Although the penny is the US Mint’s lowest denomination, it is sought after among collectors and one of the most collectible pieces. Through the minting years, this penny had several different designs. Indian head penny was mint for 50 years, in the 19th and 20th centuries, from 1859 to 1909.
Collectors who appreciate Indian head pennies can’t always come easily to this coin type since they are pretty old. Plus, it is hard to find these pieces in perfect condition. However, the situation with pennies from 1908 is different because there are still specimens in an uncirculated state. However, be aware that the 1908 Indian Head penny value can vary significantly depending on the mint mark.
1908 Indian Head Penny History
The American Mint began minting Indian head pennies a few years before the American Civil War. The designer was James Longacre, the American Mint chief engraver. The coin with this design was in production until 1909, when the Lincoln wheat penny minting began.
1908 Indian head penny |
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| Location | Year | Minted |
| Philadelphia | 1908 | 32,326,367 |
| Philadelphia | 1908 proof | 1,620 |
| San Francisco | 1908 S | 1,115,000 |
| Total | / | 33,442,987 |
During the fifty years of production, the only change was in the coin composition. Due to the metal shortage during the Civil War, the American Mint decided to increase the copper percentage to 95% and replace nickel with tin and zinc.
1908 Indian head penny |
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| Face value | One cent ($0.01) |
| Compound | 95% copper and 5% tin or zinc |
| Coin thickness | 0.07677 inches (1.95 mm) |
| Coin weight | 0.10970 ounces (3.11 g) |
| Coin diameter | 0.75 inches (19.05 mm) |
| Shape | Round |
| Edge | Plain |
On the obverse is the Lady Liberty profile facing left. She wears a pearl necklace around her neck and a traditional Indian headdress with nine feathers and a ribbon that says LIBERTY on her head.
The inscription UNITED STATES OF AMERICA is broken into two parts, extending along the coin rim in front and behind the Lady Liberty profile. The minting date is placed below her bust, near the bottom edge.Â
1908 Indian head penny value* |
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| Quality | 1908 | 1908 S |
| Good | $2.3 | $102 |
| Very good | $3.3 | $112 |
| Fine | $5.1 | $140 |
| Very fine | $6.6 | $162 |
| Extra fine | $11 | $198 |
| AU | $23 | $285 |
| MS 60 | $42 | $329 |
| MS 63 | $63 | $454 |
| PR 63 | $160 | / |
*by USA Coin book
You can see an oak wreath of two branches on the coin reverse that extend along the rim. At the coin bottom, a ribbon ties branches with three arrows, and below the ribbon is the mint mark if you have a piece produced in San Francisco.
The Union’s shield with thirteen stripes honoring the first states is placed on the coin’s upper rim between the separated wreath branches. In the central penny part is the ONE CENT denomination.
1908 Indian Head Penny Type
Until 1908, only the Philadelphia mint produced this penny, when the San Francisco mint became involved in this coin minting. In other words, the 1908 Indian head penny was the first ever with the mint mark appearing on the reverse, below the wreath.
1908 Indian head penny value* |
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| Quality | 1908 | 1908 S |
| Good | $1 | $72 |
| Very fine | $2 | $110 |
| Extra fine | $3 | $140 |
| Uncirculated | $20 | $180 |
| MS 63 | $30 | $255 |
| MS 65 | $410 | $1,930 |
| PR 65 | $480 | / |
*by CoinHelpU
1908 Indian head penny
In 1908 the Philadelphia mint struck 32,326,367 coins without a mintmark. That was a low mintage for pennies, but their value on the coin market is not too high nowadays and primarily depends on each penny’s condition.
1908 Indian head penny value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1908 | $2 | $5 | $10 | $20 |
| 1908 S | $90 | $125 | $175 | $250 |
*by JM Bullion
You can find this coin in good condition for about $2, while a penny with an MS 67 rating can be worth up to $2,000.
1908 proof Indian head penny
The Philadelphia mint minted 1,620 proof pennies in 1908. This penny didn’t have a mintmark like other coins coming from this mint. It can be yours for approximately $1,300 on the current market.
1908 Indian head penny value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1908 | $1.2 | $1.9 | $5 | $29 |
| 1908 S | $61 | $103 | $156 | $238 |
*by CoinStudy
1908 S Indian head penny
In 1908, the San Francisco mint began producing Indian head pennies for the first time in history. That year, it made 1,115,000 coins with an S mint mark.
1908 Indian Head Penny value* |
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| Quality | 1908 | 1908 S |
| Good | $1.7 | / |
| Very good | $1.7 | $44 |
| Fine | $2.3 | $96 |
| Very fine | $3.1 | $94 |
| Extra fine | $5 | / |
| AU | $16 | $219 |
| UNC | $40 | / |
*by Numista
Due to this specificity, this coin value is about $80 for a specimen with a good rating. However, the MS 65 grade increases its value to almost $2,000.
