The 1859 Indian Head penny, which started a legendary 50-year run, has a specific place in the coins of the United States. This coin, which is valued for its historical value and beautiful design, attracts collectors who respect its attractiveness and uniqueness. It represents the change from earlier huge cents to smaller, more practical coins and is the first coin in the Indian Head penny collection. Today, the 1859 Indian Head penny is a valuable collectible with prices that can surprise even experienced numismatists. This article delves into the coin’s history, specifications, design, rarity, condition, grading, value, and notable errors.
History of the 1859 Indian Head Penny
The Flying Eagle cent, which was only in use for a short time, had been succeeded in 1859 by the Indian Head penny. Large cents had been in use since 1793, but their impracticality led to a demand for smaller, more valuable coins. The U.S. Mint aimed to design a coin that would be more affordable to manufacture and simpler to handle. Because the new penny was made of a copper-nickel alloy, it was stronger than the ones that came before it.
The shift from real people in history to the Indian Head cent signified another change in coin design. Chief Engraver James B. Longacre, on the other hand, chose to show Liberty with a Native American headdress. This decision maintained George Washington’s challenge while giving the coin an American look to depict real people in U.S. coins.
The 1859 penny’s reverse design featured a laurel wreath surrounding the denomination, but this was a short-lived design, as it was replaced with an oak wreath and shield starting in 1860. The 1859 Indian Head penny thus became a unique piece within the series, distinct from the coins that followed.
Specifications of the 1859 Indian Head Penny
The 1859 Indian Head penny is different from earlier pennies in several specifications, which are:
- Composition: Copper-nickel alloy (88% copper, 12% nickel)
- Diameter: 19.05 mm (0.75 inches)
- Weight: 4.67 grams (0.16472 ounces)
- Thickness: 2.30 mm (0.09055 inches), often referred to as a “Fatty” penny due to its thickness
- Edge: Plain
- Mint: Philadelphia (no mint mark).
Design of the 1859 Indian Head Penny
Obverse Design
A left-facing profile of Lady Liberty with a headdress similar to that of a Native American appears on the obverse of the 1859 Indian Head coins, along with the words “LIBERTY.” Although the picture on the coin is commonly referred to as a “Indian Head” cent, it actually represents Liberty and depends on the ancient find known as “Crouching Venus.” “UNITED STATES OF AMERICA” has been written around the outside edge, and the minting year “1859” appears under the image.
Reverse Design
The reverse design of the 1859 Indian Head penny is simple yet elegant. It shows the denomination “ONE CENT” encircled by a laurel wreath. This was the only year that the laurel wreath design was used; starting in 1860, the reverse was redesigned to include an oak wreath with a small shield at the top.
Rarity and Condition
36,400,000 coins of the 1859 Indian Head cent were struck overall, all of which were made at the Philadelphia Mint. Also, an estimated 800 proof coins were made. Because of their ancient history and common use, 1859 pennies are difficult to find in perfect condition, even with their high mintage for the period.
Higher grade coins, mostly uncirculated pieces, can be extremely rare and expensive while lower grade coins, such those in Good or Very Good, become more common and reasonably priced. A coin’s market worth is heavily influenced by its condition, with Mint State examples commanding higher prices. Proof examples are highly wanted by collectors because of their limited mintage.
Grading of the 1859 Indian Head Penny
Grading is important to determine the 1859 Indian Head penny’s value, with the following grades commonly used:
- Good (G): The coin is heavily worn, with major details visible but faint.
- Very Good (VG): The coin shows more detail than the Good grade but remains well-worn.
- Fine (F): The design details are clear but show wear.
- Very Fine (VF): The coin exhibits some light wear, but all major features are distinct.
- Extra Fine (XF): Light wear is present only on the highest points.
- About Uncirculated (AU): The coin has minimal wear, typically visible only on the highest details.
- Mint State (MS): The coin shows no wear from circulation, with grades ranging from MS60 (average uncirculated) to MS70 (perfect condition).
Proof coins are graded separately, with PR60 being the lowest proof grade and PR70 indicating a perfect specimen.
Errors on the 1859 Indian Head Penny
The 1859 Indian Head penny is known for some interesting mint errors, which can increase its value:
- Die Crack: The repetitive use of dies resulted in cracks, which sometimes appeared on the coins. Coins with noticeable die cracks can bring a premium, depending on the size and location of the crack.
- Re-punched Date: This error happened when the date on the coin was stamped more than once. Re-punched date coins from 1859 can change in value depending on the visibility and prominence of the error.
Value of the 1859 Indian Head Penny
The value of an 1859 Indian Head penny is based on its condition, with coins in higher grades commanding premium prices:
- Good (G): $22
- Very Good (VG): $26
- Fine (F): $36
- Very Fine (VF): $48
- Extra Fine (XF): $130
- About Uncirculated (AU): $215
- MS60: $425
- MS63: $925
- Proof (PR63): $1,750
Coins in Mint State 65 and higher are rare and highly valued, with some examples selling for thousands of dollars at auction. An 1859 MS66 penny can bring in as much as $5,800, while an exceptionally rare MS67 specimen can be worth over $32,000. Proof coins, especially those with cameo or deep cameo features, also command high prices.
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Conclusion
The 1859 Indian Head penny is a part of American history and is also a collectible coin. Collectors and investors alike are attracted to it because of its beautiful design, historical value, and other rarity factors. The 1859 Indian Head penny is a valuable and unique addition to any collection, whatever your interest in it because of its artistic benefits, historical value, or investment opportunities.