The Indian Head Penny is a one-cent coin minted in the United States between 1859 and 1909. The 1903 Indian Head Penny holds an important place in American numismatic history—it was the first U.S. penny to feature the portrait of an American Indian on its obverse side.
These coins are highly sought after by collectors due to their exquisite design, rarity, and historical significance. This article will examine the details of the 1903 Indian Head Penny and explain its value chart, grading, and varieties.
We will also provide a brief overview of its chronology and cover some common errors that may occur during evaluation.
1903 Indian Head Penny Details
- Category: Indian Cents
- Mints: Philadelphia (No Mint mark)
- Total mintage: 85,092,703
- Obverse designer: James Barton Longacre
- Reverse designer: James Barton Longacre
- Edge: Plain
- Diameter: 19mm
- Thickness: 1.55mm
- Composition: 95% copper, 5% tin & zinc
- Weight: 3.11 grams
The 1903 Indian Head Penny is an iconic coin from American history and is a beloved coin for collectors. It is a beloved collectible for coin enthusiasts around the world. With its beautiful Liberty head design created by artist James Barton Longacre, this coin is a must-have for any coin collection.
Obverse Design
The obverse of the 1903 Indian Head Penny features a left-facing portrait of Lady Liberty with feathers in her hair. She is wearing a traditional Native American headdress. The words “UNITED STATES OF AMERICA” are inscribed along the top of the coin. The year of mintage, “1903”, is inscribed below Lady Liberty. The portrait of Liberty on the obverse is a classic example of Longacre’s signature detailed and highly intricate work.
Reverse Design
The reverse of the 1903 Indian Head Penny features a wreath of wheat, cotton, and corn. In the center of the wreath is an olive branch with a shield on top. The words “ONE CENT” are inscribed inside the wreath.
The 1903 Indian Head Penny is 19mm in diameter and 1.55mm thick, with a weight of 3.11 grams.
The composition of the 1903 Indian Head Penny is 95% copper and 5% tin and zinc. This unique combination of metals gives the coin a distinctive look that stands out from other coins in circulation at the time.
The 1903 Indian Head Penny is significant for a variety of reasons. It was minted during a time of great progress in the United States. The Industrial Revolution was in full swing which saw rapid growth in technology, industry, and transportation. It is also a reminder of the peaceful relations between Native Americans and the settlers during this time period.
The 1903 Indian Head Penny is a highly sought-after collectible, and its value varies depending on its condition. A pristine example of this coin can fetch thousands of dollars at auction, while a circulated example can be purchased for much less.
It is still possible to find 1903 Indian Head Pennies in circulation, although they are becoming increasingly rare as more and more collectors recognize their value.
Also Read: Top 15 Most Valuable Indian Head Penny Worth Money
1903 Indian Head Penny Value Chart
| Color | Extremely Fine (XF45) | Uncirculated (MS65) | Uncirculated (MS66) |
| Red 1903 Indian Head Penny | N/A | 750 USD | 1,850 USD |
| Red and Brown 1903 Indian Head Penny | N/A | 275 USD | 1,250 USD |
| Brown 1903 Indian Head Penny | 20 USD | 150 USD | 550 USD |
Varieties and Values Guide for the 1903 Indian Head Penny
1903 (P) Red Indian Head Penny Value
- Designer: James Barton Longacre
- Edge: Plain
- Type: Indian Head Penny
- Mint Mark: none (Philadelphia Mint)
- Price: Approximately $110 – $20,000
- Year of Minting: 1903
- Place of Minting: Philadelphia, PA
- Face Value: 1 Cent
- When it comes to the 1903 Red Indian Head Penny, is one of the rarest and most sought-after coins in the world. When handled, it is believed to be uncirculated due to its color changing over time.
For example, a 1903 Red Indian Head penny graded MS62 is valued at $110, while an MS67+ is worth an impressive $20,000.
