny.
The mint mark is located just right of center under the bow on the reverse of the coin.
Prior to the 1906 San Francisco earthquake, gold and silver coins were the only ones in circulation and transactions were rounded to the nearest nickel. The use of the cent on the West Coast was needed to allow for smaller incremental price changes and to pay the small amounts a new sales tax required. It also allowed for street car fare to be raised from 5 to 6 cents a trip. The 1908 S Indian head penny would fill the void needed to allow for this to happen.
The entire mintage of the 1908 S Indian head penny was delivered on February 27 1908. The coin was a novelty to the local population who were not accustomed to penny coinage, and this date circulated widely at the outset. After the Lincoln Cent replaced the Indian head penny in 1909, these coins were selectively removed from circulation.
When choosing a 1908 S Indian head penny for purchase keep in mind that the values for a G-4 or VG-8 coin are not much less than a coin in F-12 or VF-20 condition. The latter two coins will have a full LIBERTY in the headdress and will be much more attractive than the more worn lower grade coins. The value ranges from $77 in G-4 to$285 in MS-60 with higher grade uncirculated coins going as high as $2650. Bright red uncirculated coins will command higher prices than their brown or red brown counterparts.
1908 S Indian Head Penny Values:
G-4 $77 VG-8 $82 F-12 $105 VF-20 $122 XF-40 $166 AU-50 $195 MS-60 $285 MS-65 $2650
The 1907 Indian head penny had the highest mintage of the series, with 108,138,618 coins being struck, all at the Philadelphia mint. At the time this was the highest level of output ever at the US Mint.
The 1907 Indian head penny circulated widely and average well circulated examples of this coin are very common. Because of the large volume of coins minted, the price difference between a well circulated coin and one in Fine or Very Fine condition is minimal. The eye appeal of the higher graded coins, however, will be much better. A 1907 Indian head penny in Fine or Very Fine condition will have a full LIBERTY in the headdress and a lot more detail than one in Good or Very Good condition. These coins will only cost a couple of dollars more than their well worn counterparts. Spending some time and a little more money will result in a much nicer coin for your collection.
1907 Indian Head Penny Value:
G-4 $1.75 VG-8 $2.20 F-12 $2.50 VF-20 $3.50 XF-40 $8.50 AU-50 $20.00 MS-60 $28.00 MS-63 $55 MS-64 $100-$200 MS-65 $165
When it comes to the higher grade 1907 Indian head penny, those with red mint luster will command higher prices than the chocolate or brown colored coins. Bright red uncirculated coins will command the highest prices.
Indian Head Pennies are a hugely popular collectible coin series that shows no signs of slowing down in popularity.
They are popular with amateur collectors and experienced numismatists alike. They can be collected on nearly any budget and a complete set is not outside the reach of most collectors if you create a plan to pay for the rarer key dates.
Indian Head Pennies were in circulation during the Civil War and were freely spent in the Old West. When you hold an Indian Head Penny in your hand, your mind can race with thoughts of what famous person may have spent it and what kinds of items it purchased.
Indian head pennies were minted from 1859 to 1909 and come in two distinct varieties.
Indian Head pennies minted from 1859 to the beginning of 1864 were made of 88% copper and 12% nickel. These copper nickel Indian Head pennies are thicker and heavier than the bronze types to come later on. They were designed to contain a full 1/100 of a dollar's worth of copper. In the younger years of our Nation, coinage was designed to have REAL value and people did not trust paper money because it had no real value. People often hoarded coins to the point where there was an extreme shortage of coins during The Civil War.
The 1859 Indian Penny has no shield at the top of the reverse on the coin. This is the only date in the series not to have the shield.
Because of the difficulty in minting the copper nickel pennies, in the middle of 1864 the composition of Indian Head Pennies was changed to 95% copper and 5% tin/zinc. These bronze Indian Head Pennies were quite a thinner than their copper nickel counterparts, but the higher percentage of copper meant that citizens were still receiving a coin containing 1/100 of a dollar's worth of copper. The composition remained bronze until the series was discontinued in 1909.
All Indian Head Pennies minted prior to 1908 were struck in the Philadelphia Mint.
A small number of 1908 and 1909 Indian cents were minted at the San Francisco Mint. These 2 dates are the only ones in the series to bear a mint mark, and the 1908 S and 1909 S Indian Head Pennies are two of the scarcer key dates in the series.
The other main key date of the series is the 1877 Indian head penny. Only 852,000 specimens were struck and and in G-4 condition books for $985 or more. Many of the dates from the late 1860's and 1870's have low mintages and comprise the semi keys of the series. Average circulated bronze Indian head Pennies cost between 2 and 7 dollars a piece and the copper nickel ones average $10-$20 a piece. Coins in better condition sell much higher and many uncirculated Indian Head Pennies sell for hundreds of dollars or more.
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