Coin Value Finder » 1902 Indian Head Penny Value: are “Red”, “Brown” worth money?

1902 Indian Head Penny Value: are “Red”, “Brown” worth money?

Are you looking for a 1902 Indian Head penny to complete your collection? Well, we’re glad you have found us.

For centuries, the US mint has produced several attractive and valuable coins. But only a few coin series can match the beauty and uniqueness of the Indian Head penny.

The 1902 Indian Head penny is arguably one of the most popular and highly sought-out coins by numismatics. Sure! It’s a small coin, but it embodies 19th-century American history and the country’s cultural diversity.

This piece explores the design details, value, history, and other aspects of the 1902 Indian Head penny. By the end of the article, you will have a better understanding of this coin, its value, and its significance.

1902 Indian Head Penny Details

1902 Indian Head Penny Details

  • Category: Indian Cents
  • Mint: Philadelphia
  • Mintage: 87,374,704
  • Designer: James B. Longacre
  • Metal Composition:95% Copper, and 5% Tin
  • Fineness: 95
  • Diameter: 19mm
  • Weight:11g
  • ASW:  0.6oz
  • Edge: Plain

The 1902 Indian Head Penny is an iconic coin with stunning features.  Here, we will discuss the various design details of this valuable coin.

The Obverse

The Obverse

At first glance, you might assume the 1902 Indian Head Penny depicts a Native American in a Headdress. But that’s not the case! The image on the coin is a portrait of Lady Liberty wearing a full Native American Headdress, instead of her usual spikey crown.

As you might have thought, the coin’s obverse (heads) design stirred some controversy. In fact, Mint Director James Ross Snow said the artists of the coins failed to realize the “absurd incongruity” of placing an attribute of a brave warrior on the head of a woman.

At first, Snowden suggested the head of Columbus as an obverse design. But Chief Engraver James Barton Longacre believed the public will disapprove of a historical figure on an American coin.

Despite his reservations, the director chose Longacre’s penny design for the striking. Compared to other penny design options, Longacre’s had the lowest relief and could strike well. Today, the coin ranks as one of the most popular coin series.

That said, there are other features on the obverse side worth noting. For instance, the word LIBERTY is engraved on the band of Lady Liberty’s headdress. Around the periphery, you will notice the words “United States of America” inscribed. On the other hand, the production date falls at the bottom, under the portrait.

The Reverse Side

The Reverse Side

As for the reverse side (tails), the 1902 Indian Head Penny bears the domination of ONE CENT encircled by a wreath of laurel.

While the laurel leaves design offered the flattest profile for striking Indian Head Pennies, it later got replaced. The new design featured the ONE CENT denomination in the center, surrounded by a wreath of oak leaves and a cluster of arrows. A shield with six vertical and seven horizontal stripes appeared on top of the wreath.

Although the director did not explain this change, coin enthusiasts speculate the oak leaves represented strength and freedom. No matter the reason, the new Indian head penny design lasted for many years and appeared in subsequent coins, including the 1902 penny.

Additional 1902 Indian Head Penny Features

Although the 1902 Indian Head Pennies got produced the same way, they aged differently. These pieces are made from 90% copper, which undergoes natural oxidation, forming different patina types.

Patina refers to a thin layer of oxide that forms on the coin’s surface. The layer protects the penny from further corrosion and lends it a distinct appearance.

The 1902 Indian head penny comes in three patina types: Red, Red Brown, and Brown. Red patina is the most desired by coin collectors, while brown is the least.

Also Read: Top 15 Most Valuable Indian Head Penny Worth Money

1902 Indian Head Penny Value Chart

  Condition of Coin
  Good Fine Extremely Fine Uncirculated
1902 no mint mark Indian Head Penny $2.2 $5 $11 – $15 $31
  Grade
Color MS 60 MS 61 MS 62 MS 63 M64 MS 65 MS 66 MS 67
1902 Indian Head Penny Red Patina $65 $70 $74 – $85 $130- $160 $250 – $300 $675 $2,100 $20,000
1902 Indian Head Penny Red Brown Patina $55 $60 $65 – $67 $75 – $85 $115 – $135 $300 $550 n/a
1902 Indian Head Penny Brown Patina $50 $55 $60 – $62 $65 – $70 $90 – $100 $150 $500 n/a

1902 India Head Penny Value and Varieties Guide

In 1902, the mint facility in Philadelphia produced all 87,374,704 Indian head pennies. As a result, the coins had no mint mark. However, the lack of a mint mark doesn’t make these pennies any less valuable.

