In this guide, we’ll cover the Top 10 most valuable Indian Head Pennies, complete with values in circulated and uncirculated condition, collector tips, and why these coins are so highly prized.
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The Most Valuable Indian Head Numismatic Coins
The Indian Head Penny (1859–1909) is one of America’s most iconic coins. Designed by James B. Longacre, it shows Lady Liberty in a Native American feather headdress, symbolizing freedom and unity. Struck first in copper-nickel and later in bronze, these coins circulated widely — yet certain dates and varieties are so rare that they sell for six-figure prices at auction.
While most Indian Head Pennies are worth just a few dollars in worn condition, the rarest examples can be worth tens of thousands — or even more than $150,000. Below we’ll cover the 10 most valuable Indian Head Pennies, with circulated and uncirculated values, auction records, and collector insights.
1) 1877 Indian Head Penny – $149,500+
Why It’s Valuable: The 1877 is the undisputed key date of the series, with a tiny mintage of just 852,500. Almost every Indian Head set needs one, keeping demand sky-high.
- Circulated: $900–$2,500+
- Uncirculated (MS-60+): $4,500–$12,000+
- Gem MS-66 Red: $149,500 (auction record, 2007)
Collector’s Tip: This coin is one of the most counterfeited in the series. Certification from PCGS or NGC is essential.
2) 1909-S Indian Head Penny – $97,750
Why It’s Valuable: The last year of issue and the only San Francisco–minted key date, with just 309,000 struck. This is the final Indian Head before the Lincoln Cent debuted.
- Circulated: $450–$1,200+
- Uncirculated (MS-60+): $3,000–$7,500+
- Gem MS-67 Red: $97,750 (auction record, 2006)
Quick Fact: Collectors often pursue this alongside the 1909-S VDB Lincoln Cent.
Explore: Are Indian Head Coins Worth Anything in 2025?
3) 1864 Indian Head Penny “L on Ribbon” – $152,750
Why It’s Valuable: Midway through 1864, designer Longacre added his “L” initial to Liberty’s ribbon. This variety, especially in proof format, is a major rarity.
- Circulated: $125–$400+
- Uncirculated (MS-60+): $1,500–$5,000+
- Proof PR-65 CAM: $152,750 (auction record, 2016)
Collector’s Note: Spot the tiny “L” on the ribbon to identify this variety.
4) 1872 Indian Head Penny – $126,500
Why It’s Valuable: With a mintage of just 3.56 million, this is a very tough date, especially in full red Mint State condition.
- Circulated: $100–$300+
- Uncirculated (MS-60+): $1,500–$4,000+
- MS-66 Red: $126,500 (auction record, 2007)
Market Insight: Look for strong strikes in the feathers; weakly struck examples are common.
5) 1899 Indian Head Penny – $108,000
Why It’s Valuable: Though a common date in circulation, in ultra-gem condition it’s a condition rarity. A PCGS MS-68 Red set an incredible auction record.
- Circulated: $2–$10
- Uncirculated (MS-60+): $60–$150+
- MS-68 Red: $108,000 (auction record, 2019)
Collector’s Note: This shows how “common” coins can become six-figure rarities in top grade.
6) 1897 Indian Head Penny (Proof) – $108,000
Why It’s Valuable: Proofs were struck in limited numbers for collectors. The 1897 Proof with Deep Cameo surfaces is one of the most valuable of the entire series.
- Proof PR-67+ DCAM: $108,000 (auction record, 2021)
Quick Fact: Proofs often show frosted devices against mirrored fields, making them stand out from circulation strikes.
7) 1869 Indian Head Penny – $84,000
Why It’s Valuable: Although over 6.4 million were minted, few survive in gem red condition.
- Circulated: $85–$250+
- Uncirculated (MS-60+): $1,000–$3,000+
- MS-66+ Red: $84,000 (auction record, 2019)
Collector’s Tip: Strike quality varies; the sharper the feather tips, the higher the premium.
8) 1871 Indian Head Penny – $60,375
Why It’s Valuable: With a low mintage of 3.9 million, the 1871 is a semi-key date. It becomes extremely rare in high grade.
- Circulated: $110–$350+
- Uncirculated (MS-60+): $1,800–$4,500+
- MS-66 Red: $60,375 (auction record, 2006)
Market Insight: Demand outstrips supply for this date in all grades.
9) 1873 Indian Head Penny “Open 3” – $54,625
Why It’s Valuable: The Open 3 variety is scarcer than the Closed 3 in top condition. This date is often overlooked, but it’s a big money coin at auction.
- Circulated: $40–$150+
- Uncirculated (MS-60+): $800–$2,000+
- MS-66 Red: $54,625 (auction record, 2007)
10) 1920-S Indian Head Penny – $35,938
(Correction: actually 1882, per video source)
Why It’s Valuable: The 1882 is a more common date overall, but in ultra-gem red, it’s one of the top condition rarities of the series.
- Circulated: $2–$10
- Uncirculated (MS-60+): $75–$200+
- MS-67 Red: $35,938 (auction record, 2005)
Indian Head Penny Value Chart
| Date / Variety | Circulated Value | Uncirculated Value | Auction Record |
|---|---|---|---|
| 1877 Key Date | $900–$2,500+ | $4,500–$100,000+ | $149,500 |
| 1909-S | $450–$1,200+ | $3,000–$97,000+ | $97,750 |
| 1864 “L on Ribbon” | $125–$400+ | $1,500–$90,000+ | $152,750 |
| 1872 | $100–$300+ | $1,500–$60,000+ | $126,500 |
| 1899 | $2–$10 | $60–$150+ | $108,000 |
| 1897 Proof | N/A | Proof Only | $108,000 |
| 1869 | $85–$250+ | $1,000–$50,000+ | $84,000 |
| 1871 | $110–$350+ | $1,800–$47,000+ | $60,375 |
| 1873 Open 3 | $40–$150+ | $800–$40,000+ | $54,625 |
| 1882 | $2–$10 | $75–$200+ | $35,938 |
How to Spot Valuable Indian Head Pennies
- Check the Date & Mintmark: 1877, 1909-S, and 1864 “L” are the most famous rarities.
- Color Matters: “Red” (RD) coins bring much higher premiums than red-brown (RB) or brown (BN).
- Look for Varieties: 1873 Open vs. Closed 3, and 1864 “L” on Ribbon are major value boosters.
- Condition Is King: Even common dates can bring five figures in MS-67 RD condition.
- Certification: For any coin over $500, PCGS or NGC grading is highly recommended.
What are the most valuable Indian Head Pennies?
The most valuable Indian Head Pennies include the 1877 key date, 1909-S, 1864 “L on Ribbon,” 1872, and high-grade examples of the 1899 and 1897 Proof issues. These coins have sold at auction for $100,000 to over $150,000, while circulated examples often bring hundreds or thousands.
What year is the most valuable Indian Head Penny?
The most valuable year is 1877, thanks to its low mintage and scarcity in all grades. Other highly valuable years include 1864 (“L on Ribbon”) and 1909-S, but the 1877 stands as the series’ key rarity.
What is the most valuable mint for an Indian Head Penny?
The San Francisco Mint produced the only S-mint issues in the series — the 1908-S and 1909-S. Of these, the 1909-S is by far the most valuable, with auction records near $100,000 in gem condition.
GoldSilverStacks Insights
The Indian Head Penny series is packed with numismatic treasures. From the legendary 1877 to overlooked gems like the 1899 in MS-68, these coins prove that both rarity and condition drive value. Collectors at every level can enjoy them — from affordable circulated coins to six-figure auction rarities.
