That year, the US Mint started striking Lincoln penny, honoring his 100th birthday. Initially, the Indian Head penny contained 88% copper, but it was changed in 1864 when new pieces were made of 95% this metal. Only one mint produced these pennies, except in 1909.

Despite the idea to design a penny with a Native American on the obverse, he actually depicted Lady Liberty. Therefore, new Indian Head pennies appeared in circulation in 1859, sending previous cents in history after only three years of minting. In 1856, Americans got the Flying Eagle pennies, the new small one-cent coins, but that design was complicated to mint. Therefore, the US Mint decided to solve the problem of expensive coin mintage by canceling half-cent production and reducing the penny diameter and weight. To make things even worse, copper prices raised too much by 1857. Therefore, it was impossible to use these coins for government payments, including paying taxes. Americans used only silver and gold coins in those times, and didn’t trust copper coinage value. The first American pennies were Large cents minted in 1793. The 1898 Indian Head penny value can be significant because pieces in the uncirculated condition are often rare. The idea was to honor Native Americans, but the designer actually depicted Lady Liberty with an Indian headdress on her head. This penny was the second small American cent after the Flying Eagle penny, striking only three years because of design flaws. Chief engraver and portraitist James Barton Longacre designed this coin minted in the Philadelphia mint from 1859 to 1909. Your 1905 Indian penny is always of value.The US Mint introduced the Indian Head penny made of 88% copper in 1859, but the composition was changed to 95% copper in 1864. Many collectors pursue lightly worn and pleasing examples as they are building sets. Rarity and collector interest established a high value on gem 1905 Indian pennies.Įlite condition coins are only a small part of the coin collecting hobby, their rarity is a limiting factor.

This coin was sold at a David Lawrence rare coin auction after multiple bids took the price to $690. When a coin of this gem quality is offered in the market it is likely in an auction setting. In fact this coin is outstanding in eye appeal. Collectors would describe it as 'Gem uncirculated.' Bright original color, mark free surfaces and absent are any visual distractions. Pictured is a 1905 penny taking the term to a different level. Highest Value for Gem Quality 1905 Indian Head PennyĪn Indian penny showing no signs of wear to its surface is known as 'uncirculated' condition.

1898 indian head penny ms65rd