Coin Value Finder » 1904 Indian Head Penny Value: are “D”, “S”, No mint mark worth money?

1904 Indian Head Penny Value: are “D”, “S”, No mint mark worth money?

There aren’t enough 1904 Indian Head one-cent coins in circulation this century, but that makes it more sought-after. Although there are a few 1904 Indian Heads available for collectors, those in top quality are rarer.

Deciphering the difference between regular 1904 Indian Head cents and potential fortune-making coins takes skills. Here you’ll learn about the errors, varieties, value, and answers to your questions.

1904 Indian Head Penny Details

1904 Indian Head Penny Details

  • Category: Indian Head
  • Mint: Philadelphia
  • Mintage: 61,326,198
  • Observe Designer: James Barton Longacre
  • Reverse Designer: James Barton Longacre
  • Edge: Plain
  • Dollar Value: $3.00 and more
  • Melt Value: $0.0269
  • Composition: 95% copper, 2.5% zinc, and 2.5% tin
  • Diameter: 19mm
  • Fineness: 0.95
  • Weight: 3.11g
  • ASW: 0.1097 oz

Identifying a genuine 1904 Indian Head one-cent coin includes physical and scientific features. The obverse (top) of this coin has a young lady, Liberty, with a traditional red Indian headgear made of leaves hence its name – Indian Head.

The sculpted Head looks left with a string of pearls on the neck and “LIBERTY” written on the crown’s base. On the left side of the circumference, there’s an engraving of “UNITED STATES,” while the other end has “OF AMERICA,” and the base has 1904.

Look closely at the nape of her neck for the “L” in her hair representing the designer, James B. Longacre’s signature.

The coin’s reverse side has “ONE CENT” boldly engraved in the center, with the former atop the other. It’s heralded by a wreath of oak sprigs, three arrows tied with a ribbon at the base, and a shield on the top.

Both sides of the coin have ridges on the edge which adds to its beauty.

Unlike many other coins, the 1904 Indian Head one cent is made of French Bronze – a mixture of 95% copper while the remaining 5% is equal parts zinc and tin. The coin is 19.05mm wide and weighs 3.11g.

Here is a brief summary detailing the key features of the 1904 Indian Head coin.

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

1904 Indian Head Value Chart

Mint Mark Good Fine Extremely Fine Uncirculated
No Mint Mark Indian Head Penny $2.28 – $3.30 $5.13 – $6.64 $11 – $23 $42 -$160

$33,600 (rare)

1904 Proof Indian Head Penny $3.30 $300 $700 – $1,200 $6,400 – $29,900 (rare)
1904 Indian Head penny RPD FS-301 $3.30 $43 – $63 $$300 – $425 $500 – $550 (rare)
1904 Indian Head Penny Struck 10% off-center $3.30 $70 – $150 $500 – $515 $250

1904 Indian Head Value and Varieties Guides

The Numismatic (coin study/collection) and monetary value of a 1904 Indian Head coin differs due to their polarizing interests. Every coin element contributes to its market value, from its physical design to its errors and availability. See the chart above for a summary.

Many people know the 1904 Indian Head one-cent coin in the copper variation, but other die varieties were made from errors and on purpose. Errors occur when the basic steps necessary to produce a coin experience a glitch, from shifting planchets to messed up die.

Here’s a list describing and detailing the varieties of the 1904 Indian Head one-cent coin.

1904 Indian Head RPD Value

1904 Indian Head RPD Value

  • Type: Indian Head
  • Edge: Plain
  • Mint Mark: None
  • Place of Minting: Philadelphia
  • Year of Minting: 1904
  • Face Value: One Cent
  • Dollar Price: $3.30 or more
  • Quantity Produced: unspecified
  • Designer: James B. Longacre

1904 Indian Head coins used a striking technique where a device punched a planchet (blank plate) to engrave the words and numbers. However, some pieces came out with errors, like the RPD, which underwent re-punching.

Its secondary strike focused on the southeast end of the obverse by the 90 in 1904.

Hence the “4” in its “1904” has an extended apex than the rest of the numerals. It’s also one of the no-mint mark Indian Head pennies mass-produced with a circulation strike.

