The 1859 Indian Head Penny’s value depends on condition, errors, and varieties. Most 1859 pennies without mint marks are worth $15-$30 in average condition, while uncirculated specimens can exceed $200. Key factors affecting value include the coin’s grade, presence of varieties like doubled dies or repunched dates, and overall rarity. The 1859 issue marks the first year of the Indian Head series, making it particularly desirable to collectors. While lacking the extreme rarity of later key dates like the 1877 or 1909-S, well-preserved 1859 pennies with sharp details and minimal wear command premium prices in today’s numismatic market.
The 1859 Indian Head penny marks the beginning of one of America’s most beloved coin series. As the inaugural year, this copper-nickel cent carries special significance for collectors, especially considering that over 36 million pieces were struck at the Philadelphia Mint. While not as rare as later key dates like the 1877 or 1909-S, the 1859 Indian Head penny offers fascinating varieties and error types that can command impressive prices—from $25 in worn condition to over $15,000 for pristine specimens.
Understanding the 1859 Indian Head Penny Design
James Barton Longacre, Chief Engraver of the United States Mint, created the Indian Head design featuring Liberty wearing a Native American headdress on the obverse. The reverse displays a laurel wreath encircling the denomination “ONE CENT”—a design element that would change in 1860 to an oak wreath with shield. This one-year laurel wreath design makes the 1859 particularly distinctive among Indian Head pennies.
The 1859 composition consists of 88% copper and 12% nickel, weighing 4.67 grams with a diameter of 19 millimeters. All 1859 Indian Head pennies were produced at the Philadelphia Mint, meaning they carry no mint mark. This differs from later years when San Francisco (S) and Denver (D) facilities would produce branch mint varieties.
1859 Indian Head Penny Value by Grade
The condition or grade of your 1859 penny dramatically affects its market value. Professional grading services like PCGS and NGC use the Sheldon Scale, ranging from Poor-1 to Mint State-70, to evaluate coins based on wear, luster, and eye appeal.
| Grade | Condition Description | Market Value |
|---|---|---|
| Good-4 | Heavy wear, date readable | $25-$35 |
| Fine-12 | Moderate wear, some detail visible | $45-$60 |
| Very Fine-20 | Light wear on high points | $85-$120 |
| Extremely Fine-40 | Slight wear, most details sharp | $160-$220 |
| About Uncirculated-50 | Traces of wear on highest points | $275-$375 |
| MS-60 | Uncirculated, contact marks present | $425-$550 |
| MS-63 | Uncirculated, attractive appearance | $750-$950 |
| MS-65 | Gem uncirculated, few marks | $1,850-$2,400 |
| MS-67 | Superb gem, exceptional quality | $8,500-$15,000 |
According to Heritage Auctions records from 2023, an MS-66+ specimen sold for $7,200, while a stunning MS-67 Red example reached $13,200 at auction. The “Red” designation indicates original mint coloring has been retained—a premium feature for copper-nickel cents from this era.
Identifying 1859 Indian Head Penny Varieties
Several die varieties exist for the 1859 Indian Head penny, created by differences in die production and use. These varieties can significantly increase value for advanced collectors who specialize in attributing subtle differences.
1859 Shallow N Variety: The most notable variety shows a shallow or weak “N” in “ONE” on the reverse. This resulted from die erosion or improper hubbing during production. Examples in Fine condition start around $55, while Mint State specimens can exceed $650, representing a 15-20% premium over standard strikes.
1859 Pointed Bust Variety: Close examination of Liberty’s bust reveals either a pointed or rounded truncation. The pointed bust shows a sharper angle where the neck ends. This variety typically commands $40-$50 in Good condition and $500-$700 in MS-60.
1859 Doubled Die Obverse: Authenticated doubled die errors show doubling on LIBERTY, the date, or feather details. PCGS-certified examples in Very Fine grade have sold for $485, with Mint State pieces reaching $2,100 at Stacks Bowers auctions in 2022.
Common Errors Found on 1859 Pennies
Manufacturing processes in 1859 were less refined than modern production, creating opportunities for various mint errors that collectors actively seek today.
Off-Center Strikes: When the planchet (blank coin) isn’t properly centered between dies, the resulting coin shows incomplete design elements. A 10% off-center 1859 penny in Very Fine condition sells for approximately $175-$250, while a 25% off-center example can reach $400-$650. The date must remain visible for premium pricing.
Repunched Dates: Die punchers sometimes struck the date multiple times in slightly different positions, creating visible doubling in the numerals. For 1859 pennies, repunched date varieties in Extremely Fine condition typically bring $225-$350, depending on the strength and clarity of the repunching.
Lamination Errors: The copper-nickel alloy occasionally developed internal stress during the rolling process, causing thin layers to peel away after striking. Lamination errors on 1859 cents range from $85 in lower grades to $450 in About Uncirculated, with values increasing if the lamination creates dramatic visual effects.
