The 1907 Indian Head Penny typically values between $2-$4.50 in circulated condition, with Good condition coins worth around $2 and Fine condition pieces reaching $4.50. This coin features no mint mark as standard, since it was struck at the Philadelphia Mint which didn’t use mint marks during this period. However, certain minting errors can significantly increase collector value. Repunched dates are the most notable errors, occurring when the die was punched multiple times, creating visible doubling in the numbers—particularly the 9s, 0s, and 7s. These error varieties are highly sought after by collectors and command premium prices above standard circulated values.
Finding a 1907 Indian Head penny in your collection might seem unremarkable at first glance, but this 117-year-old cent tells a fascinating story about American coinage at the turn of the century. With specific errors and variations commanding premiums well beyond standard values, understanding what makes your 1907 penny special could mean the difference between spending a few dollars and hundreds at auction. This complete guide breaks down exact values across all grades, explains the no mint mark mystery, and reveals which errors serious collectors actively hunt.
Understanding the 1907 Indian Head Penny’s Place in History
The 1907 Indian Head penny represents one of the final years of James B. Longacre’s iconic design before the Lincoln cent replaced it in 1909. The Philadelphia Mint struck 108,138,618 pieces that year, making it a relatively common date with healthy survival rates across all grades. Unlike modern pennies, these coins were struck in 95% copper and 5% tin and zinc, giving them their distinctive bronze appearance and 3.11-gram weight.
The design features Lady Liberty wearing a Native American headdress on the obverse—a controversial choice that actually depicts a Caucasian woman rather than an authentic Native American portrait. The reverse displays a wreath of oak and laurel leaves encircling the denomination “ONE CENT” with a shield at the top. This shield was added in 1860 to replace the original laurel wreath design from 1859.
What confuses many collectors is the absence of a mint mark. The 1907 Indian Head penny was produced exclusively at the Philadelphia Mint, which traditionally did not use mint marks during this era. Therefore, every authentic 1907 Indian Head cent legitimately has no mint mark—this is standard, not an error or special variety.
Current Market Values by Grade
The 1907 Indian Head penny’s value fluctuates significantly based on condition, with even small improvements in preservation yielding substantial price increases.
Standard Circulated Grades:
| Grade | Designation | Value Range |
|---|---|---|
| Good | G-4 | $2.00 – $2.50 |
| Very Good | VG-8 | $2.75 – $3.25 |
| Fine | F-12 | $4.50 – $5.50 |
| Very Fine | VF-20 | $7.00 – $9.00 |
| Extremely Fine | EF-40 | $14.00 – $18.00 |
| About Uncirculated | AU-50 | $28.00 – $35.00 |
Uncirculated Grades:
| Grade | Color Designation | Value Range |
|---|---|---|
| MS-60 | Brown | $45.00 – $55.00 |
| MS-63 | Brown | $75.00 – $95.00 |
| MS-63 | Red-Brown | $145.00 – $185.00 |
| MS-65 | Brown | $185.00 – $225.00 |
| MS-65 | Red-Brown | $425.00 – $550.00 |
| MS-65 | Red | $1,850.00 – $2,400.00 |
| MS-67 | Red | $8,500.00 – $12,000.00 |
The color designation matters tremendously for uncirculated examples. “Red” coins retain their original mint luster with at least 95% of the original red-orange copper color. “Red-Brown” shows 5-95% original red color mixed with brown oxidation. “Brown” specimens have fully oxidized to brown tones. A Heritage Auctions sale in January 2023 realized $9,200 for an MS-67 Red example, demonstrating the premium collectors pay for original color.
Proof strikes of the 1907 Indian Head penny exist with an original mintage of just 1,475 pieces. These specially struck coins for collectors command $1,200 to $1,800 in PR-63 condition and $3,500 to $5,000 in PR-65, with exceptional PR-67 examples reaching $12,000 to $18,000 at major auctions.
Valuable Error Varieties to Search For
While the 1907 Indian Head penny lacks the dramatic doubled die errors of some other dates, several repunched date varieties attract specialist collectors and command measurable premiums.
Repunched Date Varieties:
The most significant error type for 1907 involves repunched dates, where the die was punched multiple times slightly out of alignment, creating visible doubling of numerals. The most notable varieties include:
1907 RPD-001 (Repunched 9): This variety shows clear doubling inside the loop of the 9, most visible under 5x magnification. Well-preserved examples in VF-20 grade sell for $18 to $25, while MS-63 Brown specimens command $125 to $165. A Stack’s Bowers auction in March 2024 sold an MS-64 Brown example for $187.
