How Much is an 1902 Indian Head Penny Worth? (Price Chart)

The 1902 Indian head penny is one of the newest in the series, making it effortless to find. The entire series was in circulation for a long time, making it a crucial part of US history but also a hard piece to find in the mint stage.

As you can guess, the 1902 Indian head penny value will depend on its appearance. So, your only concern is to find an attractive specimen in the best possible condition. The best option is to send this over a century old coin to the relevant coin grading service and have it professionally checked.

1902 Indian Head Penny History

Skyrocketed copper price became a problem by 1857 because of the increased cost of making copper coins. As a result, the US Mint barely made up expenses while producing half-cent and large-cent pieces made of this metal.

1902 Indian head penny

Location Year Minted
Philadelphia 1902 87,374,704
Philadelphia 1902 proof 2,018
Total / 87,376,722

An instant solution was to reduce the penny size and weight and stop minting half-cent coins. After an attempt with a Flying Eagle coin struck for only two years, the US Mint started producing Indian head pennies in 1859.

1902 Indian head penny

Face value $0.01 (1 cent)
Compound 95% copper plus 5% tin and zinc
Coin diameter 0.74803 inches (19 mm)
Coin weight 0.10970 ounces (3.11 g)
Coin thickness 0.05905 inches (1.5 mm)
Edge Plain
Shape Round

The US Mint’s fourth Chief Engraver, James Barton Longacre, designed the Indian head penny (Indian cent) struck between 1859 and 1909. Initially, they weighed 0.16473 ounces (4.67 g) and contained 88% copper and 12% nickel, but it was changed in 1864.

1902 Indian head penny value

Year Quality
Good Fine Extra fine Uncirculated
by JM Bullion
1902 $2 $4.5 $10 $20
by CoinStudy
1902 $1.2 $1.9 $5 $31
by Coinflation
1902 D $0.75 to $1 $2 to $2.5 $6 to $6.5 $28+

New coins consisted of 95% copper and were lighter. Their weight was reduced to 0.10970 ounces (3.11 g). The Philadelphia mint produced most pieces, including all coins minted in 1902, so they didn’t include the mint mark.

 

1902 Indian Head Penny Type

1902 Indian Head Penny Type
Image

The 1902 Indian head penny has Lady Liberty with a pearl necklace and an American Indian headdress on the obverse. You can see the word LIBERTY on her ribbon, plus the inscription UNITED STATES OF AMERICA and the date of minting along the coin edge.

The modest reverse includes denomination in the center, surrounded by a wreath made of three arrows and oak leaves. A small shield above with 6 vertical and 7 horizontal stripes symbolizes the original US states.

1902 Indian head penny

1902 is one of the last years of Indian penny minting, making this coin accessible and relatively inexpensive. Its price is still stable, without significant fluctuation typical for some other American coins.

1902 Indian head penny value*

Quality Brown patina Red brown patina Red patina
MS 60 $50 $55 $65
MS 61 $55 $60 $70
MS 62 $60 to 62 $65 to 67 $75t o 85
MS 63 $65 to 70 $75 to 85 $130 to 160
MS 64 $90 to 100 $115 to 135 $250 to 300
MS 65 $150 to 190 $215 to 350 $525 to 850
MS 66 $340 $500 to 1,000 $2,000 to 2,750
MS 67 / / $20,000 to 40,000

*by Coleccionist

The crucial thing to consider is its patina. Even though 87,374,704 pieces were minted the same way, they aged differently because of various oxidation levels. Therefore, you can find three patina types that differentiate in tone (color), including:

Brown – It is the most common type that looks the most aged. Brown pieces that spend limited time in circulation have greenish or bluish stains on the surface.

Red-brown – This brown specimen with reddish tones in places results from better conservation. It wasn’t exposed to oxygen and high humidity and is worth more money than a brown coin.

Red – The red patina is typical for copper coins in the mint state. It is not easy to preserve pennies in this tone for a long, making them expensive. Believe it or not, a piece in MS 67 grade can be worth at least $11,200 to $13,200.

1902 proof Indian head penny

The Philadelphia mint produced 2,018 proof Indian head pennies in 1902. Pieces in good grade typically cost $2, while you can get $10 for those in extra fine condition.

