Found one in your attic, backyard, or a safe, or got to know from a fellow collector? These Indian Head Pennies are collector favorites. The 1906 Indian Head Penny is among the most highly desired pennies from 1859 to 1909 by the United States Bureau of the Mint.
The Indian Head Penny, or the Indian Head Cent, dated 1906 and struck at the Philadelphia Mint, had a mintage of 96,022,255, the second highest behind 1907 (108,138,618 cents). While the proof version of these coins was only 1,725 coins. In the contemporary market, the 1906 Indian Head Penny would be worth anywhere from $4 to $2,750, going up to $30,550 depending on condition and grade.
The Indian Head Penny was released right before the Civil War, that made these coins rooted with the American history for their value.
The design of the Indian Head Penny was pretty much consistent throughout its tenure. However, the design experience a major change on the reverse in 1859, one year after its introduction. The coin was designed by James B. Longacre, the Chief Engraver at the Philadelphia Mint.
The obverse side of the Indian Head Penny portrays a jawdropping display of beauty in simplicity with the deep connection with the American roots. The design features a bust of Lady Liberty wearing a full headdress with the headband that reads “LIBERTY.” Goddess Liberty is depicted wearing a pearl necklace being surrounded by the inscriptions “UNITED STATES OF AMERICA 1906,” representing the country of issue and year.
The 1906 Indian Head Penny’s reverse includes the updated reverse by James B. Longacre. The updated reverse (1859) depicts two oak wreaths tied at the ends with arrows and a shield at the top. The shield depicts divided portion that represents the initial 13 colonies of the US Union. Along with this depiction is the imprint of denomination as “ONE CENT.”
The 1906 Issue of the Indian Head Penny comprises of 95% copper, and 5% tin and zinc, which was utilized from 1864-1909.
The 1906 Indian Head Penny sure is a rare coin. Adding to its value, are its rare errors that significantly increase the value. Here are the two main errors of the 1906 Indian Head Penny:
The 1906 Indian Head Penny was primarily struck in the Philadelphia Mint facility of the US Mint. It was struck in normal BU and proof conditions. Here is the mintage of these types:
| BU Condition | Proof Condition |
|---|---|
| 96,022,255 | 1,725 |
Since, the coin had a relatively high mintage, precisely being the second largest, these coins have great availability. With these, the coins with errors and variations are also involved. The Indian Head Pennies were one of the most popular coin series across the world, thus it experience considerable counterfeiting.
The value of the 1906 Indian Head Penny is inclusive of the rarity, the coin’s condition, features, and the remarkable errors.
The Indian Head Penny was minted in the BU and Proof conditions. However, in the availability in the current market, the conditions are from, Poor (PO-1) to Uncirculated. These conditions heavily contribute in the valuation of the Penny.
Secondly, the probability of finding a coin with the excellent condition and notbale error is relatively less. Since, most of the normal BU coins were widely produced, their high availability makes them great choice for some extra cash.
If you stumble upon a 1906 Indian Head penny, you will definitely wonder, How much is the 1906 Indian head Penny worth today? As mentioned, determining the worth of the coin is dependent on several factors. However, the primary way to measure the value of the penny is with its condition.
| Condition | Good | Fine | Extremely Fine | Uncirculated |
|---|---|---|---|---|
| Value | $2 | $5 | $10 | $20 |
The 1906 Indian Head Penny with Fine condition fetches up to $4, and the one with uncirculated condition can go up to $20. For coins in proof finish, they can fetch around $2,250, which grows more depending on the coin grade.
Caring for your 1906 Indian Head Penny is no different than taking care of other rare coins. However, you need to consider the metal composition before using a cleaning material on the coin. It is necessary to follow these aspects to make sure your penny lasts long.
1. Handle with care - Always try to avoid fingerprints and oils on the coin. Preferably use gloves when handling the coins.
2. Secure Storage - Use a secure storage unit like a coin capsule, or soft pouch that secures the coin from dust and moisture.
3. Professional Consultancy - Take it for a professional maintenance clean once a while. This also includes getting a grade for your precious coin.
Finding one of these pennies in the backyard means money, means value. The 1906 Indian Head Penny is among the greatest coins in American coinage history making them great collectibles with value. If you found one, and are looking to sell it, the best response for where to sell the 1906 Indian head Penny is to find reputable websites and possibly visit a nearby pawn and antique shop.
The 1906 Indian Head Pennies surely are works of art and technology, that blend simplicity with craftsmanship brilliance. In the contemporary market, these features are widely utilized in bullion and jewelry, now available at BOLD with exciting discounts!
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