Prices can also jump between grades, with an MS66 valued at $1,850 while an MS66+ is valued at $2,500. This coin’s value is expected to keep increasing as its rarity and historical significance makes it increasingly desirable.
Three coins are graded MS67+, making them the highest grade of this coin type and extremely difficult to find. In fact, recently, one such coin sold for an astonishing $15,000 in 2021.
1903 (P) Brown Indian Half-Penny Value
- Designer: James Barton Longacre
- Edge: Plain
- Type: Indian Head Penny
- Mint Mark: none (Philadelphia Mint)
- $ Price: $20 to $550
- Year of Minting: 1903
- Place of Minting: Philadelphia, PA
- Face Value: 1 Cent
The Brown Indian Half Penny is a rare and valuable coin minted in 1903. This historic coin is sought after by both collectors and investors alike, with those in the highest grades being highly prized among coin enthusiasts.
Most of these coins are brown in appearance and are generally more affordable than other Indian Head pennies from this mintage. This penny is professionally graded as Extremely Fine (XF45) by the PCGS and valued at around $20.
A Mint State (MS60) brown Indian Head Half Penny from this mintage is worth approximately $54, with a Gem Quality MS65 example increasing in value to around $150.
Coins of the highest quality, graded MS66, are scarce and valued at about $550. With its rarity and historical significance, this coin’s value is expected to continue appreciating over time.
1903 (P) Brown and Red Indian Head Penny Value
- Designer: James Barton Longacre
- Edge: Plain
- Type: Indian Head Penny
- Mint Mark: none (Philadelphia Mint)
- Price: Approximately $75 – $1250, depending on the condition
- Year of Minting: 1903
- Place of Minting: Philadelphia
- Face Value: 1 Cent
- 1903 (P) Brown and Red Indian Head Penny is another highly sought-after coin for collectors. It is one of the middle-range collectibles from this series, with population and values only recorded for coins of the uncirculated grade.
The Red and Brown version of the 1903 Indian Head Penny is considered more desirable than its counterpart, the Red version.
The dark brown color seen on this coin has been made by a chemical reaction that occurs when copper interacts with oxygen over many years, making it rarer to find in this state. The values for this coin are highly dependent on its grade.
In an MS62 (Mint State 62) grade, 1903 (P) Red and Brown Indian Head Penny is worth approximately $75. An MS65 (Mint State 65) graded coin is typically valued at around $275, while a higher MS66+ (Mint State 66+) grade version is valued at approximately $350.
This penny’s absolute highest grade, MS66 (Mint State 66), can be worth up to $1,250 since it is almost impossible to find a coin in such pristine condition.
1903 (P) Proof Indian Head Value
- Designer: James Barton Longacre
- Edge: Plain
- Type: Indian Head Penny
- Mint Mark: none (Philadelphia Mint)
- Price: $130 to $16,000
- Year of Minting: 1903
- Place of Minting: Philadelphia, PA
- Face Value: 1 Cent
1903 (P) Proof Indian Head Penny was explicitly created for collectors, and only 1,790 pieces were minted by the Philadelphia Mint.
This proof version of the Indian Head penny comes in three colors – red with some classified to be “cameos”, red and brown, and brown.
The Proof 1903 (P) Indian Head Penny is of great value to collectors and investors due to its limited mintage.
The lowest grade of this coin is Proof-60, and it would be valued at approximately $130. The finest grade is a red-proof, graded PR68 valued at roughly $16,000.
The most valuable 1903 (P) Proof Indian Head Penny is a cameo-graded PS67, estimated to be around $15,000. The cameo is the rarest of all 1903 (P) Proofs, with only three examples.
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
1903 Indian Head Penny History
The Indian Head Penny was designed by James Barton Longacre. It replaced the Flying Eagle Cent, which had been in circulation since 1856.
The Indian Head Penny was minted in Philadelphia with no mint mark and featured an obverse side that showed a profile portrait of an American Indian with the word “LIBERTY” written across the top of the coin.
