The Indian Head Penny, minted from 1859 to 1909, is a classic American coin that's highly sought after by numismatists. Its rich history and striking design make it an attractive addition to any collection.
Produced in the early 20th century, the 1907 Indian Head penny has particular appeal due to its rarity and condition. This article will explore both the history of this fascinating coin and its current market value.
Struck at three different United States Mints (Philadelphia, San Francisco, and Denver) between 1907-1908, the 1907 Indian Head contains 95% copper with 5% tin & zinc added for durability. The obverse features Liberty wearing a feathered headdress while the reverse bears a shield surrounded by oak branches; both sides are encircled by thirteen stars representing each original colony. It's truly a work of art!
History Of The Indian Head Penny
The Indian Head penny has a long and storied history, as ancient as the ages of civilization itself. It is an artifact of time passed, each copper-clad coin telling its own unique tale. As numismatists hold these coins in their hands, it's almost like they can feel the stories that each one holds within them; tales of adventure and discovery, wealth and loss, joy and sorrow.
The Indian Head penny was first minted in 1859 by James Longacre to replace the Flying Eagle cent issued from 1856–1858. The obverse design was changed from Lady Liberty wearing a coronet bearing the word 'Liberty' to an allegorical figure with feathered headdress representing Native Americans.
This new design created quite a stir among citizens at the time due to its boldness and lack of precedent for depicting indigenous people on U.S. currency before then. Though production ceased in 1909 when Lincoln cents replaced all other denominations except pennies, this iconic coin still captures our attention today as we remember days gone by - where men built empires out of nothing more than hard work and determination - while also reflecting upon how far society has come since then.
1907 Indian Head Penny Mintage
The 7 Indian Head Penny Mintage is an interesting phenomenon for numismatists due to the high value and rarity of these coins.
Most of the coins were minted in Philadelphia, although some were also produced in San Francisco and a few in New Orleans and Carson City.
The mintage figures vary by year, with some years having fairly high numbers and some having very low numbers. Generally speaking, the total mintage per year is typically less than 10 million.
As a result, these coins tend to be very valuable and quite rare, with some years being especially hard to find. Collectors who are lucky enough to find a 7 Indian Head Penny in good condition can be sure that it will be worth a considerable amount.
Mints And Locations
In 1907, the Indian Head penny was minted in three locations: Philadelphia, Denver and San Francisco. This makes it a great coin for collectors to look out for due to its regional appeal. Each of these mintage locations had their own distinctions that make them all unique types of coins.
The most common of the three is the Philadelphia Mint which struck over 12 million pennies that year - making it one of the largest production runs ever made by any single mint.
The second most popular location would be Denver with approximately 3 million pieces produced while San Francisco only managed just over 1 million. All these coins were given a “P” or “D” or 'S' mint mark respectively so they can easily be identified from each other if found in circulation today.
These coins are valuable not only for their rarity but also for their beauty; many examples have been found in near perfect condition owing to their age, location and production methods used back then. Collectors will pay handsomely for well-preserved specimens as this type of coinage does not come around everyday!
Mintage Figures
Mintage figures for the 1907 Indian Head penny are quite interesting. As mentioned earlier, Philadelphia had the largest number of mintage with over 12 million coins produced that year.
Denver was a distant second at 3 million and San Francisco came in third with only 1 million pieces minted. This makes them difficult to find but highly sought after by collectors who appreciate their rarity.
Each coin has its own unique trait depending on where it comes from as each location features different production methods, which can be easily identified by the 'P,' 'D' or 'S' mint mark on them.
No matter how you look at it, these pennies offer something special that other coins simply cannot replicate - they are truly one-of-a-kind!
Value And Rarity
The value and rarity of the 1907 Indian Head penny is something that makes it highly sought after by collectors. It's estimated that these coins can be worth anywhere from $1 to upwards of $50, depending on their condition. This varies greatly due to the limited mintage figures for each location- Philadelphia produced over 12 million pieces while Denver created 3 million and San Francisco just 1 million.
As such, they are much harder to find than other coins from this era, making them incredibly valuable. One thing that sets these pennies apart from others is their ability to tell a story about the region in which it was made - each coin has its own unique trait thanks to different production methods at each mint based on the 'P,' 'D' or 'S' marking stamped onto them.
Obverse And Reverse Design
The obverse of the Indian Head Penny features a profile portrait of Lady Liberty. Her hair is adorned with a feathered band, and she wears an elaborate headdress composed of a traditional Native American feather bonnet. She faces leftward and gazes intently into the distance.
The word 'Liberty' appears above her head in raised lettering, and beneath her chin are thirteen stars for each state in the Union at that time.
The reverse design of the Indian Head Penny is equally intricate. It consists of an oak wreath encircling one large central numeral denoting its denomination: '1 cent'. Within this circle are two crossed arrows symbolizing peace, as well as ears of wheat to represent prosperity. Above it all is perched an eagle spreading its wings protectively over America's national motto: 'E Pluribus Unum', or 'Out Of Many One.'
Thus, through its artwork alone, the Indian Head Penny conveys powerful messages about strength, unity, freedom and hope; encapsulated within a perfectly balanced blend of classicism and modernity that has made it beloved by collectors since its release over 150 years ago.
