Indian Head Penny Key Dates
Indian Head Penny Key Dates
Complete guide to the most valuable and scarce Indian Head cents from 1859-1909
Introduction
The Indian Head penny was struck by the United States Mint from 1859 through 1909, replacing the Flying Eagle cent design. It became one of the most widely collected coins in American numismatic history.
Today, the Indian Head cent remains arguably one of the most popular 19th-century coins. It is still enthusiastically embraced even by young collectors born decades after Indian Head pennies faded from circulation in the 1940s, '50s, and '60s.
Accessibility for Collectors
One aspect of the Indian Head cent that helps bolster the coin's status as a popular collectible is its accessibility. Many Indian Head pennies can be bought for only a dollar or two in well-worn grades. Most issues trade for less than $30 in circulated condition.
But, like every series, the Indian Head cent has its key dates. These are the coins we're going to focus on in this article.
Table of Contents
- Indian Head cent key dates overview
- 1877 Indian Head cent - The ultimate key date
- 1909-S Indian Head cent - The San Francisco rarity
- Other Indian Head cent key dates and varieties
- Scarce dates from 1866-1878
- Notable varieties and error coins
- Indian Head penny history and design
- Current values and collecting tips
Indian Head Cent Key Dates
The Indian Head penny offers a number of dates that are considered scarce. The two business strikes that rank as the rarest are the 1877 and 1909-S.
Primary Key Dates
- 1877: The ultimate key date with heavy wear in circulation
- 1909-S: Low mintage transitional year from San Francisco
Semi-Key Dates
- 1859: First year of issue, popular with collectors
- 1861: Civil War year production
- 1908-S: Low mintage late-date rarity
Scarce Years
Every date issued between 1866 and 1878 is challenging to find in any grade, making this entire run among the scarcest and most expensive across the board.
The 1877 Indian Head penny is one of only two business strikes in the series that saw a mintage of less than 1 million. But that information alone doesn't tell the whole story behind why this coin is so rare and sought-after.
The 1877 penny was struck at the Philadelphia Mint and saw heavy use during its time in circulation. The number of collectible survivors is likely only a few percent of the original mint output. This means that a tiny fraction of specimens exist for collectors today.
Survival Rates and Market Dynamics
Most 1877 Indian Head cents exist in circulated condition. Among these, the most commonly encountered grades are in the About Good-3 to Fine-12 range. Examples at this level are ideal for Indian Head cent sets in circulated condition.
Nicer specimens are increasingly challenging to find the higher on the grading spectrum one goes on their search for this coin, and with that comes steeper prices.
1877 Indian Head Cent Values
In 1906, revisions to United States Mint coinage law permitted branch mints to produce low-denomination base-metal coins, such as the bronze one-cent coin. Two years after the passage of this law, the 1908-S Indian Head cent was struck at the San Francisco branch mint. One year later, in 1909, the San Francisco Mint again struck the Indian Head cent.
However, 1909 was a transitional period for the penny, and production was split between making Indian Head cents and Lincoln cents. As a result, both types saw relatively low mintage figures at the San Francisco Mint.
Mintage Comparison
The 1909-S Indian Head cent saw a mintage of 309,000. This is much lower than the 1877 key date and less than the mintage of the iconic 1909-S VDB Lincoln cent that was struck months later to the tune of 484,000 pieces.
1909-S Indian Head Cent Values
The 1909-S Indian Head penny shares key-date status with the 1877 Indian Head cent, which has the higher mintage and loftier values. Meanwhile, the 1909-S boasts a lower mintage but also somewhat softer pricing. These dynamics are due in part to overall availability in the marketplace, demand, and the like.
To be sure, both the 1877 and 1909-S Indian Head cent are of great importance to series enthusiasts. Both are necessary additions to any set that aims for a complete representation of all business-strike date and mintmark combinations.
Other Indian Head Cent Keys
While the 1877 and 1909-S Indian Head cents are the series keys, other issues are scarce even in the lower grades.
1859 - First Year Issue
The first-year issue from 1859 enjoys perennial popularity. It sees somewhat higher values due to increased demand for the date. The 1859 Indian Head penny offers similar supply levels as more obscure issues.
Can be had for less than $25 in lower circulated grades but trades for much more in better states of preservation.
1861 - Civil War Year
The 1861 Indian Head cent also bears a popular date, given its production during the first year of the Civil War. This historical significance adds to its collectible appeal.
Similar to the 1859, can be had for less than $25 in lower circulated grades but commands higher prices in better condition.
