The 19th century gave us some of the most intriguing U.S. pennies, many of which have become treasures among collectors. Their rarity, historical context, and unique features have made them valuable investments. Owning one could mean having a coin worth thousands. Let’s cut into six rare pennies from the 1800s you might want to check your collection for.
Flying Eagle (1856)
The 1856 Flying Eagle cent is a true gem for collectors. As a pattern coin, it was produced in limited numbers—only about 634 exist. It was a prototype for a smaller cent design, making it historically significant and rare.
- Value: In good condition, expect around $8,000. Mint-state examples? A staggering $25,000.
This coin is a must-have for any serious collector, but acquiring one may require deep pockets!
Indian Head with “L” (1864)
The 1864 Indian Head penny stands out because of a tiny “L” inscribed on the ribbon. This design tweak was added to honor its creator, James B. Longacre, but not many of these were minted.
- Value: In average condition, they’re valued at $68, but uncirculated coins can hit $519. Proof coins? They’ve been auctioned for over $34,000!
That small “L” could spell a big payday if you find this penny in your collection.
Indian Head (1872)
The 1872 Indian Head penny has a low mintage, making it a hot item among collectors. Its rarity and connection to the economic struggles of the time increase its appeal.
- Value: Average condition pennies fetch around $80, while mint-state versions soar to $1,350.
If you come across one in pristine condition, you’re sitting on a valuable piece of history.
Indian Head (1877)
The 1877 Indian Head penny is arguably the most sought-after coin of the series. Why? Its low mintage makes it incredibly rare, especially for those in excellent condition.
- Value: Coins in good condition are worth $725, but mint-state examples command significantly higher prices.
This penny is a collector’s dream, so don’t overlook it in old collections.
Overdate Indian Head (1888/7)
The 1888/7 Indian Head penny is a fascinating overdate variety. It shows an 1888 date stamped over an 1887, creating a unique and rare collectible.
- Value: Incredibly rare, it has fetched up to $72,000 at auctions.
Finding one of these is akin to hitting the jackpot!
Indian Head “Red” (1894)
The 1894 Indian Head penny is prized for its “Red” designation, indicating that its original copper color remains intact. Due to natural oxidation, most copper coins lose their original hue, so well-preserved “Red” pennies are rare and valuable.
- Value: Similar “Red” pennies have sold for over $20,000 at auctions.
If you have a penny that gleams like new, it’s worth having it appraised.
Value Summary
| Coin Type | Year | Feature | Value (Good Condition) | Value (Mint State) |
|---|---|---|---|---|
| Flying Eagle Cent | 1856 | Limited mintage | $8,000 | $25,000 |
| Indian Head Penny | 1864 | “L” on Ribbon | $68 | $519 |
| Indian Head Penny | 1872 | Low mintage | $80 | $1,350 |
| Indian Head Penny | 1877 | Low mintage | $725 | Significantly higher |
| Indian Head Penny | 1888/7 | Overdate | Auction-level values | $72,000 (auction) |
| Indian Head Penny | 1894 | “Red” designation | High auction values | Over $20,000 (examples) |
These coins are proof that the smallest treasures can carry the largest value. If you think you’ve stumbled upon any of these, consult a professional appraiser to uncover their true worth.
FAQs
What makes the 1856 Flying Eagle penny rare?
It was a pattern coin with only 634 made.
What’s special about the 1864 penny?
It features an “L” honoring designer James B. Longacre.
Why is the 1877 Indian Head penny valuable?
Its low mintage makes it highly sought-after.
What is an overdate penny?
A coin showing a newer date stamped over an older one.
Why are “Red” pennies so valuable?
They retain their original copper color, which is rare.