1908 Indian Head Penny Rarities and Key Dates
For the 1908 Indian head penny, there are no coins with errors or key words that stand out from the standard piece.
1908 Indian head penny value* |
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| Coin | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1908 | $0.75 to $1 | $2 to $2.5 | $6 to $6.5 | $28+ |
| 1908 S | $35 to $38 | $70 to $75 | $120 to $130 | $220+ |
*by Coinflation
1908 Indian Head Penny Grading
You surely look for the 1908 Indian head penny in the mint state for your collection. Since most coins were in use in everyday life, there are very few pieces you can find in the highest grades.
1908 Indian head penny value* |
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| Quality | 1908 | 1908 S |
| Good | $1.4 | $67 |
| Very good | $2.1 | $86 |
| Fine | $3.3 | $95 |
| Very fine | $3.8 | $120 |
| Extra fine | $7.6 | $165 |
| Uncirculated | $23.7 | $245 |
| Brilliant uncirculated brown | $150 | $665 |
| Brilliant uncirculated red/brown | $165 | $1,045 |
| Brilliant uncirculated red | $475 | $2,470 |
*by Hobbizine
It is advisable to leave the assessment of the coin’s condition to an expert. However, you can do it yourself by following the recommended guidelines if you are an experienced collector.
Uncirculated – The coin rated this way has never been in circulation, so it is now in perfect condition. Its surface still has its original luster, and the relief is intact.
On closer inspection, you will notice that the feather tips are clearly visible, and the letters are clear and legible. However, a penny from 1908 rated this way is very difficult to find.
1908 Indian head penny value* |
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| Quality | 1908 | 1908 S |
| Good | $1.5 to $2 | $94 to $122 |
| Very good | $2.1 to $2.5 | $108 to $133 |
| Fine | $2.4 to $3.2 | $130 to $164 |
| Very fine | $3.4 to $5.3 | $143 to $195 |
| Extra fine | $6.7 to $16.2 | $208 to $247 |
| AU | $23 to $35.6 | $234 to $359 |
| MS 60 | $40.5 to $48.6 | $325 to $374 |
| MS 61 | $45.9 to $55 | $338 to $389 |
| MS 62 | $59 to $71 | $390 to $448 |
| MS 63 | $78 to $94 | $494 to $568 |
| MS 64 | $94 to $113 | $650 to $780 |
| MS 65 | $143 to $172 | $1,090 to $1,230 |
| MS 66 | $338 to $406 | $1,560 to $1,880 |
| MS 67 | $1,690 to $2,020 | / |
*by Greysheet
Extra fine – This coin was in circulation for a short time and avoided any significant damage. In addition to a few scratches, you can see damage signs on Lady Liberty’s hair just above her ear.
You can also notice slight cheek flattening on her face, just below the eye, and the letters in the word LIBERTY on the headband are clear and sharp.
Fine – The fine rating indicates that the coin was in circulation for some time, resulting in moderate signs of wear. You can see more scratches on its obverse and reverse.
The relief shows Lady Liberty’s hairline and headband merging, but the major feather details are present. The inscription LIBERTY is still legible even though it shows signs of wear.
1908 Indian head penny value* |
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| Quality | 1908 red/brown | 1908 red | 1908 S red/brown | 1908 S red |
| MS 61 | $61 to $73 | $94 to $113 | $410 to $471 | / |
| MS 62 | $74 to $89 | $122 to $140 | $488 to $561 | / |
| MS 63 | $101 to $122 | $169 to $203 | $650 to $682 | $1,090 to $1,250 |
| MS 64 | $162 to $195 | $286 to $343 | $890 to $1,020 | $1,560 to $1,800 |
| MS 65 | $260 to $299 | $708 to $844 | $1,500 to $1,720 | $2,310 to $2,660 |
| MS 66 | $520 to $598 | $1,560 to $2,000 | $2,500 to $2,880 | $4,750 to $6,880 |
| MS 67 | / | $18,000 to $20,700 | / | $25,800 to $33,600 |
*by Greysheet
Good – A coin like this one shows the most signs of wear and tear. Numerous scratches are present, its rim is damaged, and it sometimes can be bent.
Only the area between the chin and neck is visible on Lady Liberty’s face, while the other relief parts are smooth. The inscriptions and the minting date are worn out but visible.
Summary
The 1908 Indian head penny owes high popularity to its age, but it is hard to find a piece in perfect condition after a century. Without a doubt, this piece will be an impressive addition to your collection, especially if you find a rare specimen from the San Francisco mint.
