Coin Value Finder » 1893 Indian Head Penny Value: are No mint mark worth money?

1893 Indian Head Penny Value: are No mint mark worth money?

Each coin comes with a certain worth. And if you’re wondering what is the current 1893 Indian head penny value, you’re right on track! We will uncover all the relevant information, including the key details about the coin, from the physical dimensions to the varieties in the market.

Additionally, we will discuss how this coin has evolved over the years–its history and errors in production. So, let’s delve into this specific coin and learn everything that might be helpful in your own quest.

1893 Indian Head Penny Value Details

  • Category: Indian Head
  • Mints: Philadelphia
  • Total mintage: 46,642,195
  • Obverse designer: James B. Longacre
  • Reverse designer: James B. Longacre
  • Edge: plain
  • Diameter: 19.05 mm (0.750 in)
  • Thickness: 1.47 millimeters
  • Composition: 95% copper and 5% tin & zinc
  • Weight: 3.11 g

Minted in Philadelphia, the 1893 Indian Head penny was created by the reputable engraver, James Longacre. Because of the headdress on the obverse side, many assumed that it was an Indian warrior. But without prejudice to the native Americans, Longacre stated that it was actually Lady Liberty.

Unlike other coins, the design of the 1893 Indian Head penny is somehow quite straightforward, featuring only minimal adornments. Aside from the date and the country name, there’s only an oak wreath fringed by a shield on the upper section and three arrows and a ribbon on the lower side.

Moreover, these coins do not have the “E PLURIBUS UNUM” as well as “IN GOD WE TRUST” inscriptions. It’s because these coins were created even before the approved law-based design for American coinage.

While the general 1893 Indian Head pennies were considered simple in terms of design, the proof ones were actually very beautiful. Using special dies, the colors of the proof Indian Heads exuded a hint of red and purple hues.

There was a total of 46,642,195 coins produced, 2,195 of which were proof coins. And fascinatingly, the 1893 Indian Head penny was one of the country’s longest-running coin series. This is one of the main reasons why collectors are lured to get this coin series despite being on the affordable spectrum.

Accordingly, this specific year’s production encompassed at least one key date and several coin varieties. Because of this, dedicated collectors are inclined to complete the series.

Depending on the variety and the condition of the coin, the value ranges between $2,500 and $14,000. And although this particular coin is inexpensive compared to other series, its value relatively increases with uncirculated ones that are in excellent condition.

1893 Indian Head Penny Value Chart

Mint Year Good Fine Extremely Fine Uncirculated MS 60 MS 63 Proof 63
1893 Indian Head Penny $3.3 $5.7 $23 $31 $67 $91 $169

1893 Indian Head Penny Value and Varieties

1893 Indian Head Penny value

1893 Indian Head Penny Value

  • Type: Indian Head
  • Edge: Plain
  • Mint mark: None
  • Place of minting: Philadelphia
  • Year of minting: 1893
  • Face value: $0.01
  • $ price: $3.3 to $25,000
  • Quantity produced: 4,662,024
  • Designer: James B. Longacre

Among collectors and coin enthusiasts, the 1893 Indian Head penny is tagged as a standard coin with minimal worth. Its value ranges from $3.3 for coins in good condition to $31 for uncirculated ones. More so, coins that are in mint state are more attractive financially, though this can be a challenge to find.

The standard Indian Head penny is further categorized into different color variations―BN for brown, RB for red brown, and RD for red. The reason for such is because of the properties of copper that impact the colors of the coins over time.

So, the coins were normally produced with a reddish tone and may acquire brown streaks due to oxygen contact. Accordingly, if the coin has no signs of wear and discoloration, perhaps in almost perfect condition like MS 67, then the value would be around $20,000 or may even reach up to $25,000.

An 1893 Indian Head penny with an MS 67 grade is often considered a rare piece, hence the expensive rate. On the other hand, coins that have reddish brown shades are valued starting at $100 (MS 63) to $460 (MS 65). Likewise, a red-brown MS 66 coin in pristine condition with full luster can go as high as $1,400.

Meanwhile, if you’ve got brown 1893 Indian Head pennies, the buying or selling price may not be that attractive. In fact, brown coins in good condition may only be priced between $1.75 to $2.1. Extra fine coins, these range from $8 to $12. And of course, higher grades like MS 66 can be valued up to $550.

1893 Proof Indian Head Penny value

1893 Proof Indian Head Penny value

  • Type: Indian Head
  • Edge: Plain
  • Mint mark: None
  • Place of minting: Philadelphia
  • Year of minting: 1893
  • Face value: $0.01
  • $ price: $110 to $ $4,370
  • Quantity produced: 2,195
  • Designer: James B. Longacre

With just 2,195 coins minted, the 1893 Proof Indian Head pennies may be considered rare specimens of the Indian Head series. These coins are quite exceptional in terms of colors because of the usage of special dies. As a result, the polished planchets shine beautifully, especially the red ones.

Considering the limited number of proof coins, the value of these pennies is on the higher section. In fact, an 1893 proof BN Indian Head coin with a PR 60 grade can be purchased for $110 while PR 67 of the same category generally costs around $2,750 to $3,250.

Reddish brown coins, on contrary, are valued starting at $135 for PR 60 and $3,750 for PR 67. And lastly, rare, red pennies that are fully struck with no visible imperfections may reach from $3,800 up to $4,370.

And did you know that a certain 1893 PR 66 Indian head penny was paid at a much higher price? Back in 2006, an 1893 PR 66 Indian head penny was valued at $6,325 during a Heritage. Consequently, it became the most expensive proof Indian Head coin of the 1893 series.

