One variety has a more open 3 in the date while another has a closed 3, but those variations won’t affect the coin price. Thanks to using two different varieties of the number 3 during engraving, you can notice two types of the date on coins minted in 1873. 1873 Indian head penny with open 3 or closed 3 Uncirculated pieces will reach an impressive $8,304 to $14,753. Such a coin is valuable regardless of grade. Thanks to a production error, you can find a rare doubled die variety noticeable on the LIBERTY word written along with the headband. 1873 Indian head penny with doubled Liberty An average price for such a coin is $137 to $1,196, depending on its quality. Since some dies had a production problem, you can find coins minted this year with doubled last two numbers in the date. While the 1864 coin without L typically costs $16 to $545, the price of the variety with L will be up to $9,864 for the piece in the highest grade.

If you find this initial, your coin will be worth almost four times more than the one without the letter. You should look for the letter L on a plain ribbon tail behind the Indian’s neck. One has the pointed, while another type has the more rounded bust tip. You can find two bronze Indian head penny varieties minted this year. 1864 Indian head penny without L on a ribbon Nowadays, older copper-nickel coins are worth 30% more than those made of bronze. You can quickly recognize circulated bronze coins thanks to their brown patina, while the copper-nickel specimens retain silverish color.

Almost 14 million silverish coins minted of copper and nickel.

More than 39 million deep orange bronze pieces.

Two Indian head penny types were made that year:

The US Mint gave up using nickel and changed Indian head pennies’ composition in 1864. Indian penny value by USA Coin BookĬopper-nickel laurel wreath reverse without shieldĬopper-nickel penny with a oak wreath and shield It was changed in 1865, and the new variation was lighter and made of 95% copper. Longacre designed the coin that initially contained 88% copper and 12% nickel. Therefore, the Indian head penny appeared as an ideal solution in 1859. The first attempt was Flying eagle penny, well known for numerous design problems. In the 1850s, the US Mint decided to reduce the penny size and composition due to copper price fluctuations. Since the US government didn’t allow any other metal except silver and gold as legal tender, it was impossible to use this coin for solving government payments, including taxes. The Indian head penny was practically the first penny minted after large cents.

1898 indian head penny composition