While some numismatics might prefer coins produced in a specific city, the 1902 Indian head penny remains highly sought out. Below, we have highlighted the various varieties of this penny and their values:

1902 Red Indian Head Penny Value

  • Type:  Indian Head Pennies
  • Edge: Plain
  • Mintage: 87,374,704
  • Mint Mark: No Mint Mark
  • Year of Minting: 1902
  • Place of Minting: Philadelphia
  • Face Value: 1 Cent
  • Color: RB – Red
  • $ Price: $2 to $20,000
  • Designer: James B. Longacre

Newly minted 1902 Indian head pennies had a red hue. But it was difficult to maintain the coins in this state for long.

As said earlier, the 1902 penny was made from 95% copper. Over time, this metal undergoes oxidation, producing a brown patina. As such, there are very few red 1902 Indian head pennies remaining, making them extremely valuable.

Red pennies in the MS 60 grade can cost anywhere from $60 to $65. The value increased to $130 for pieces in MS 63 and $675 in MS 65 grade.

Red pennies at MS 67 can be worth $2,100 to $13,000. Coins in higher grades with pristine conditions can reach $20,000 and sometimes $125,000 each.

1902 Red and Brown Indian Head Penny

1902 Red and Brown Indian Head Penny

  • Type:  Indian Head Pennies
  • Edge: Plain
  • Mintage: 87,374,704
  • Mint Mark: No Mint Mark
  • Year of Minting: 1902
  • Place of Minting: Philadelphia
  • Face Value: 1 Cent
  • Color: RB – Red and Brown
  • $ Price: $2 to $550
  • Designer: James B. Longacre

Red and brown tones mean the penny underwent better conservation. These coins usually cost more than their brown counterparts.

Reddish brown 1902 Indian head pennies in MS 60 grade can fetch at least $55. But in MS 65, the values triple and can range from $215 to $350.

A red and brown Indian penny at MS 66+ is extremely rare and can be worth $500 to $1000.

1902 Brown Indian Head Penny Value

1902 Brown Indian Head Penny Value

  • Type:  Indian Head Pennies
  • Edge: Plain
  • Mintage: 87,374,704
  • Mint Mark: No Mint Mark
  • Year of Minting: 1902
  • Place of Minting: Philadelphia
  • Face Value: 1 Cent
  • Color: BN – Brown
  • $ Price: $2 to $500
  • Designer: James B. Longacre

Unlike the red pennies, brown pieces spent time in circulation. That means they were constantly exposed to oxygen and other elements, like humidity.

Brown 1902 Indian head pennies, in extremely fine condition, cost around $20. These coins often feature minor scratches and cracks on the surface.

But if you get an uncirculated brown penny in mint state 60 (MS 60), it can be worth $50 or more. At MS 65, the price of the piece can reach $150. A finer quality coin graded at MS 66 can go for as much as $340 to $500.

The most valuable brown 1902 Indian head penny sold for around $4,000 in an auction in 2001. It has a mint state grade of 60.

1902 Proof Indian Head Penny Value

1902 Proof Indian Head Penny Value

  • Type:  Indian Head Pennies
  • Edge: Plain
  • Mintage: 2,018
  • Mint Mark: No Mint Mark
  • Year of Minting: 1902
  • Place of Minting: Philadelphia
  • Face Value: 1 Cent
  • $ Price: $160 to $5,500
  • Designer: James B. Longacre

Besides regular Indian head pennies, the Philadelphia mint facility produced 2,018 proof coins in 1902. Unlike regular circulating coins, 1902-proof Indian head pennies were designed for collectors and have a much higher striking quality.

And since the mint facility only minted a few coins, they are super rare. Brown-proof pennies graded at proof (PR) 62 typically cost $160. Those in grade PR67 and above can sell for $2,650.

Reddish brown pennies in PR61 are worth $160, while those in PR67 sell for $5,500. The prices become more interesting for red-proof coins. Those in extra fine conditions can fetch up to $40,000.

Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)

1902 Indian Head Penny History

From 1793 to 1857, the U.S. one-cent coin was about the size of half a dollar. However, the sudden increase in gold led to an increase in the price of copper. As a result, the cost of making copper coins skyrocketed.

To address this situation, the U.S. mint stopped the production of half-cent pennies. They also reduced the size of the cent and changed its composition to 88% copper and 12% nickel. This move gave rise to the Flying Eagle coin, the first American copper-nickel coin.