The reverse side featured a shield surmounted by an eagle and inscribed with the words “ONE CENT”, along with the year of mintage.
The Indian Head Penny was in circulation for fifty years, ending production in 1909. In total, over 85 million 1903 Indian Head Pennies were minted, with the majority of them being circulated. Approximately 1 in 3 coins minted for circulation survive and remain as collectible specimens today.
The 1903 Indian Head Penny has become an essential part of US numismatic history and is a necessary coin for collectors and investors.
It is an excellent example of the quality minted coins put out by the US government and its long-standing dedication to excellence in coinage. Its limited mintage makes it a rare find and an essential part of American history.
1903 Indian Head Penny Grading
Like all coins, the condition of a 1903 Indian Head Penny can vary from Good to Very Fine and even Uncirculated.
The coin’s grade will determine its value, with higher grades being more desirable and valuable than lower grades. Officially judging coins is best left to professionals, as many factors come into play when determining the grade of a coin.
Professional coin grading services use a 70-point numerical scale from 1 (Poor) to 70 (Mint State). The higher the grade, the higher the price and value of the 1903 Indian Head Penny.
1903 Indian Head Penny Errors
1. 1903 Double Struck Flipover
Flipover Double Struck coins were struck twice in the same press, with both strikes ending up on the same side of the coin. The first strike will usually be off-center and slightly rotated.
The second strike is usually centered and aligned correctly with the dating side. This type of error can result from a stuck die or a malfunctioning press and is quite rare.
1903 Indian Head Pennies with Flipover Double Struck errors have been sold at auction for a price of $275, despite the coin only being graded VG8 and having a brownish tinge.
2. 1903 Broad Struck Error
Broad-struck coins have an irregular shape and no reeding on their edges due to being struck outside the pressed collar.
The surface of these coins is usually slightly concave or convex, depending on which side was struck first.
1903 (P) Indian Head Broad struck Error is a highly sought-after error and can be worth quite a premium even in lower grades. An example of this type of error recently sold for $55.
3. 1903 (P) Indian Head Cent Off-center Strike
This 1903 Indian Head Cent is an off-center strike or a second strike that is slightly off-center. It appears that the first strike was centered, but then it was struck again while slightly off-center.
The image of Liberty’s head remains clear and sharp despite being somewhat off-center.
This type of error is less common and valuable than other errors and can be worth a few hundred dollars depending on the degree of off-centering and other factors.
This particular coin is an exciting addition to any collection as it displays a unique minting error caused by an operator’s misjudgment. It would be a great conversation piece for any collector or numismatist.
1903 Indian Head Penny FAQs
How much is a 1903 Indian head penny worth?
The value of a 1903 Indian head penny depends on its grade and condition. Most circulated examples are valued between $3 and $4. Uncirculated specimens may be worth up to $63 or more. Errors and varieties can bring even higher prices.
What makes a 1903 Indian head penny rare?
A 1903 Indian Head penny is considered rare due to its market scarcity. There were only 85 million coins minted in 1903, making them much rarer than other dates.
The condition of a 1903 Indian Head penny can also significantly affect its value. Coins in higher grades are worth more than those in lower grade conditions due to their superior eye appeal and rarity.
As such, coins with any type of discoloration, scratches, or damage can significantly reduce the coin’s value. Lastly, minted coins in Philadelphia are more desirable than those from other locations, thus making them scarcer and more valuable.
What is the rarest Indian head penny worth?
The rarest Indian head penny is the 1877 Indian Head penny, worth between $4,200 and $5,000. This coin was only produced in limited quantities and has become highly sought after over time due to its scarcity.
Other rare examples include the 1871 Shallow N, with values ranging from $850 to $1,000, and the 1909-S Indian Head penny worth between $1,100 and $1,200. These coins are rarer than Indian head pennies and can be highly valuable to collectors.
Hello I have a 1903 Indian head Penny I’m trying to find out the value of it its a brown one
I have 2 red 1903 pennies. WHat are they worth?