Most collectors consider the Indian head penny series the most popular next to the beloved Lincoln penny. These small cents are not particularly rare or valuable except for a few rare pieces and errors. The series was minted from 1859 to 1909 and changed its composition during the years.
Even though the 1897 Indian head penny value is almost insignificant, a few red pieces can be surprisingly valuable. For that reason, you should be careful when finding one of these old coins. Dedicated collectors are often prepared to pay a lot for a gorgeous specimen.
1897 Indian Head Penny History
Thanks to copper cost, the US Mint started with small cent production in 1859, and it lasted until 1909. Initially, chief engraver James Barton Longacre‘s design included a composition of 88% copper with nickel, but it was changed in 1864.
That year, the US Mint started to produce a coin with 95% copper with tin and zinc, while a weight of 0.16473 (4.67 g) was reduced to 0.10970 ounces (3.11 g).
1897 Indian head penny |
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Location | Year | Minted |
Philadelphia | 1897 | 50,464,392 |
Philadelphia | 1897 proof | 1,938 |
Total | / | 50,466,330 |
The 1897 Indian head penny is among the last minted pieces in the series, meaning these numerous classic American coins survived a century. Unfortunately, specimens in excellent condition are scarce and can be pricey when appearing on the coin market.
1897 Indian head penny |
|
Face value | 1 cent ($0.01) |
Compound | 95% copper and 5% zinc and tin |
Coin weight | 0.10970 ounces (3.11 g) |
Coin diameter | 0.74803Â inches (19 mm) |
Coin thickness | 0.05905 inches (1.5 mm) |
Shape | Round |
Edge | Plain |
Interestingly, the designer’s goal was to make the first American coin to pay tribute to proud Native Americans. However, he chose an unusual way to do that.
The name Indian head was a misnomer since the image on the coin obverse was actually Lady Liberty he created based on his daughter Sarah Longacre’s face.
1897 Indian head penny value* |
|
Quality | 1897 |
Good | $3.3 |
Very good | $3.9 |
Fine | $5.7 |
Very fine | $9.1 |
Extra fine | $17 |
AU | $28 |
MS 60 | $45 |
MS 63 | $74 |
PR 63 | $169 |
*by USA Coin book
Besides Lady Liberty wearing a headdress, you can see the country name, the UNITED STATES OF AMERICA, and the date on the obverse.
The reverse features the denomination ONE CENT in the coin’s center. It is surrounded by an oak wreath tied with a bow and three arrows at the bottom. You can see a shield with a symbolic number of horizontal and vertical stripes at the wreath top.
1897 Indian Head Penny Types
1897 Indian head penny
That year the Philadelphia mint produced 50,466,330 Indian head pennies, including 1,938 proofs. Their price is approximately $3 to $15 for pieces in low grades, while you need to set aside at least $25 for a penny in uncirculated condition.
1897 Indian head penny value |
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By JM Bullion | ||||
Year | Quality | |||
Good | Fine | Extra fine | Uncirculated | |
1897 | $3 | $5 | $15 | $25 |
By CoinStudy | ||||
Year | Quality | |||
Good | Fine | Extra fine | Uncirculated | |
1897 | $1.3 | $2 | $9 | $32 |
By Coinflation | ||||
Year | Quality | |||
Good | Fine | Extra fine | Uncirculated | |
1897 | $1 to $1.5 | $2.5 to $3 | $8 to $8.5 | $30+ |
It is possible to notice that coins in the mint state are divided into three groups, determining their value:
- Red Indian head penny is the most appreciated and expensive
- Red-brown Indian head penny is desirable among collectors but not the best option you can find
- Brown Indian head penny is the most common and inexpensive
1897 Indian head penny value* |
|
Quality | 1897 |
Good | $1 |
Very fine | $2 |
Extra fine | $3 |
AU | $20 |
MS 63 | $70 |
MS 65 | $260 |
PR 65 | $400 |
*by COIN HelpU
The most valuable specimens are the 1897 MS 67 red Indian head penny with a price of $12,500 to $18,000. The red-brown coin in the same grade will cost you $2,000 to $2,500.
1897 proofs
The Philadelphia mint struck 1,938 proof pennies in 1897. Their value depends on the condition and color. You can find red-brown proof coins for $200 to $400, but the one in PR 65 grade will be worth $780 to almost $900.
