What is an Indian Penny?
An Indian penny is a one cent piece, the smallest denomination of U.S. currency, that was manufactured between 1859 and 1909. It replaced the unpopular previous one-cent piece known as the flying eagle head cent.
The Indian penny was designed by James Barton Longacre. There is some disagreement as to whether or not the name is actually a misnomer. Most coin collectors assert that the front of the piece depicts an American Indian wearing a headdress or a war bonnet. Some, however, insist that the figure on the front of the coin is not an Indian at all but instead is Lady Liberty wearing a feathered hat. There have even been rumors that James Longacre’s daughter posed for the head, but these have not been substantiated.
Variations on the Indian Penny
Throughout its fifty year history, the Indian penny underwent some changes. In 1859, the reverse side of the coin featured the words "one cent" and a laurel wreath. In 1860, however, the words "one cent" appeared inside a reath of oak and olive with a Federal shield above. In 1864 Longacre, the coin’s designer, began adding his mark to the head–an "L" located in the headdress.
The composition of the coin also changed. Between 1859 and 1864, Indian penny coins were manufactured using an alloy of 88% copper and 12% nickel. Due to Civil War shortages, in 1864 the formula changed to 95% copper and 5% tin and zinc. This made the coin considerably lighter.
The location where the coins were manufactured also changed. From 1859 until 1909, they were made at the Philadelphia mint. From 1908 to 1909, they were manufactured at the San Francisco mint. It is easy to spot a San Francisco Indian penny because it features an "S" at the bottom of the reverse side.
The Lincoln one cent piece that is used in the United States today replaced the Indian penny in 1909.
The Value of the Indian Penny
Most Indian pennies are not particularly valuable for two reasons–first, many of them are in poor condition; second, between 1859 and 1909, almost two billion of the coins were struck, so they can hardly be considered rare. Most Indian pennies in good condition are worth only about $1 US Dollars.
A couple of factors, however, may make the coin more valuable. A coin in excellent condition will always command a higher price than a coin that is merely in "good" condition. The year in which the coin was manufactured also has a bearing on price. In 1877, very few Indian pennies were manufactured, so an 1877 Indian penny in good condition will attract the interest of most experienced collectors. In fact, it can be worth up to $400 US Dollars. Finally, only about 300,000 Indian pennies were made at the mint in San Francisco, making San Francisco coins somewhat more valued by collectors than their Philadelphia counterparts.
The average Indian penny may not make anybody rich, but it is a poignant reminder of a bygone era. Anyone who has a chance to add an Indian penny to his or her collection should consider doing so.
An Indian penny refers to any of the one cent coins which were minted in the United States between 1859 and 1909. These coins bear the likeness of the head of the Statue of Liberty wearing a feathered headdress. Because the headdress resembled those traditionally worn in Native American cultures, the coin became known as the Indian penny or Indian head cent. James Barton Longacre is credited with coming up with the design for the coin, while he was employed as the engraver at the Philadelphia mint. About 1.85 billion Indian pennies were minted throughout its 50-year lifespan. Despite the large number of these coins that were originally minted, relatively few survive. Because of this, all Indian pennies are worth at least $1 US Dollar (USD), as long as the date can be read, as well as the mintmark if there is one. Coin values, in general, are based on a combination of the rarity of the specimen and its condition. Of course, this is the case with most collectibles, but coin conditions ar