1907 RPD-002 (Repunched 0): The first zero shows doubling toward the southeast, creating a distinct notch effect on the left interior of the numeral. These trade for $15 to $22 in Fine condition and $95 to $135 in MS-63 Brown.
1907 RPD-003 (Repunched 7): Less dramatic than the previous varieties, this shows slight doubling at the base of the 7. Premium over standard values is modest: $3 to $5 in circulated grades and $15 to $25 in lower uncirculated grades.
Die Cracks and Cuds:
Advanced die state examples showing cracks through the date, lettering, or major design elements attract specialists. A prominent die crack through “UNITED” can add $8 to $15 to circulated examples. Rim cuds—raised blobs of metal caused by die breaks at the rim—are particularly desirable, with dramatic examples adding $25 to $75 depending on size and location.
Off-Center Strikes:
Genuine off-center errors showing 5-10% of the design missing yet retaining a full date are worth $45 to $85. More dramatic 20-30% off-center pieces with full dates command $150 to $350. A 40% off-center 1907 Indian Head penny sold through Great Collections in September 2023 for $425.
Planchet Errors:
Lamination errors, where the copper planchet’s surface peels away, typically add $10 to $35 depending on severity. Clipped planchets showing a straight or curved clip from the punching process bring $25 to $65. A dramatic double-struck 1907 Indian Head penny sold at Heritage Auctions in 2022 for $1,550, though such errors are exceptionally rare for this date.
Authentication and Grading Considerations
Because the value difference between grades can exceed $100, proper authentication and grading prove essential for 1907 Indian Head pennies, especially in uncirculated condition.
Identifying Genuine Specimens:
Counterfeit 1907 Indian Head pennies are relatively uncommon compared to key dates, but replicas and altered dates exist. Authentic coins should weigh 3.11 grams with a diameter of 19mm. The design elements should show crisp, sharp details in the feather tips and hair strands on unworn examples. Many fakes display mushy details or incorrect fonts in the date and lettering.
The most common alteration involves adding a “7” to worn 1902 or 1903 pennies to create a 1907. Under magnification, these alterations show disturbed metal flow around the modified digit and inconsistent patina compared to genuine specimens.
Critical Grading Factors:
For circulated 1907 pennies, grading focuses on the high points of Liberty’s hair ribbons, cheek, and feather tips. In Good-4 grade, the date and letters remain fully readable but all design elements are heavily worn smooth. Fine-12 grade shows moderate wear with some feather separation still visible and “LIBERTY” mostly readable in the headband.
Uncirculated examples require careful examination of contact marks, surface preservation, and most critically, original color retention. Even a single carbon spot or significant contact mark can drop an otherwise MS-65 coin to MS-63, reducing value by $100 to $300 depending on color designation.
The Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC) provide third-party authentication and grading. For any 1907 Indian Head penny potentially grading MS-64 or higher, professional certification is essential. The $25 to $40 grading fee proves worthwhile when the difference between an MS-63 and MS-65 Red-Brown amounts to $350 or more.
Population Reports:
According to PCGS population data as of 2024, only 47 examples have graded MS-67 Red or higher, with just 3 specimens achieving the coveted MS-68 designation. This rarity in top grades explains the exponential price increases for premium preservation. In comparison, over 2,800 specimens grade MS-63 or MS-64 in various color designations, making these grades the most liquid for buying and selling.
Building a Collection Strategy Around 1907 Pennies
Whether you’re starting a complete Indian Head penny set or focusing specifically on 1907 varieties, strategic collecting maximizes both enjoyment and investment potential.
Budget-Conscious Approach:
For collectors with limited budgets, acquiring a solid Fine-12 to Very Fine-20 example provides an affordable entry point at $4.50 to $9.00. These grades still display the essential design elements clearly while remaining accessible. Adding one or two repunched date varieties in similar grades creates an interesting mini-collection for under $50 total investment.
Type Coin Selection:
Many collectors need just one Indian Head penny to represent the series in a type set. The 1907 makes an excellent choice due to its availability and moderate pricing compared to earlier scarce dates. An About Uncirculated-50 example at $28 to $35 offers strong eye appeal with minimal wear while remaining affordable compared to fully uncirculated specimens.
Advanced Collecting:
Serious numismatists pursuing registry sets focus on MS-65 Red-Brown or higher specimens. Building a complete repunched date variety set of 1907 pennies in MS-63 Brown creates a specialized collection that demonstrates both knowledge and patience, with total investment ranging from $600 to $900 for all major varieties.
Investment Perspective:
Historical price data shows that MS-65 Red examples have appreciated approximately 4-6% annually over the past 15 years, outpacing inflation and many common investments. However, liquidity remains lower than precious metals or stocks, and selling often requires auction consignment with 10-20% fees. The 1907 date’s common status means dramatic price spikes are unlikely unless condition rarity in top grades continues tightening.