Composition Of The 1907 Indian Head Penny
The composition of the 1907 Indian Head Penny has long been a source of debate among numismatists. It is widely believed that this penny was minted from copper-plated zinc, however some argue it may have actually been made from bronze or brass. To get to the bottom of this mystery, let's examine the facts.
One way to determine the makeup of a coin is by its weight and size. The 1907 Indian Head Penny weighs 3.11 grams and measures 19 millimeters in diameter. This falls within standard parameters for coins produced during this period - many pennies were comprised of 95% copper with 5% tin and zinc added as hardeners, while others included up to 8% nickel and other metals such as manganese.
Another method used by collectors is chemical analysis which can provide more definitive information about composition:
- Copper: Can be identified through its reddish hue when rubbed on an unglazed porcelain plate and also reacts to dilute nitric acid producing green fumes.
- Zinc: Produces white fumes when exposed to boiling hydrochloric acid, making it easy to detect even in small amounts.
- Tin: Dissolves slowly in aqua regia (nitro-hydrochloric acid) leaving behind a black residue on the surface of the solution.
- Nickel: A silvery metal that produces yellow fumes when treated with hot concentrated sulfuric acid and does not dissolve in aqua regia like other base metals do.
Based upon these tests, we can confidently conclude that the 1907 Indian Head Penny was indeed made out of copper plated zinc alloy – lending credence to its classification as one of America’s most iconic coins!
Current Market Value Of The 1907 Indian Head Penny
The 1907 Indian Head Penny is one of the most sought after and desirable coins in American numismatics. For many collectors, this coin evokes a sense of nostalgia as it was minted during the early days of the 20th century when America experienced rapid industrialization and economic growth.
With such great historical significance, it's no surprise that these coins have been steadily increasing in value since their initial mintage over a century ago. At present, grade-specific values for the 1907 Indian Head Penny range widely depending on its condition; however, in general a typical specimen can fetch anywhere between $1 to $15 per piece while higher grades may yield up to several hundred dollars or more.
Moreover, if you happen to own an uncirculated example then you could potentially be looking at thousands of dollars due to its scarcity and desirability amongst enthusiasts. In light of all this information, it's clear that owning a 1907 Indian Head Penny is still very much attainable despite its considerable age and popularity with collectors - although prices will naturally vary depending on various factors like grade, luster and overall eye appeal.
Regardless, it remains an iconic representation of US currency which should continue to appreciate in both financial and sentimental worth for years to come.
Frequently Asked Questions
What Is The Rarest 1907 Indian Head Penny?
As a numismatist, I can tell you that the rarest 1907 Indian Head penny is an exciting prize for any collector. It's like finding a needle in a haystack!
This classic coin was minted at the turn of the century and still stands as one of America's most iconic pieces of currency. Its rarity makes it highly sought after by collectors all over the world.
With its old-school design featuring Lady Liberty with her feathered headdress, this penny has become somewhat of a time capsule that takes us back to simpler times.
What Is The Best Way To Store A 1907 Indian Head Penny?
As a numismatist, it is important to ensure the proper storage of your coins. This rings true for any type of coin, including the 1907 Indian Head Penny.
The best way to store such a penny is by keeping it in an airtight container with desiccant packets or silica gel crystals, like those found in pill bottles and food packaging. Doing this will help maintain the condition of your coin as well as keep out dust and moisture that can damage its surface.
How Many 1907 Indian Head Pennies Were Minted In Total?
The topic of how many coins were minted in total is a timeless numismatic question.
The number of Indian Head pennies produced in 1907 was 11,250,000 pieces.
These coins are a staple in the coin collecting community and continue to be highly sought after due to their rarity.
Although there aren't as many surviving examples from this particular year than other years, it's estimated that nearly half the original mintage still exists today - making them a great addition for any collector looking to add an iconic piece of American history to their collection!
Are There Any Special Features To Look Out For On The 1907 Indian Head Penny?
The 1907 Indian Head Penny is a popular coin among numismatists, and there are many special features to look out for.
The obverse of the penny has Lady Liberty wearing an elaborate feathered headdress, with 13 stars surrounding her.
On the reverse of the penny is an intricately detailed American Eagle surrounded by a wreath - these details can often be difficult to make out due to wear over time.
Collectors should also watch for die cracks on both sides of the coin that indicate it was struck multiple times in production.
Lastly, one of the most sought after characteristics is full luster or original mint bloom which gives off a vibrant sheen when viewed under light.
Are There Any Counterfeits Of The 1907 Indian Head Penny?
Counterfeiting of coins is nothing new and the 1907 Indian Head Penny is no exception. In fact, it has been estimated that as many as 1 in every 10 1907 Indian Head Pennies may be counterfeits.
Numismatists agree that this makes authenticating these coins especially challenging due to their age and condition.
To avoid falling victim to counterfeiters, collectors should always research any piece they are considering purchasing thoroughly before making a purchase.
Conclusion
The 1907 Indian Head Penny is a truly remarkable coin that has stood the test of time.
This penny, which was minted in total amounts of over 27 million coins, is now highly sought after by numismatists and collectors alike for its rarity and historical significance.
With so many counterfeits on the market today, it's important to be sure you know exactly what features to look for on your 1907 Indian Head Penny before making any purchase.
As they say, 'buyer beware,' but with proper storage and knowledge, this stunning piece of history can be preserved and enjoyed for years to come.