1904 Indian Head Proofs Value

1904 Indian Head Proofs Value

  • Type: Proof
  • Edge: Frosted
  • Mint Mark: “p” (sometimes)
  • Place of Minting: Philadelphia
  • Year of Minting: 1904
  • Composition: 95% copper, 2.5% zinc, and 2.5% tin
  • Diameter: 19mm
  • Mass: 3.11g
  • Thickness: 1mm
  • Face Value: $0.01 | one cent
  • Dollar Price: $1,920 – $29,900
  • Quantity Produced: 1,817
  • Designer: James B. Longacre

1904 Indian Head Proof coins had top-grade production giving their physical appearance clear and sharp details. Unlike regular mass-produced coins with circulation strikes, Indian Head proof coins tested die individually.

These proof coins came in matte, mirrored, and reverse proofs.

1904 Mirror-Like Proof Indian Head Pennies Values

1904 Mirror-Like Proof Indian Head Pennies Values

  • Type: Indian Head
  • Edge: Plain
  • Mint Mark: none
  • Place of Minting: Philadelphia
  • Year of Minting: 1904
  • Composition: 95% copper, 2.5% zinc, and 2.5% tin
  • Diameter: 19mm
  • Mass: 3.11g
  • Thickness: 1g
  • Face Value: one cent
  • Dollar Price: $39.95
  • Quantity Produced: unspecified
  • Designer: James B. Longacre

The 1904 Mirror-Like proof Indian Head pennies have a reflective finish made on a frosted device hence its name. Its mirror finish gives the coin a shiny glow colloquially called “Eye Candy” by enthusiasts.

1904 Reverse Proof Indian Head Value

  • Type: Indian Head
  • Edge: plain
  • Mint Mark: none
  • Place of Minting: Philadelphia
  • Year of Minting: 1904
  • Composition: 95% copper, 2.5% zinc, and 2.5% tin
  • Diameter: 19mm
  • Mass: 3.11g
  • Thickness: 1mm
  • Face Value: $0.01 | one cent
  • Dollar Price: $3.30
  • Quantity Produced: unspecified
  • Designer: James B. Longacre

The 1904 Reverse proof Indian Head penny is a blend of frosted field and a mirrored surface created with a unique tumbling technique. Rather than strike the planchet as mass-produced coin production does, reverse proof tumbles it in stainless steel balls.

That process transfers a shine onto the coin’s surface before rinsing off the excess and leaving the reflective look. After the liquid dries, the minter polished the remaining die with soft horse hair brushes before the frosting process.

The frosting part followed two techniques – manual or computerized. The older technique involved dressing the coin with pickled dye, while the digital style used a computerized laser machine to create the frosts.

Note that the digitally frosted coins have longer-lasting sheens than the acid-etched designs.

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

1904 Indian Head History

America included the Indian Head Penny into its currencies in 1859 and minted this design until 1909. James Barton Longacre designed the obverse and reversed sides of the coin as the Chief Engraver of the Philadelphia Mint during that period.

The myth around the Indian Head Penny design says Longacre used his daughter, Sarah, as the muse, while others believe it’s an Indian princess. Longacre first put his initials in the hair in 1864.

The 1904 Indian Head Penny gained popularity amongst collectors because it marked the beginning of the end for the design. The Lady Liberty sculpture on the 1904 one-cent coin is a younger version of the character.

During its circulation, the Philadelphia Mint ensured the 1904 Indian Head coins were perfect. Longacre ensured every piece had intricate detailing from the ridged circumference to the smooth plain edge and sculpted images on the obverse and reverse.

However, there’s a single error noted in the Cherry Picker’s Guide, which makes for the rarest variety of coins. Other slight errors occurred due to the techniques used in forging the 1904 Indian Head one-cent coin.

From a shifted planchet causing a missed strike to excess die on the surface, the 1904 Indian Head penny has interesting pieces. Unfortunately, this beauty didn’t last long as congress started a campaign for finer and newer coins.

That led to the gradual extinction of the 1904 Indian Head pennies as production was reduced to accommodate the new set. Since the design was heading towards a phase-out, its pieces became collectibles to preserve history.

