1905 Indian Head Penny Values, Errors, and Rarities
1905 Indian Head Penny Values, Errors, and Rarities
Complete collector's guide to pricing, grading, varieties, and exceptional examples of this classic American coin
Table of Contents
1905 Indian Head Penny Overview
The Indian Head penny was minted from 1859 to 1909, representing a significant era in American coinage. The 1905 Indian Head penny stands out with the 5th largest mintage of the entire series, making it a very common coin that's accessible to collectors at various budget levels.
Total 1905 Indian Head Pennies Minted
5th largest mintage in the series (1859-1909)
Collector Appeal
Despite its high mintage, the 1905 Indian Head penny remains popular among collectors due to its historical significance and the appeal of the classic Indian Head design. The large production numbers mean that examples in various grades are available, allowing collectors to find specimens that fit their budgets and quality preferences.
Mint State Values and Pricing
The most valuable 1905 Indian Head cents are uncirculated coins earning the highest "Mint State" ratings from certified coin grading services. Mint State (uncirculated) coins are graded from MS-60 to MS-70.
Grading Knowledge
Coins are graded on a 70-point scale, where 1 is so worn as to be almost unidentifiable, and 70 is perfect, with no damage or blemishes visible even under magnification. Understanding this scale is crucial for evaluating coin values.
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| MS-60 | $15 - $25 | $25 - $40 | $45 - $65 |
| MS-63 | $35 - $50 | $60 - $85 | $120 - $175 |
| MS-64 | $65 - $95 | $120 - $170 | $250 - $350 |
| MS-65 | $140 - $200 | $275 - $400 | $650 - $950 |
| MS-66 | $350 - $500 | $750 - $1,100 | $2,500 - $4,000 |
| MS-67 | Rare | $3,500 - $5,500 | $15,000 - $25,000 |
Enough 1905 Indian Head pennies survive in most grades that you can cherry-pick them to find fully-struck examples with smooth surfaces with little difficulty.
Proof 1905 Indian Head Cents
Proof coins are made from specially prepared dies and deeply struck one at a time. These coins are meant to be sold to collectors, not circulate. Only 2,152 proof Indian Head cents were made in 1905, making them significantly rarer than business strikes.
Proof Characteristics
- Specially prepared dies with mirror-like surfaces
- Multiple strikes for sharp detail
- Intended for collectors only
- Limited mintage of 2,152 pieces
Proof Pricing Guide
- PR-63 BN: $400 - $600
- PR-64 RB: $800 - $1,200
- PR-65 RD: $2,000 - $3,000
- PR-67 RD: $8,000 - $12,000
Understanding Color Classifications
United States pennies are not only graded by condition but also by how much of their original color remains. There are three classifications that significantly impact value:
Brown (BN)
Circulated cents and uncirculated ones exposed to air develop a brown, sometimes chocolatey color. Less desirable to collectors.
Red-Brown (RB)
Good portion of original luster remaining. Some RB cents can have more eye appeal than "better" RD coins of the same grade.
Red (RD)
Almost all original luster present. Usually possible only for coins kept in rolls or airtight containers. Most valuable.
Color Rarity for 1905
As expected from a penny minted more than 100 years ago, most surviving coins are Brown. Red-Brown examples in Mint State are somewhat less common. Mint State 1905 Indian Head cents in Red condition are far scarcer than Red-Browns once you hit MS-63 and above.
Rarest Examples and Auction Records
This section highlights the finest-known examples of each 1905 Indian Head penny type and their remarkable auction prices. These records represent the pinnacle of the series and demonstrate the potential value of exceptional examples.
1905 Brown (BN)
Finest Known: MS-66 BN (PCGS); MS-66 BN (NGC)
1905 Red-Brown (RB)
Finest Known: MS-66 RB (PCGS); MS-66+ RB (NGC)
1905 Red (RD)
Finest Known: MS-67 RD (PCGS); MS-67+ RD (NGC)
1905 Proof
Finest Known: PR-67 RD (PCGS); PF-67 RD (NGC)
Varieties and Error Coins
Variety coins result from mistakes on the coin die, while error coins result from mechanical malfunctions of the coin press or defects in the coin blank itself. The 1905 Indian Head penny offers several interesting examples of both.
Varieties vs. Errors
Variety coins have defects that occur on the die before striking, affecting hundreds or thousands of coins. Error coins result from individual mechanical malfunctions during the striking process, making each one unique.
Common 1905 Varieties
- Repunched date varieties (difficult to see)
- 1905 DDR #21 (popular doubled die reverse)
- Minor die varieties throughout the year
Common Error Types
- Off-center strikes
- Clipped planchets
- Die cracks and breaks
- Lamination errors
Extraordinary Error: 1905 Gold Planchet
The most remarkable error in the 1905 Indian Head penny series is a coin struck on a $2.50 Quarter Eagle gold planchet. This represents one of the most significant errors in American numismatics.
Known Examples: Only 5 known to exist
Significance: This error occurred when a gold planchet intended for Quarter Eagle production was accidentally fed into the Indian Head penny press. The resulting coin features the copper penny design struck in pure gold, creating one of the most valuable error coins in American numismatics.
Extreme Rarity
This is definitely not a coin you're going to find in your spare change! The combination of the error's rarity and the intrinsic value of the gold content makes these among the most sought-after error coins by serious collectors.
Most common coin errors found in 1905 Indian Head pennies do not command very high prices compared to problem-free examples. However, the gold planchet error demonstrates how extraordinary circumstances can create numismatic treasures worth far more than their face value or even their precious metal content.