As you have noticed by now if you are a coin enthusiast, the US coins all have a story. You can tell from their various names. The stories are so rich you must wonder how much these collectibles are worth.
Presented in this article is the 1907 Indian Penny. This article will show you how much this coin is worth, how to value it, and more. If you have this coin in your possession, this article will help you make a proper value of your coin.
The 1907 Indian Head Penny
According to the USA coin book, the 1907 Indian Head Penny is worth $3.30 in average condition, although it can be worth as much as $42 to $63 or more in uncirculated (MS+) mint condition. Proof coins are worth up to $160 or more. This penny was produced in large quantities which makes it not so rare, and most of the ones in circulation are in Good condition.
All pennies do not share the same condition though, and consequently do not have the same value. For this reason, grades are applied when determining the value of the 1907 Indian head penny. There is a slight increase to $7 in value if the penny is graded as Extra Fine.
1907 pennies become even more expensive if they’re in uncirculated condition. If ungraded, they are valued at about $28, if graded their prices begin at $100. Higher prices for the coin begin from those that are graded MS 63 and only 50 coins have been graded MS 63 and above by PCGS ( Professional Coin Grading Services, an American third-party coin authentication service founded in 1985).
On December 5, 2019, Heritage Auction sold a 1907 Indian head penny graded MS-67+RD for $63,000.
|95% Copper, 5 % tin and zinc
|Years of minting
|Indian head and wreath
|James B Longacre
If you are new to coin grading the codes PR or MS might be confusing. Below is a key to understanding what these terms mean and how they help determine the value of your coin.
MS means Mint State and is graded from MS 60 to 70. It is used to describe coins that have never been in circulation. They are used for coins that are marked (MS 60) to those that are flawless (MS 70).
A coin-designated PR is prepared from a special coin die. They are usually struck twice to give them a better definition. The presses that strike them work with lower speeds but higher pressure. For this reason, proof coins usually have sharper detail. PCGS considers coins struck in 1817 and after as proofs.
These are Special coins that show the same details as proof coins but were minted from 1792 to 1816. In those years the equipment used wasn’t as advanced as the ones used after, so the coins didn’t have the clean, mirror-like characteristics of the coins after 1817.
Furthermore, a coin can be in Poor condition to Mint State 70 (MS 70).
Barely identifiable or damaged
It must have a mint mark if used
Worn smooth but not damaged like Poor
Has enough detail to identify the coin
Very worn but showing inscriptions that merge into the rim
Coin is very worn but all major design elements are faintly evident
The wear is even and the overall elements stand out
Moderate wear and showing some details
Motto must be readable
Rims are separated from the field
Details are still bold and devices are clear
High points of coin show slight traces of wear
Eye appeal is present along with or without some contact marks
Lesser hints of wear marks
Almost full mint luster
Plenty eye appeal
|Mint State basal
Shows no evidence of wear on the high points of coin
Noticeable contact marks
|Mint State acceptable
Contact marks and nicks
Slightly less luster
Appealing appearance is fundamental
|Mint State choice
Strong mint luster
Very few contact marks
Great eye appeal
Above average strike
|Mint State Premium Quality
No visible marks
Exceptional eye appeal
Sharp and attractive
|Mint State almost perfect
Sharp attractive strike
Exceptional eye appeal
Tiny flaws only visible under a 8x magnification
|Mint State perfect
No microscopic flaws visible under 8x magnification
Bright and complete
1907 Indian Head Penny: Short history
This coin belongs to the series of one-cent coins produced by the United States Bureau of the Mint from 1859 to 1909. James Barton Longacre who was a chief engraver at the Philadelphia mint was the designer of the coin.
It was Longacre himself who advocated the Indian head design in a letter on August 21, 1858. He said it was an opportunity to consecrate the liberty of both the native Americans and others.
The production of the series began in 1859 and the years that constituted the last years are from 1865 to 1909. There was an economic panic in 1893 that caused a decrease in the number of Indian head cents produced as there was a surplus of coins in the hands of the public. 1907 was the year the most coins were produced in the series.
This year topped the hundred million mark. By the beginning of the 20th century, the coin had been accepted nationwide. The law restricted the production of the Indian head penny at the Philadelphia mint but treasury officials tried to remove this restriction.
There was debate over whose face is on the coin. Some say the lady who posed for the artistic design was Longacre’s daughter. What’s obvious is that the lady is not Indian but a caucasian wearing a native American Indian headdress.
The Indian head cents are now harder to find than before. Most of the coins have found their way into the hands of collectors.
If you are picking up the art of collecting coins and you would like to have a 1907 Indian head penny in your collection you should acquaint yourself with this coin even more by checking out the video below.