1897 proof penny value* |
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Quality | Proof red-brown | Proof red |
PR 60 | $176 to $211 | $260 to $300 |
PR 61 | $221 to $254 | $292 to $336 |
PR 62 | $260 to $300 | $325 to $374 |
PR 63 | $300 to $344 | $364 to $419 |
PR 64 | $422 to $486 | $585 to $673 |
PR 65 | $780 to $897 | $1,880 to $2,160 |
*by Greysheet
Red specimens are more appreciated and costly, and their prices go from $250 to about $700. Rare red PR 65 proof pennies can reach over $2,000 at auctions.
1897 Indian Head Penny Rarities
The 1 in Neck Indian head penny minted in 1897 is a popular variety in this particular series. You can effortlessly see the point of a 1 protruding from the Liberty’s neck.
Even though you can see this error in all grades, the most expensive are scarce pieces in the mint state. These variety gems are considered extremely rare. Besides each coin’s condition, their value varies, depending on the color.
1897 1 in neck Indian head penny value* |
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Quality | 1897 1 in neck brown | 1897 1 in neck red-brown | 1897 1 in neck red |
Good | $47.2 to $73 | / | / |
Very good | $74 to $105 | / | / |
Fine | $108 to $156 | / | / |
Very fine | $162 to $232 | / | / |
Extra fine | $260 to $336 | / | / |
AU | $325 to $650 | / | / |
MS 60 | $715 to $845 | / | / |
MS 61 | $845 to $960 | / | / |
MS 62 | $1,090 to $1,250 | $1,310 to $1,510 | / |
MS 63 | $1,380 to $1,810 | $2,000 to $2,300 | $3,000 to $3,500 |
MS 64 | $2,310 to $2,660 | $2,940 to $3,380 | / |
MS 65 | $3,120 to $3,590 | $4,500 to $5,180 | / |
*by Greysheet
You can find brown pieces in uncirculated grade for $1,000 to $3,500 on the coin market, while red-brown pieces can be worth up to $5,000. Rare 1897 MS 63 1 in neck red Indian head penny typically reaches $3,000 to $3,500.
1897 Indian Head Penny Grading
The best way to determine the 1897 Indian head penny value is to have it professionally evaluated. You can find two certification services in the US, PCGS and NGC.
Remember that their grading will increase your coin value. However, you can do the job yourself and estimate the group it belongs to.
Uncirculated – Since the 1897 Indian head penny is over 120 years old coin, it is almost impossible to find one in the mint state.
A saved specimen someone looked after for more than a century is undoubtedly valuable. You can see an original but a bit weaker luster and unchanged texture on its surface due to age.
1897 Indian head penny value |
|
Quality | 1897 |
Good | $1.6 |
Very good | $2.4 |
Fine | $3.8 |
Very fine | $4.7 |
Extra fine | $12.4 |
Uncirculated | $33.2 |
BU brown | $160 |
BU red-brown | $240 |
BU red | $855 |
*by Hobbizine
Extra fine – All the details on this coin are sharply defined since it spent a limited period in circulation. You can only notice slight flattening to Lady’s cheek and traces of wear on her hair above the ear. Imagery and inscriptions are visible with only several slight scratches on the surface.
Fine – This coin is still collectible despite moderately visible details and clear signs of wear. The ribbon behind Lady’s neck is a bit flattened but still separated from her hair.
Coin in this grade always contains inscriptions legible to the naked eye. Unfortunately, a long period of use affected the texture, so it looks worn out.
1897 Indian head penny value* |
|||
Quality | 1897 | 1897 red-brown | 1897 red |
Good | $1.5 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 $19.5 | / | / |
AU | $32.4 to $42.4 | / | / |
MS 60 | $47.2 to $55 | / | / |
MS 61 | $53 to $62 | / | / |
MS 62 | $66 to $78 | $81 to $96 | / |
MS 63 | $85 to $101 | $108 to $128 | $208 to $250 |
MS 64 | $108 to $127 | $188 to $221 | $390 to $468 |
MS 65 | $169 to $203 | $370 to $426 | $998 to $1,200 |
MS 66 | $390 to $455 | $845 to $1,090 | $4,380 to $5,250 |
MS 67 | / | $2,000 to $2,400 | $12,600 to $18,000 |
*by Greysheet
Good – After spending years in circulation, this coin is severely worn out with only a few remaining details and shallow relief. You can have an issue reading inscriptions and the date without using a magnifying glass.
The Lady’s bust is now only an outline without expected texture. However, some collectors will appreciate this piece because of its history.
Summary
As you can see, the Indian head penny minted in 1897 doesn’t contain precious metals and is not rare. However, its value can be significant, depending on the condition and demand in the current coin market. Interestingly, many dealers will generously pay for an exceptional specimen.