Also Read: Top 15 Most Valuable Indian Head Penny Worth Money

1893 Indian Head Penny History

1893 Indian Head Penny History

With a very extensive history in American coinage, the Indian Head coin series began in 1859 and lasted up to 1909. Accordingly, it’s dubbed as the replacement of the Flying Eagle series, which was stopped due to production issues.

During the minting of the initial versions of the Indian Head penny, the weight of the coins was 4.67 g. This was evident until the alterations were made in 1864. The changes in the composition, from tin and zinc to nickel, led to the new weight of 3.11 g.

More so, the copper content was increased and the wreath was modified. Because of the modifications in the weight, the Indian Head pennies became the first small cent in the US. Another relevant thing to take note of about these coins is the fact that there were also alterations to the copper content.

Before 1864, the Indian Head pennies contained 88% copper. All coins produced after that year were 95% copper. Also, the earlier versions do not have the wreath on the reverse side. The wreath design was later added in 1860.

The year 1893, however, marked the start of an economic depression referred to as the Panic of 1893. The economy spiraled down after the collapse of the biggest employers in the country, which were the Reading Railroad of Philadelphia and the National Cordage Company of New Jersey.

The failure of reputable companies resulted in a stock market panic as well as political upheaval. Consequently, from over 46 million coins minted in 1893, there was a significant decrease in production in the next year, falling to 16,752,132.

In the subsequent years, the minting of these coins was steady. And by 1897, production hit back to normal as the economic depression ended. The production of the Indian Head pennies even hit the 100-million mark in 1907, which then became the highest mintage of the coin series.

Since there was a significant number of Indian Head pennies released in 1893, these are quite easy to find compared to the other coin editions. And even if these are technically centuries-old coins, the 1893 edition is considered part of the new generation of the Indian Head collection.

Furthermore, collectors are interested in completing the Indian Head coin collection because of its role in the historical coin series. So, with the passing of each year, the 1893 Indian Head penny becomes scarcer.

Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)

1893 Indian Head Penny Grading

In general, the 1893 Indian head penny value is regarded to be low-grade. One of the main reasons why this coin edition is not significantly valuable is due to the fact that these are still largely existent even in the current market. But of course, the worth of the coins relatively increases according to their condition.

List of 1893 Indian Head Penny Error

Compared to other Indian Head Penny editions, the 1893 coins only have minimal errors in production. And depending on the imperfections, some collectors may find these errors to be fascinating, hence a possible increase in their worth.

However, there are also others who consider the errors to be the basis of low value. Therefore, it’s important to have an idea of the common errors of these coins for reference.

1. 1893 Indian Head Penny Misaligned Strike

1893 Indian Head Penny Misaligned Strike

One of the most common issues in coin production is the misalignment of die strikes. This happens if the hammer die is not evenly lined up with the chamber. So, during the striking of the coin, the obverse side of the chamber is not on the center but rather near the edge.

It should be noted that a misaligned strike only appears on one side―in this case, the obverse side. Hence, the other side, or the reverse section, features a normal alignment. There is another term if the misalignment is on both sides, and that is an off-center strike, which means that a punch is not on the coin’s center.

Typically, an 1893 Indian Head Penny with a misaligned strike is valued at $10. However, there may be coins that have higher paying prices, depending on the condition of the coin. And of course, red pennies pay well compared to brown ones.

2. 1893 Indian Head Penny Struck-through a Foreign Object

1893 Indian Head Penny Struck-through a Foreign Object

Although not a typical error, there were some 1893 Indian Head pennies that had stuck through with a foreign object. This particular error occurs when the planchet was fed into the striking chamber with a foreign material or an unwanted resource comes in between the planchet and the die.

Because of the interruption during the striking process, the coin is stuck through the foreign material, hence the name of the error. Consequently, this error creates a certain imprint on the coin’s surface, embedding the design of the external object.

Some of the common foreign elements that cause struck-throughs are tiny dust particles and other microscopic resources. Most of these do not provide an evident imprint on the coin, which means the value of the coin is not significantly affected.

However, there could be major struck-through errors that have a severe impact on the surface. And if you have an 1893 Indian Head penny with a significant struck-through issue that affected most of the coin designs, unfortunately, these cannot be numerically graded.

1893 Indian Head Penny FAQ

1. What are the most sought-after Indian Head pennies?

According to experts, the most valuable Indian Head pennies are those minted in 1877. Nonetheless, every edition of the Indian Head coin series is still valuable, especially those that are kept in excellent condition even after many centuries.

2. What is the rarest Indian Head cent?

The year 1877 had the lowest mintage of Indian Head pennies, with only less than a million in production. Because of the minimal mintage, this made the 1877 Indian Head coins the rarest among all Indian Head coins.

As reported, coins in average condition are valued at $1,226 whereas uncirculated ones settle around $4,333 to $5,126. Meanwhile, proof coins are more expensive, starting at $2,962.

3. What makes an Indian head penny rare?

One of the core reasons why Indian Head pennies are considered rare is the fact that these were created centuries ago. Minted from 1858 to 1909, these coin series are some of the priciest pennies at the present time.

1 thought on “1893 Indian Head Penny Value: are No mint mark worth money?”

  1. I have a coin or medallion marked 1893 with an Indian Head on the front and a cartouche on the reverse where the words “one cent” should be. However, the cartouche is blank. Can you tell me anything about this coin? The coin has a hole drilled at the top.


Leave a Comment