The Indian Head Penny was made from 1859 to 1909. It is one of the most iconic coins in American numismatics. It is designed by James B. Longacre, it features Lady Liberty wearing a Native American headdress on the obverse, with a wreath or shield on the reverse.
While many Indian Head Pennies hold only their copper value, some rare pieces are highly demanded because of minting errors, low mintages, or pristine conditions.
When Christopher Columbus landed in the Caribbean, he mistakenly called it the West Indies, believing he had reached India. Likewise, he referred to the native people as “Indians,” a term that is now considered derogatory. However, Indian Head Pennies were meant to honor them.
Now, let’s explore the 15 most valuable Indian Head Pennies!
Most Valuable Indian Head Penny Coins Worth Money
1. 1909-S Indian Head Penny Regular Strike
- Year: 1909
- Mint Mark: San Francisco
- Grade: MS 67 RD
- Date of Sale: January 5, 2006
- Price: $97,750
As we explore 1909-S indian head penny the most valuable Indian Head Pennies, we’ll focus on verified sales. But remember, coin prices change with rarity and demand. Selling during a historical milestone can bring higher profits.
To understand each coin’s value, we’ll dive into the history of the Indian Head Penny, its design, metal composition, origin, and minting location—plus some fun facts about American currency. Enjoy!
Would you like any more refinements?
2. 1899 Indian Head Penny Regular Strike
- Year: 1899
- Mint Mark: None (Philadelphia)
- Grade: MS 68 RD
- Date of Sale: August 18, 2019
- Price: $108,000
Let’s start with the basics of coin mintage. People who study coins, tokens, and medals are called numismatists, and their field is numismatics. The front (heads) side of a coin is the obverse, while the back (tails) is the reverse. The thinnest sides are called edges.
Coins are made by feeding a metal sheet into a blanking machine, which punches out discs called planchets. The edges might have ridges (rims or collars), or they can be smooth. Some coins even mix both styles.
3. 1900 Indian Head Penny Regular Strike
- Year: 1900
- Mint Mark: None (Philadelphia)
- Grade: MS 67+ RD
- Date of Sale: February 25, 2021
- Price: $28,200
Coins often have words required by law, such as the country’s name, a national motto, or the title of the person depicted. These are called legends or mottos and usually appear on the front or back but sometimes on the edge.
When writing is placed on the coin’s edge, it’s called an edge inscription or edge lettering, done using a Schuler Edge Incusion Machine. This method was first used on gold and silver coins as an anti-counterfeiting measure.
4. 1905 Indian Head Penny Proof
- Year: 1905
- Mint Mark: None (Philadelphia)
- Grade: PR 67 CAM
- Date of Sale: July 31, 2009
- Price: $23,000
In the past, a coin’s value was based on its weight in precious metal. A $1 gold coin had to be worth $1 in molten gold. Some people would shave the edges to make the coin smaller and cheat others.
To stop this, the U.S. Mint added edge lettering. If the letters were missing, it was clear the coin had been tampered with. This practice ended when coins were made from base metals instead of gold and silver.
5. 1859 Indian Head Penny Regular Strike
- Year: 1859
- Mint Mark: None (Philadelphia)
- Grade: MS 66+
- Date of Sale: February 2, 2012
- Price: $34,500
The Indian Head Penny is unique because it doesn’t actually depict a Native American. Instead, it shows a lady wearing an Indian Chief’s headdress.
Back then, U.S. coins didn’t feature presidents. The Founding Fathers, including George Washington and Benjamin Franklin, believed it was too monarchical—like the kings and queens on foreign coins—so they rejected the idea during their lifetimes.
6. 1872 Indian Head Penny Regular Strike
- Year: 1872
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $126,500
The Founding Fathers preferred coins to feature Lady Liberty rather than real people. Her image was often inspired by ancient goddess statues or, later, by real American women.
The Indian Head Penny is believed to be based on Sarah, the daughter of the Chief Mint Engraver. Legend says he sketched her at age 12 and used her likeness for the coin, but both denied the story.
7. 1864 Indian Head Penny L Ribbon Proof
- Year: 1864
- Mint Mark: None (Philadelphia)
- Grade: PR 65 CAM
- Date of Sale: April 27, 2016
- Price: $152,750
A popular story claims Sarah, the engraver’s daughter, wore a Native American headdress while visiting her father’s office, inspiring the coin’s design. However, Sarah was already 30 and married by then, making the tale unlikely.
James B. Longacre, the coin’s designer, said his inspiration came from Crouching Venus, an Italian statue displayed in Philadelphia at the time. Still, some of Sarah’s features may have unintentionally influenced the final portrait.
8. 1877 Indian Head Penny Regular Strike
- Year: 1877
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $149,500
The Indian Head Penny featured a young Lady Liberty wearing a pearl necklace and a Native American headdress. This feathered tiara, typically worn by male chiefs and elders, gave the design a masculine touch.
Following constitutional requirements, the obverse displayed the United States of America along the sides, the date at the bottom, and Liberty on the headband. Some coins also had Longacre’s initial “L” hidden in the lower locks of her hair.