1908-S - Semi-Key Date
Another late-date rarity worth mentioning is the 1908-S, which can best be described as a semi-key. With its low mintage of 1,115,000, it is indeed scarce.
The 1908-S realizes around $85 and up in Good-4.
1909 Philadelphia
Not to be left out of the conversation is the last year 1909 Philadelphia Indian Head cent, no slouch pricewise at $10 and up in Good-4.
As the final year of the series from the main mint, it carries premium value for type collectors.
Scarce Dates from 1866-1878
The Challenging Middle Years
As almost any Indian Head cent series connoisseur would attest, every date issued between 1866 and 1878 is challenging to find in any grade. As a group, these Indian Head pennies are among the scarcest and most expensive across the board.
That run of Indian Head cents also encompasses some sought-after varieties, including the 1873 Doubled Liberty. This doubled die coin starts at more than $150 in a grade of Good-4.
Market Transition
Indian Head cents from 1880 on are generally much more common. They can be had for relatively inexpensive prices on up through Mint State-60 Brown. Prices are usually less than $100 even at the prestigious uncirculated level.
Of course, there are exceptions, as is previously noted with the key-date 1909-S that came along at the tail end of the series.
Notable Varieties and Error Coins
1864 "L" Variety
Midway through 1864, the initial "L" for Indian Head cent designer James B. Longacre was added to the ribbon near the lower head feathers on the obverse.
This created two varieties in 1864: "No L" and "With L." The "With L" is a scarcer variety that goes for around $50 and up in circulated grades.
1873 Doubled Liberty
This doubled die coin is among the most sought-after varieties in the series. The doubling is visible in the word "LIBERTY" on the headband.
Starts at more than $150 in a grade of Good-4 and increases significantly in higher grades.
1888/7 Overdate
Another important error is the 1888 Indian Head overdate. The last "8" in the date was punched over a "7" from the previous year.
This may be the most valuable Indian Head cent known. Prices can reach into five figures at auction.
Proof Coins
Meanwhile, all proof Indian Head cents from any point in the series are categorically scarce and trade for a minimum of $100.
These were specially made for collectors with mirror-like surfaces and sharp details.
Indian Head Penny History
The Indian Head design was created by Mint Chief Engraver James Barton Longacre. Longacre also designed its predecessor, the Flying Eagle penny. This was the first of the mint's "small cents" to carry a one cent face value. They were composed of 88% copper and 12% nickel.
Design Significance
The Indian Head type was the first U.S. coin to feature Native American imagery. However, the image created by Longacre is actually Lady Liberty wearing an Indian headdress.
Design Evolution
Beginning in 1860, the second variety of the design added a shield at the top of the reverse design, creating a more patriotic appearance during the Civil War era.
Longacre's Legacy
During his time at the mint, Longacre also designed the first gold dollars, the $20 double eagle, the silver 3-cent coin, and the $3 gold piece.
Thematic Continuation
This Native American theme would be used again later on $10 gold coins called Gold Eagles, showing the lasting appeal of Longacre's artistic vision.
Design Evolution
In addition to creating new designs, Longacre altered aspects of the Seated Liberty design used across silver coinage created by the preceding Chief Engraver, Christian Gobrecht. This demonstrates the collaborative and evolutionary nature of American coin design.
Indian Head Penny Value and Collecting
Coin values for uncirculated (mint state) examples are often higher than the prices quoted above. Although not traditionally thought of as a rare coin, the Indian Head penny is worth consideration by collectors.
Collecting Strategy
The 1881 Indian Head cent is among the most common dates and represents an excellent starting point for new collectors. From there, collectors can work toward acquiring the more challenging dates systematically.
For those interested in precious metals collecting alongside numismatics, consider exploring gold coin collecting or silver coin investments to diversify your numismatic portfolio.
Entry Level Collecting
- Start with common dates from 1880s-1900s
- Focus on circulated examples initially
- Build a complete type set first
- Learn grading standards and market values
Advanced Collecting
- Pursue key dates like 1877 and 1909-S
- Collect varieties and error coins
- Upgrade to higher grade examples
- Consider proof specimens
Market Trends
Indian Head cents have shown steady appreciation over decades, with key dates performing particularly well during precious metals bull markets.
Authentication
For expensive key dates, consider professional grading services to ensure authenticity and accurate grade assessment, especially for 1877 and 1909-S examples.
Building Your Collection
Whether you're just starting out or looking to complete an advanced set, Indian Head pennies offer excellent opportunities for collectors at every level. The series combines historical significance, artistic beauty, and collecting challenge in a way that has captivated numismatists for generations.