Die Cracks and Cuds: As dies deteriorated through use, metal fatigue created cracks that appear as raised lines on struck coins. Major die breaks called “cuds” show raised blobs where the die completely fractured. A 1859 penny with a significant cud error in Fine condition commands $95-$140, while Mint State examples with dramatic cuds can reach $600-$850.
Clipped Planchets: If the metal strip used to punch out planchets overlapped previous punchings, the resulting blank would have a curved clip missing. Straight clips indicate the blank was cut from the strip’s edge. Clipped planchet errors on 1859 pennies sell for $65-$125 in circulated grades, with uncirculated specimens bringing $275-$450 depending on clip size.
Authentication and Counterfeits to Avoid
The collectible value of 1859 Indian Head pennies has unfortunately attracted counterfeiters. Common fakes include altered dates (changing common 1859 pennies into rare 1858 patterns), cast copies, and modern strikes from fabricated dies.
Authentic 1859 pennies display sharp, even denticles around the rim, consistent metal flow in the fields, and proper weight of 4.67 grams. The laurel wreath should show crisp, deeply incised leaves with natural metal flow. Counterfeits often exhibit mushy details, incorrect weight, wrong metal color, or porosity from casting.
Professional authentication through PCGS or NGC costs $20-$40 for modern service levels but provides peace of mind for coins valued over $200. Third-party grading also encapsulates coins in protective holders, preventing environmental damage and making future sales easier.
Market Trends and Investment Potential
The 1859 Indian Head penny market has shown steady appreciation over the past decade. Certified MS-65 examples that sold for $1,200 in 2013 now bring $1,850-$2,400, representing approximately 5-7% annual growth. This outpaces inflation and demonstrates the enduring collector demand for quality first-year Indian Head cents.
Populations reports from PCGS indicate only 147 examples graded MS-65 or higher, with just 28 specimens achieving MS-66 or better grades. This scarcity in high grades supports premium pricing and suggests continued value appreciation as more coins enter permanent collections.
Registry set competition drives demand for top-quality examples. Collectors building complete Indian Head penny sets in uniform grades actively pursue 1859 pennies that match their target quality level. This consistent buyer base provides market stability compared to more speculative numismatic areas.
Where to Buy and Sell 1859 Indian Head Pennies
Reputable coin dealers, both local and online, offer 1859 pennies with varying inventory and pricing. Heritage Auctions, Stacks Bowers, and Great Collections regularly feature examples in their numismatic sales, providing transparent pricing through auction results. Online marketplaces like eBay offer broader selection but require careful authentication to avoid counterfeits.
Local coin shops allow hands-on inspection before purchase, though selection may be limited compared to online sources. Coin shows provide opportunities to examine multiple examples and negotiate pricing directly with dealers. Membership in the American Numismatic Association provides access to educational resources, grading standards, and dealer directories.
When selling, certified coins command higher prices and sell faster than raw examples. Auction consignment works well for premium-quality specimens likely to attract competitive bidding, while dealer direct purchase offers immediate payment but typically yields 10-20% less than retail market value.
Building Your 1859 Penny Collection Strategy
Start with a problem-free example in Fine to Very Fine condition for $45-$120 to establish your position in this historic issue. This entry point provides affordable access while you develop authentication skills and market knowledge. As your expertise grows, upgrade to Extremely Fine or About Uncirculated grades for $160-$375.
Advanced collectors often pursue both a high-grade type coin (MS-63 or better) and several variety examples to demonstrate the series’ diversity. A balanced approach allocates 60% of budget to grade quality, 30% to varieties, and 10% to interesting error coins. This strategy builds a collection with both visual appeal and numismatic significance that tells the complete story of America’s first Indian Head penny.
What year is the most valuable Indian Head penny?
The most valuable Indian Head penny is often considered the 1909-S, with a mintage of only 309,000, though the 1877 is also extremely rare and highly sought after due to its very low mintage and popularity among collectors. Other key dates that drive value include the 1908-S and various early issues from the 1860s, with value depending on the coin’s specific year, mintmark, and condition.
How do I know if my Indian Head penny is worth anything?
To determine if your Indian Head penny is valuable, identify the date, check for a mint mark (S for San Francisco), look for key dates like 1877 or 1909-S, and assess its condition, noting the visibility of the “Liberty” on the headdress. Also, examine the coin for mint errors such as rotated dies, double strikes, or broadstrikes, as these can significantly increase value. Consider getting the coin authenticated by a reputable dealer or grading service, especially for key dates, as counterfei…
What year is Penny worth $7000?
The U.S. minted about 7.7 billion pennies in 1983 but only about 5,000 of them have the doubling error. The mistakes and the rarity is what drives the price up, with some of the coins, known among collectors as the 1983 Penny With No Mint Mark, selling for as much as $7,000.