9. 1908-S Indian Head Penny Regular Strike
- Year: 1908
- Mint Mark: San Francisco
- Grade: MS 67 RD
- Date of Sale: January 24, 2021
- Price: $21,600
In 1858, the reverse of the Indian Head Penny featured a laurel wreath with berries, tied with a ribbon at the bottom, and One Cent in the center. The term “penny” comes from British influence.
By 1859, the design changed. The laurel wreath was replaced with an oak wreath, topped by a shield. At the bottom, three arrows were tied into the ribbon holding the laurel sprigs and oak branches together.
10. 1888 Indian Head Penny Regular Strike
- Year: 1888
- Mint Mark: None (Philadelphia)
- Grade: MS 67 RD
- Date of Sale: January 7, 2008
- Price: $63,250
Before 1971, a British penny was 1/240 of a pound, and its plural was pence. Since we were once a British colony, we originally used their money. But after creating our currency, we switched to dollars and cents, where 100 cents made $1.
In 1971, the UK adopted a decimal system, making 100 pence equal to £1. Yet, we still call our 1-cent coin a “penny” instead of One Cent, as written on its reverse. Even though a penny isn’t worth much today, it remains a familiar part of our daily lives.
11. 1870 Indian Head Penny Regular Strike
- Year: 1870
- Mint Mark: None (Philadelphia)
- Grade: MS 66+ RD
- Date of Sale: March 26, 2020
- Price: $25,850
Over the years, Congress has debated getting rid of the penny since its value is low and production costs outweigh its worth. But despite multiple attempts, it has remained in circulation. However, old coins like the Indian Head Penny still sell for high prices in the collectors’ market.
The Indian Head Penny was the second small cent series. Earlier 1-cent coins measured 28.57mm (about 1 1/8 inches) in diameter and were mostly copper. When metal prices increased, their melt value surpassed their face value, leading people to hoard them.
12. 1869 Indian Head Penny Regular Strike
- Year: 1869
- Mint Mark: None (Philadelphia)
- Grade: MS 66+ RD
- Date of Sale: August 18, 2019
- Price: $84,000
At one point, the copper content in U.S. coins made them more valuable when melted than their actual face value. To address this, the U.S. Mint reduced the size of the cent to 19.05mm and adjusted its metal composition to ensure its production cost aligned with its worth.
From 1859 to 1864, Indian Head Pennies contained 12% nickel, giving them a slightly different appearance. Starting in 1864 and continuing until the end of the series in 1909, the composition changed to 95% copper with a 5% mix of tin and zinc. Over time, the metal content influenced how the coins aged, leading to three standard color classifications: Red (RD), Red-Brown (RB), and Brown (B).
13. 1873 Indian Head Penny Open 3 Regular Strike
- Year: 1873
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: August 9, 2007
- Price: $54,625
The California Gold Rush of the 1850s had an unexpected impact on copper prices. Before the discovery of large gold deposits, gold was scarce and highly valued, while copper remained relatively inexpensive. However, as gold became more abundant, its purchasing power decreased, making copper more expensive in comparison.
To address fluctuating metal values, the United States eventually abandoned the gold standard, stabilizing copper prices. A similar situation occurred with silver, leading to its gradual removal from circulating coins. Today, American coins primarily consist of copper, nickel, and zinc, with their surface metal determining their final appearance.
14. 1871 Indian Head Penny Regular Strike
- Year: 1871
- Mint Mark: None (Philadelphia)
- Grade: MS 66 RD
- Date of Sale: January 5, 2006
- Price: $60,375
During the Civil War, the demand for nickel surged as it was needed for military applications. This led to widespread hoarding of the 12% nickel pennies, commonly referred to as “White Cents” due to their pale, silvery appearance. They were also nicknamed “Nicks” by collectors and the public.
In response to the shortage, the U.S. Mint switched from a copper-nickel alloy to bronze in 1864. This change not only conserved nickel for the war effort but also ensured that the Mint could continue producing pennies at a high profit. The low cost of bronze maximized seigniorage—the difference between a coin’s face value and its production cost—making the penny one of the most financially beneficial coins for the Mint.
15. 1894 Indian Head Penny Proof CAC
- Year: 1894
- Mint Mark: None (Philadelphia)
- Grade: PR 66 CAM CAC
- Date of Sale: September 1, 2013
- Price: $18,800
Indian Head Pennies were primarily struck at the Philadelphia Mint throughout their production, except for the 1908 and 1909 issues from the San Francisco Mint. Philadelphia coins bore no mint mark, whereas San Francisco-minted pieces featured an “S” mint mark positioned just below the ribbon securing the arrows on the reverse.
These coins had a smooth, plain edge without reading, but their surfaces displayed denticles—small, tooth-like details around the rim, which added to their intricate design. The Indian Head Penny remained in circulation until 1909 when it was replaced by the Lincoln Cent. This transition honored the 100th anniversary of Abraham Lincoln’s birth, introducing the design still used in modern pennies today.
Bottom Line:
The 15 most valuable Indian Head Penny coins that are presented here the amazing variety and interest of the numismatics industry. Every coin, from the iconic 1877 Indian Head Penny to the historic 1864-L selection, has an origin story and provides an overview of America’s rich financial history.