There’s no uniform price for all the 1904 Indian Head pennies, as their features vary from coloring to quality. Scroll down to watch a grading tutorial.

1904 Indian Head Grading

Each variety of the 1904 Indian Head is worth a different amount based on its rarity and demand. Some of the coins have mint marks, while others have color grading from red (RD) to reddish-brown (RB) and brown (BN).

The scale grades from good (0) to uncirculated mint state (70), with 0 being the least and 70 being the highest.

List of 1904 Indian Head Penny Errors

Machines aren’t infallible, and that’s why the seemingly perfect 1904 Indian Head pennies produced some pieces riddled with errors. These mistake coins aren’t as many as other currencies. However, they exist, and that makes them in demand for numismatics.

Some common errors include wrong denominations, overlapping engravings, double dies, and damaged strikes. You’ll need a magnifying glass, coin microscope, or jeweler’s loupe to spot some errors.

These errors caused a stop in production in 1904, but today they’ve become collectibles.

Here’s what you’ll find with 1904 Indian Head pennies.

1. 1904 Indian Head Penny RPD FS-301 Error

1904 Indian Head Penny RPD FS-301 Error

The FS-301 Error is Indian Head pennies made with first-strike errors discovered within 30 days of production. These coins came out wrong due to mistakes in the dying stage when the hub strike shifted. It resulted in double-digits on the dating numbers 9, 0, and 4.

Upon discovery, the minting facility recalled the coins and logged their existence in a book before re-punching them with the correct elements.

You’ll see “RPD” on the pack holding the coin referencing the re-punched dates while the etching, FS-301, marks the 1904 overlaying error.

2. 1904 Indian Head Penny Off-Center Error

1904 Indian Head Penny Off-Center Error

1904 Indian Head pennies produced from unsecured planchets resulted in off-mark strikes. Hence, the coin’s elements didn’t turn out perfectly. Instead, it came out with partially unmarked coins due to the off-center planchet first strikes.

1904 Indian Head Penny FAQs

What is the value of a 1904 Indian Head Penny?

On face value, the 1904 Indian Head coin is worth one cent ($0.01), but its numismatic value varies depending on each coin’s features. An average 1904 Indian Head penny is worth $3.30, but rare pieces were sold at auction for tens of thousands of dollars.

In August 2019, a Mint State red-colored 1904 Indian Head Penny sold at Heritage Auctions for $33,600. It holds the record as the highest value realized for this coin type.

Are Indian Head Pennies Lucky?

Indian Head Pennies are rare coins because they were phased out in 1909, and people consider them lucky. Also, the sculpting of Lady Liberty on the obverse signifies luck for the native Indians who inhabited the American territory before Christopher Columbus’ expedition.

What is a 1900 Indian Head?

The 1900 Indian Head coin is a blend of the 1890s design and the short-lived 1900 pieces, which ended in 1909. Every Indian Head penny is worth more numismatically than its face value due to its rarity and detailed design.

What is the most Valuable Indian Head Penny?

The 1877 Indian Head Penny is the most valuable variety of this coin type, as an average piece sells for $1,000 to $1,200, and an uncirculated mint state piece is worth $4,2000 to $5,000. You can get $1,700 to $2,200 for a Fine or a Very Fine 1877 Indian Head coin.

An Extremely Fine (EF) to Almost Uncirculated (AU) could fetch you $2,700 to $3,400.

4 thoughts on “1904 Indian Head Penny Value: are “D”, “S”, No mint mark worth money?”

  1. I have a 1904goldindian headpenny in good shape if Amy one is interested for sale make offer as I know nothing about it

    Reply
  2. Hello I have a 1904 Indian Peeny with no mint mark DDO ON THE 1-0-4 AND A – L – ON THE RIBBON DOES it should have one or not

    Reply
  3. Hello I have a 1904 Indian Penny with no mint mark DDO ON THE 1-0-4 AND A – L – ON THE RIBBON DOES it should have one or not

    Reply
  4. i’ve had a silver 1904 Indian Head penny for years..its in great condition..wanted to know how much its worth..
    also have a 1906 Indian Head penny..color is what is explained in this article..

    Reply

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