Pennies in the mint state are worth from $40 to a few hundreds of dollars, but a rare specimen in MS 67 grade can reach a price of impressive $4,000.

 

1902 Indian Head Penny Rarities and Key Words

1902 Indian Head Penny Rarities and Key Words

The US Mint didn’t make significant errors while minting 1902 Indian head pennies, so those with a mintage flaw are rare. As you can guess, any possible deviation from the standard appearance will increase the coin price.

1902 Indian head penny value

Quality by USA Coin book by Country list by Coinancials
Good $2.2 / /
Very good $3.2 $3 $3
Fine $5 $4 $4
Very fine $6.5 $6 $5
Extra fine $11 $12 $9
AU $22 $34 $25
MS 60 $41 $38 /
MS 63 $61 / $59
MS 65 / / $209
Proof 63 $156 / /

Displaced minting is an error that includes incorrectly minting and the displaced design. In most cases, it is about a slight and almost unnoticeable deviation.

However, you can find pieces with an offset more significant than 50% than the standard design. It is pretty hard determining such a coin price since it depends on:

  • The particular specimen
  • The offset degree
  • Current demand on the coin market

For instance, you can find MS 64 BN penny with a 15% offset for approximately $450, while the similar piece with a 20% offset can reach $725.

 

1902 Indian Head Penny Grading

1902 Indian Head Penny Grading

Every collector will first check the preservation level of the 1902 Indian head penny they are interested in. Unfortunately, finding this piece in the mint state can be tricky after years spent in circulation.

The best option to precisely determine your coin condition is to have it professionally checked, but you can also use the official specifications to gain an idea of its grade. Let’s take a look.

Uncirculated – Such a 1902 Indian head penny has never circulated, so it is still with the original bright mint luster, original texture, and without any sign of wear over the surface. Sometimes, aging affects the coin’s color, but it is a desired feature for collectors.

1902 Indian head penny value*

Quality Brown patina Red brown patina Red patina Proof
Good $1 to $2 / / /
Very good $2.1 to $2.5 / / /
Fine $2.4 to $3.2 / / /
Very fine $3.4 to $5.3 / / /
Extra fine $6.7 to $16.2 / / /
AU $22.9 to $35.6 / / /
MS 60 $40.5 to $48.6 / / $143 to $172
MS 61 $45.9 to $55 $61 to $73 $94 to $113 $162 to $195
MS 62 $59 to $71 $74 to $89 $122 to $140 $188 to $226
MS 63 $78 to $94 $101 to $122 $169 to $203 $221 to $254
MS 64 $94 to $113 $162 to $195 $318 to $376 $292 to $336
MS 65 $143 to $172 $260 to $299 $708 to $844 $422 to $486
MS 66 / $598 to $668 $1,560 to $1,880 $910 to $1,090
MS 67 / / $11,200 to $13,200 $3,440 to $4,060

*by Greysheet

Extra fine – This coin is in excellent condition, with only a few slight signs of wear on the hair above Lady Liberty’s ear. Her cheek and the ribbon are a bit flattened without the original luster. Since this piece spent only a limited time in circulation, it is still beautiful and collectible.

Fine – After spending a long time in circulation, this penny is faded and full of scratching and chipping. The highest design parts, including Lady Liberty’s headband, cheek, and neckline, are worn out and flattened.

However, the crucial details are still visible, making this coin collectible. Plus, most 1902 Indian head pennies are heavily worn, so collectors are happy to find a decent piece like this one.

1902 Indian head penny value*

Quality 1902
Good $1.45
Very good $2.15
Fine $3.35
Very fine $3.8
Extra fine $7.6
Uncirculated $23.75
BU brown $150
BU red and brown $165
BU red $475

*by Hobbizine

Good – Unfortunately, most 1902 Indian head pennies are in this low-grade condition. You can see significant signs of wear on the coin surface.

Most details on Lady Liberty’s hairline, her headband, and eagle’s feathers are flattened. Such a specimen can be considered collectible only when it is possible to recognize a full rim.

 

Summary

The 1902 Indian head penny was in circulation for a long and was not particularly rare. In fact, many people find this coin in their homes, but most of them are in horrible condition.

Even though only pieces in the mint state can be worth more, each is valuable and collectible because of its age and historical significance.

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