Listed below are the key dates and varieties for the Indian Head cents that were minted from 1859 to 1909. Read the descriptions carefully and study the photos to see if your Indian Head penny is worth more than you think. Over 13 million 1864 dated pennies were minted using the copper and nickel composition. Over 39 million 1864 dated coins were made with the bronze composition. The copper and nickel coins have a slightly silver-ish color to them, while the bronze coins have a deeper orange color. Circulated bronze coins have a brown patina to them, and the copper-nickel coins retain some of their silver color. The 1864 Indian Head penny that contained the copper-nickel alloys sells for about a 30 percent premium over the bronze alloy. This is the more common variety of the 1864 Indian Head penny. Therefore, it sells at a lower price than the variety with the “L” on the ribbon next to the last tail feather. This variety of the 1864 Indian Head penny normally sells for almost 4 times as much as the one without the “L” on the ribbon. However, beware of alterations on well-circulated coins. The positioning of the “L” in the design allows it to wear down before the rest of the design elements. Pay close attention can be on the lookout for fakes and forgeries that may be out there. When buying higher quality coins, make sure you buy from a reputable coin dealer and that they have been certified by a third-party grading service. This is the rarest and one of the most valuable Indian Head penny varieties found so far. Be cautious of unscrupulous coin doctors that have added a small lump to the bottom of the last “8” in the date. Be sure you purchase your coins from a trustworthy coin dealer and that the coin is certified by 1/3 party grading companies.