Where to Buy and Sell Your 1907 Indian Head Penny
Finding quality specimens and achieving fair prices requires understanding the various marketplaces available to collectors.
Online Auction Houses:
Heritage Auctions, Stack’s Bowers, and Great Collections host regular auctions featuring 1907 Indian Head pennies across all grades. These platforms provide transparent pricing with buyer’s premiums typically ranging from 15-20%. Their auction archives offer valuable realized price data for research. Great Collections specializes in lower-value coins with no buyer’s premium on lots under $200, making them ideal for circulated examples.
Dealer Networks:
Established coin dealers offer immediate purchase options, though expect to pay 10-20% above wholesale values. The advantage lies in examining coins in-hand before buying and receiving expert authentication advice. Major dealers like APMEX, JM Bullion, and David Lawrence Rare Coins maintain robust inventories with detailed photography and return policies.
Coin Shows:
Regional and national coin shows provide opportunities to examine multiple specimens side-by-side and negotiate directly with dealers. The annual American Numismatic Association conventions and Florida United Numismatists shows attract hundreds of dealers with extensive Indian Head penny inventories. Shows allow for immediate payment without shipping delays or buyer’s premiums.
Selling Considerations:
When selling, expect wholesale offers from dealers at 60-75% of retail value for common grades. Auction consignment typically yields higher results but involves waiting 4-8 weeks for payment and paying seller’s fees. For premium MS-65 or better specimens, auction remains the best option for maximizing returns. Circulated examples often sell more efficiently through dealer direct purchases or online marketplaces like eBay, where buyer pools are broader.
Protecting and Preserving Your Collection
Proper storage prevents environmental damage that can permanently reduce your 1907 Indian Head penny’s value, particularly for uncirculated specimens where color preservation is critical.
Storage Solutions:
Never store copper coins in polyvinyl chloride (PVC) holders, which leach chemicals causing green verdigris spots that destroy both appearance and value. Use inert Mylar flips, rigid PCGS or NGC holders for graded coins, or archival-quality albums with slides rather than direct contact pages.
Store coins in environments with stable temperature (65-70°F) and relative humidity below 40%. Fluctuating conditions accelerate oxidation and toning. A small desiccant packet in the storage container helps maintain consistent humidity levels.
Handling Practices:
Always hold coins by the edges, never touching obverse or reverse surfaces with bare fingers. Skin oils contain acids and salts that etch copper surfaces, creating permanent fingerprint patterns visible under magnification. Use cotton gloves or hold coins over soft cloths when examining them.
Cleaning Warning:
Never clean your 1907 Indian Head penny with any abrasive, chemical, or even gentle rubbing. The numismatic community universally devalues cleaned coins, often reducing their worth by 30-70% regardless of the cleaning method’s gentleness. Natural toning and patina are expected and desirable on older copper coins. If you suspect your coin needs conservation, consult a professional numismatic conservator rather than attempting any cleaning yourself.
Making Your 1907 Indian Head Penny Work for You
Whether your 1907 Indian Head penny currently sits in a drawer or already resides in a specialized album, understanding its specific value based on grade and variety empowers informed decisions about your collection’s direction. Start by carefully examining your specimen under magnification for repunched date characteristics—that $2 pocket change might actually be an $18 variety waiting for recognition.
For collectors building sets, the 1907’s availability across all price points makes it an accessible date that still offers challenge through variety hunting and condition upgrading. Focus your budget on the highest grade you can afford if acquiring just one example, or pursue variety completeness in consistent mid-grades for a more specialized approach. Either strategy provides genuine numismatic satisfaction while maintaining solid market liquidity should you eventually decide to sell.
Take action today by properly attributing your 1907 penny using variety resources, protecting it in appropriate holders, and documenting its characteristics with clear photography. These simple steps preserve value and prepare your collection for future growth, whether that means expanding to a complete Indian Head series or focusing deeper into 1907’s fascinating error varieties.
What makes a 1907 Indian Head Penny valuable?
The Indian Head penny 1907 value is rooted in a turning point for U.S. coinage. Designed by James B. Longacre, the coin shows Lady Liberty in a feathered Native American headdress. In 1907, this penny marked a production milestone: it was the first Indian cent to surpass 100 million coins minted.
How much is a 1907 one penny worth today?
A 1907 Indian Head Penny is generally worth between $2 for a circulated coin in “Good” condition to over $20 for an uncirculated specimen. The value is heavily influenced by the coin’s condition, as well as the presence of any rare varieties or mint errors, with uncirculated examples in high grades commanding significantly higher prices, while circulated ones are worth less but still more than face value.