However, the Flying Eagle design proved difficult to strike, and only 2,000 specimens got minted. After only two years, this coin got replaced by the Indian Head Penny designed by James Barton Longacre, the Mint’s Fourth Chief Designer or Engraver.

The Mint Director James Snowden settled for the new coin design and chose a laurel wreath for the reverse side. In 1860, the Indian Head Penny underwent a design change and its reverse featured a shield and oak wrench, plus three arrows.

The Indian head penny comprised 88% copper and 12% nickel and weighed 4.67 grams (0.16473 ounces). But most people hoarded these pennies because of the nickel shortage during the American Civil War. As a solution, the mint changed the composition of the penny to 95% and 5% tin, reducing its weight to 3.11g (0.10970 ounces).

After the war, the penny became incredibly popular, and the mint facility increased its production. The demand for coins increased even further with the introduction of coin-operated gambling machines in the late 19th and early 20th centuries.

In 1908, the legislation limited the production of Indian head pennies to the Philadelphia mint. Therefore, all the 1902 pennies got struck in Philadelphia, Pennsylvania.

However, these coins got replaced in 1909 by the Lincoln cent. Designed by Victor D. Berner, the new cent marked the 100th year since the birth of Abraham Lincoln.

1902 Indian Head Penny Grading

Most times, you will see the 1902 Indian Head Pennies graded according to their colors.

  • RD:  Red pennies
  • RB: Red and brown or Reddish-Brown pennies
  • BN: Brown pennies

Alternatively, these coins can get classified based on their condition:

  • Uncirculated: These 1902 Indian head pennies never circulated. They still maintain their original bright mint luster on the surface.
  • Extremely fine: The coin might show a small amount of wear and flattening. But besides that, it’s still in excellent condition.
  • Fine: Coins in fine condition have been in circulation for some time and might show signs of wear on different parts, including Lady Liberty’s neckline and headband.

1902 Indian Head Penny Error

The Philadelphia mint didn’t make lots of errors while producing the 1902 Indian head pennies. Nevertheless, there are a few rare flaws that can boost the price of your penny.

1. 1902 Indian Head Penny Displaced Minting

1902 Indian Head Penny Displaced Minting

Displaced minting is a valuable error that delights most coin collectors. The error occurs when a 1902 Indian head penny gets minted incorrectly. As a result, the design appears displaced from its original location.

In most cases, the coin might feature only a slight deviation. But sometimes, the design misplacement can be greater than 50%.

2. 1902 Indian Head Penny Die Gouge Error

1902 Indian Head Penny Die Gouge Error

Another error worth checking out is the die gouge error. The error results when a coin gets struck from a faulty die. For instance, if a die has a scratch or misses a part, the struck coin might feature a raised area that corresponds to the gouge on the surface of the die.

You can easily spot this error in Lady Liberty’s eye. It usually appears like a thick line running diagonally across the bottom lid of the eye.

The cost of the penny with this error depends on its condition. A good brown 1902 Indian head penny can cost $10. But red coins in MS 63 grade can reach upwards of $750.

3. 1902 Indian Head Penny Double Struck Error

The double-struck error occurs when a penny is not fully ejected from between the dies after being struck. When this happens, the coin can get struck for the second time, resulting in a partial imprint of the coin over the previously struck design.

In this video, we see an example of a 1902 Indian head penny with a double-struck error that sold for a whopping $650.

1902 India Head Penny FAQs

How Much Is A 1902 Indian Head Penny Worth?

Since most 1902 Indian head pennies are heavily worn out, they can cost anywhere an average of $3.30. However, well-maintained or good-quality coins can go for $42 or $63. Uncirculated mint state and proof 1902 pennies can even cost more, with some selling for $150 to $1000.

What Makes The 1902 Indian Head Penny Rare?

A 1902 Indian head penny in pristine condition is valuable since most Indian head pennies are worn out or damaged. Also, these coins come in different hues, with brown being the most common and red the rarest. However, they are some red and brown coins valued and appreciated among collectors. Besides, some 1902 pennies have unique errors, like displaced minting and double struck, which increase their value significantly.

Should you clean a 1902 Indian Head Penny?

Under no condition should you clean your Indian head penny. Whether it is a rare red penny or a regular brown penny, it’s best to live it in its natural state. Cleaning will only reduce its value and damage the coin.

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