Few series are more popular than the Indian head penny series. They were produced for 50 years making them some of the favorite and well-known coins in American lives. Collectors starting out always love to begin their collection with these coins.
The 1907 Indian Head Penny Design
This coin was designed by James Barton Longacre who worked at the time at the Philadelphia mint. Likely, the job of designing was given to him because he worked here.
The face of the coin here features the head of a lady wearing a native American Indian headdress with the word “LIBERTY”. The words “UNITED STATES OF AMERICA” in block letters are written above along the edge. And 1907 is written below also along the edge.
The reverse features an oak wreath that straddles the words “ONE CENT” in block letters in the middle. The wreath curves along both sides of the surface of the coin and meets at the top with a shield in the middle. The design shows exceptional details in uncirculated conditions.
Fun Facts About The 1907 Indian Head Penny:
- The Indian head cents series is the most popular coin in American history.
- The mystery about the model wearing the native American headdress was seemingly solved when a woman named Meg Quinn, a Los Angeles resident wrote a letter to set the story straight in the Los Angeles Times on March 21, 1985. The woman wrote that the lady on the Indian head cent was her great-great-grandmother, Longacre’s daughter, Sarah who had begged to be brought to Washington to see an Indian chief. She ended up wearing the headdress for a moment and in which time Longacre made a sketch of her and submitted the same proposal.
The 1907 Indian Head Penny Value
Collectors are persuaded to buy a coin by how good or great the condition of the coin is.
Indian head coins in pristine condition sell higher than those in poor condition. The coin’s grade helps determine the value. And if you have the coin, grading it helps increase how much you get for it.
|1907 Indian Head Penny Value By JM Bullion
|1907 Indian Head Penny Value By USA Coin Book
|1907 Indian Head Penny Value By CoinStudy
|1907 Indian Head Penny Value By PCGS
Despite the fact that the condition of the 1907 Indian Head Penny has been called into question by various coin grading platforms, this coin has actually sold for high prices in auctions. Below are a few examples of the 1907 Indian Head Penny sold at auction.
- 1907 1c Pcgs Ms67 Sale Price Sold On Sep-2021 for $20,500.00
- 1907 1C MS66+ Red PCGS Sold on Apr 25, 2021, for:$4,320.00
- 1907 1C PR67 Brown: Sold on Sep 23, 2010, for: $1,610.00
- 1907 1C MS67+ Red PCGS Sold on Dec 5, 2019 for: $63,000.00
Frequently Asked Questions
What makes a 1907 Indian Head Penny rare?
If you have the 1907 Indian head then it is one among many surviving today. If your coin is in great condition then collectors will have something to look at among a rather large population of coins. The coin will be considered rare too if the original details remain.
Where is the mint mark on a 1907 Indian head penny?
The 1907 penny doesn’t have a mint mark. It was manufactured in only one mint, the one in Philadelphia.
What year Indian pennies are worth money?
The following are 5 out of the Indian pennies worth money:
- 1888Indian head cent (last 8 over 7) valued at $38,120. It was graded AU58BN by PCGS. This coin is a bronze composite and was minted in Philadelphia. What makes it the rarest penny is the date. It was initially made in1887 but was stamped again in 1988. The tail of the “7” is still visible “8” making it the rarest penny of all time.
- 1873Indian head penny (Double Liberty) at $14,753 on coinbook.
- 1864Indian head cent ( with L). This coin has a very small L on the ribbon. The proof coin is worth $9,000. $104 in very good condition, $642 in brilliant uncirculated condition according to coinbook.
- 1877Indian Head Cent. This penny is in high demand because few of it was made. In good quality, this penny is worth $1,003, and the proof coin is $3,000 and $5,000 in uncirculated condition. It is valued by coinbook at $5,002.
- 1859Indian Head Penny (Laurel Wreath Reverse without shield) Coinbook valued this coin at $1,789. In good condition, this coin is worth $16. The proof coin is worth over $1,700.
What is a 1907 Indian head penny?
It is a one-cent coin made in 1907 in the Philadelphia mint and designed by James Barton Longacre. It has the head of a woman wearing a native Indian Headdress. 108,137,143 of it was minted. It is a member of a series of coins called the Indian head cents.
The value of coins can change over the years. Most increase in price as they continue to reduce in population. Some are so valuable that if you have just a couple and sell them high, you can buy a car with the proceeds. It is important to know how to grade your coin. It is even more important to get it graded by a credible grading service and put it up for sale on an auction site. There are collectors ready to pay top dollar for the 1907 Indian head penny.