The history of U.S. pennies is fascinating, with many varieties and rare coins fetching astonishing prices in today’s collectors’ market. From errors to limited mintages, certain pennies from the 1800s are especially sought after. If you happen to stumble across one in your collection, it might be worth far more than its face value. Here are six valuable pennies from the 19th century that collectors treasure.
1. 1856 Flying Eagle Penny
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Auction Record: $172,500
This penny holds historical significance as one of the first smaller-sized U.S. coins, minted a year before the official circulation began in 1857 , according to the Numismatic Guaranty Company. With only 634 proof coins minted, the 1856 Flying Eagle penny is exceptionally rare. In average condition, CoinTrackers.com estimates it’s valued at approximately $8,000, while a mint state example can fetch as much as $25,000. At auction, one specimen even reached a record-breaking $172,500.
2. 1864 Indian Head Penny with “L” on Ribbon
Auction Record: $34,075
The 1864 Indian Head penny stands out due to the small “L” inscribed on the ribbon behind the Indian’s head, signifying designer James Longacre. Even in lower grades, it can be worth around $68, while uncirculated examples are valued at $519. According to USA Coin Book, The rare proof version, prized by collectors, can command over $34,788 at auctions.
3. 1871 Indian Head Penny
Auction Record: $60,375
Part of the Indian Head, Shield Reverse series minted from 1859 to 1909, the 1871 penny is another coveted piece. In average condition, it is valued at around $60, but in pristine mint state, its worth skyrockets to $875. The highest recorded auction price for this coin is $60,375, highlighting its desirability among collectors.
4. 1872 Indian Head Penny
Auction Record: $126,500
The 1872 Indian Head penny is considered one of the rarer coins in this series due to its limited mintage. While its value starts at $80 in average condition, it can soar to $1,350 in mint condition. A top-quality specimen once fetched a staggering $126,500 at auction, making it one of the most valuable coins of its kind.
5. 1873 Indian Head Penny (Closed 3)
Auction Record: $54,625
The 1873 Closed 3 variety is identifiable by the unique appearance of the “3” in the date, which looks thicker and closer to resembling an “8.” This subtle difference makes it highly collectible. While its value begins at $20 for coins in average condition, mint state examples can bring in as much as $10,000. Proof coins are even more valuable, with some selling for tens of thousands at auctions.
6. 1888/7 Indian Head Penny
Auction Record: $72,000
The 1888/7 Indian Head penny is a famous overdate variety where the “8” was struck over a previously engraved “7.” This creates a distinctive overlap visible under magnification. These coins are exceptionally rare, particularly in uncirculated condition. Auction prices for high-grade examples have reached up to $72,000, making it one of the most sought-after coins in the series.
Why Are These Coins So Valuable?
Several factors contribute to the value of these pennies, including rarity, historical significance, and condition. Coins with errors, limited mintages, or unique features tend to attract more attention from collectors. Additionally, coins in mint or uncirculated condition are far more valuable than those that show wear and tear.
Tips for Identifying Valuable Pennies
- Look for Distinct Features: Examine coins for unique details such as mint marks, inscriptions, or overstrikes.
- Check the Year and Condition: Older coins, especially those in good condition, are typically more valuable.
- Consult Experts: If you suspect a coin might be valuable, seek professional evaluation or grading services.
Conclusion
Owning a penny from the 1800s is like holding a piece of history. Whether passed down through generations or stumbled upon in a collection, these coins are worth investigating. With values ranging from hundreds to hundreds of thousands of dollars, it’s worth checking your change jar—you never know what treasures might be hidden there.
