If you have an 1877 Indian head penny in your possession, you are in for a treat! This amazing coin is one of the most extraordinary and widely sought-after coins among collectors. It has a rich history, interesting features, and its rarity makes it highly valuable.
In this blog post, we will explore the 1877 Indian head penny value based on its condition—from Good to Fine to Extremely Fine to Uncirculated—and discuss its history, its distinct features, and also how to identify an 1877 Indian Head penny error coin.
Whether you are looking for information about this penny as a collector or just curious about its value, this blog post can help answer your questions!
Ready to learn all about the 1877 Indian head penny value? Let’s get started!
1877 Indian Head Penny Details
- Category: Indian Head Penny
- Mint: Philadelphia
- Total mintage: 852,500
- Obverse designer: James B. Longacre
- Reverse designer: James B. Longacre
- Edge: Reeded
- Diameter: 19 millimeters (0.7536 inches)
- Thickness: 2.9 millimeters (0.09 inches)
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 grams
The 1877 Indian head penny is considered to be one of the most iconic coins in U.S. history largely due to its rarity.
Measuring 19 millimeters in diameter, this iconic coin is equal to 0.75 inches in size. This makes it slightly smaller than the modern US penny which measures 19.05 millimeters in diameter or 0.7536 inches across.
Designed by James B. Longacre, the coin features an obverse (front) design of Lady Liberty wearing a Native American war bonnet, surrounded by the words “United States of America” and the year “1877”. It features a reverse (back) side featuring the words “One Cent” with a shield above it and a plush wreath surrounding it.
You will also discover a beautifully reeded edge on both sides, which is believed to have provided additional anti-counterfeiting security measures during that time period. This also made it easier for people to distinguish between denominations when collecting them or passing them through circulation.
1877 Indian Head Penny Value Chart
|Mint Mark||Good||Fine||Extremely Fine||Uncirculated||Proof|
|1877 No Mint Mark Indian Head Penny||$1,028||$1,765||$2,810||$5,126||$2,962|
1877 Indian Head Penny Value and Varieties Guide
1877 (P) No Mint Mark Indian Head Penny Value
- Type: Indian Head Penny
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1877
- Face value: $0.01
- $ price: $1,028 to $5,126
- Quantity produced: 852,500
- Designer: James B. Longacre
The 1877 Indian head penny is an important part of numismatic history, and its value is determined by a combination of its condition, rarity, and design.
Interestingly enough, the Philadelphia location was the only US Mint location where the 1877 Indian head penny was produced. Most United States Mint locations have an initial that they stamp onto the coins that they mint, so that people will know the maker; for example, coins with an “S” were minted in San Francisco. However, this isn’t the case with Philadelphia, which actually has no mint mark – even to this day.
To make the coin even more interesting, there were only 852,500 of them minted that year! That is an extremely small amount, considering there are usually millions of pennies minted every year at multiple US Mint locations. The times were really hard that year and so they produced one of the smallest amounts of Indian head pennies ever.
As such, 1877 Indian head pennies are quite rare today and highly sought after by collectors for their historical significance and quality aesthetic; making them some of the most valuable pennies among numismatists who are able to add this piece to their collections!
When it comes to 1877 Indian head penny value, there are several factors collectors need to consider when determining the worth of any given penny depending on its condition. The condition of the coins ranges from “Good” to “Fine” to “Extremely Fine” to “Uncirculated” grades.
- A coin in “Good” condition will show signs of wear and tear, but all major design details should still be visible. Coins in this condition are worth an impressive $1,028 USD.
- Coins in “Fine” condition have minimal wear, with full details and some luster still visible are worth $1,765 USD.
- 1877 Indian head pennies in “Extremely Fine” condition will show only a few signs of wear, but all major design elements should be well defined and the coin may even look nearly uncirculated – these coins can fetch prices up to around $2,812 USD or more for higher grade specimens.
- 1877 Indian head penny value is highest for those minted in “Uncirculated” condition, meaning that no wear has been inflicted on the coin since its initial production. This makes them rarer than other coins and they can fetch prices up to a whopping $5,126 USD for a grade 63. However, if their grade is even higher than that, or if there is a bidding war at an auction, these little bronze coins have been known to sell for six figures!
- The 1877 Indian head proof penny is even more rare, as very few were made. A proof penny is struck in a special process to give the coins an extra shine and mirrored surface. 1877 Indian Head penny values for these pieces can be around $2,962 USD.
History of the 1877 Indian Head Penny
It was first minted in 1877 by the United States Mint at Philadelphia and was the second penny design by James B. Longacre, who had been appointed as Chief Engraver at the US Mint in 1844 and worked there until he died. Until the American Civil War, the Indian head penny was produced in cupronickel (a combination of copper and nickel) and was then replaced with bronze (which is copper, tin, and zinc). Thus, the 1877 Indian head penny was produced with 95% copper and 5% tin and zinc and weighed 3.11 grams.
The 1877 Indian head penny is not only an attractive piece of currency but it also carries with it so much history and nostalgia that it truly stands out as one of the most iconic coins from American numismatics. It’s sure to be a great investment piece for any coin collector looking to add something unique and valuable to their collection.
1877 Indian Head Penny Grading
Grading a 1877 Indian Head penny is an important part of determining its value. This is because the condition of the coin is a major factor that affects 1877 Indian head penny value and can significantly influence how much a collector can get for it when they decide to sell or trade it.
The 1877 Indian head penny is graded on a scale from “Good” to “Fine” to “Extremely Fine” to “Uncirculated”. Having an experienced coin dealer or grader evaluate the 1877 Indian head penny is the best way to accurately determine the grade of the coin and therefore its value. However, those just starting out with 1877 Indian head penny collections may want to learn how to grade coins themselves.
When grading, collectors should first examine the obverse side (front) of the coin and look for any signs of wear or damage that could affect the 1877 Indian head penny value. If all major design elements on this side are fully visible and well defined, then it would generally classify as being in “Extremely Fine” or “Uncirculated” condition. However, if significant signs of wear and discoloration are present then it would likely fall into either “Good” or “Fine” condition depending on its overall appearance.
It should be noted however that even coins labeled as uncirculated can still show slight imperfections such as contact marks from minting processes, so finding truly perfect uncirculated examples can be difficult and command very high prices from collectors who are lucky enough to have them in their collections!
1877 Indian Head Penny Errors
1877 (P) No Mint Mark Indian Head Penny Obverse Struck Through Grease Error
In addition to the 1877 Indian Head penny value, collectors should also be aware that there are some 1877 Indian head pennies that exist with errors or anomalies which can greatly influence their rarity and value.
Some of these coins may be extremely valuable due to their rarity and the fact that they help tell the story of the 1877 Indian head penny’s history! It is important for budding 1877 Indian head penny collectors to learn how to spot these errors as it could make a big difference in a coin’s overall 1877 Indian head penny value when it comes time to trade or sell them.
The main example of an error Indian head coin from 1877 is the one with a strike through grease error on the obverse side. This error was caused when the die which struck the obverse side of the 1877 Indian head penny had grease or debris on it at the time of striking.
One of these pennies with a grade of 35 BN (brown) – which isn’t very high – sold for an amazing $1,100 at auction recently! This goes to show that the 1878 Indian head penny doesn’t have to be in great condition in order to sell well. Another example of this penny error (with a grade of Almost Uncirculated 53) sold at auction for $2,340!
1877 Indian Head Penny Frequently Asked Questions
Now that you know some of the basics about 1877 Indian head penny value and errors, here are some frequently asked questions that collectors should be aware of:
Should I Clean My 1877 Indian Head Penny Before Getting it Appraised?
The answer to cleaning your own coins is almost always a definite no. Most people do not know what they are doing and so cleaning your 1877 Indian head penny is not recommended as it can significantly reduce its value. This is because cleaning causes some of the original details and materials on the coin to be removed and thus reduces its grade – therefore bringing down its overall 1877 Indian head penny value.
Are 1877 Indian Head Pennies Rare?
Yes, 1877 Indian head pennies are considered rare due to their age and the fact that there were only a certain number of them ever made – only 852,500 Indian head pennies were produced in the year 1877. Therefore, the 1877 Indian head penny value is very high for coins in all conditions. As such, these coins can usually command high prices when traded or sold.
Are 1877 Indian Head Pennies Valuable?
Yes, 1877 Indian head pennies can be valuable depending on their grade and condition. Coins in better condition are usually more valuable than those which have seen a lot of wear and tear over the years. 1877 Indian head penny errors can also command high prices due to their rarity, so it is important for collectors to be aware of these as well.
What is the Record Selling Price for an 1877 Indian Head Penny?
The record selling price for an 1877 Indian head penny was over $149,500 in 2007! This particular coin was graded as being in Mint State Uncirculated 66 RD (red) condition, meaning that it was extremely well preserved and had almost no wear or discoloration present on the coin itself. This is an excellent example of why the 1877 Indian head penny value can be so high for the most well-preserved examples of this coin.
All in all, this coin is not only striking in its design but also it is amazing to behold because of its history and rarity.
Of course, just like any coin, the 1877 Indian head penny value can vary depending on its particular condition and errors, but ultimately, these coins are exceedingly rare and can bring in a ton of money no matter which one you get.
If you find one of these in your collection, you should count yourself extremely lucky! Now the biggest decision will be to decide if you sell it for thousands of dollars or if you proudly display it under glass on your shelf!
Do you have an 1877 Indian Head penny in your possession? What do you plan to do with it? We’d love to hear from you in the comments below!