The 19th century produced several U.S. pennies that are now highly coveted by collectors due to their rarity and historical importance. Owning one of these rare coins could mean possessing a small fortune. Here are six such pennies from the 1800s that could be hiding in your collection.
1. 1856 Flying Eagle Cent
The 1856 Flying Eagle cent is a pattern coin, which means it was produced in limited numbers to test a new design for the small cent. Only about 634 of these coins were minted, making them extremely rare. In average condition, a 1856 Flying Eagle cent can be worth approximately $8,000. However, specimens in mint condition can reach values up to $25,000.
2. 1864 Indian Head Penny with “L” on Ribbon
This special version of the 1864 Indian Head penny features an “L” on the ribbon, a mark left by the coin’s designer, James B. Longacre. Pennies in good condition are valued at around $68, but if you have one in uncirculated condition, it can be worth as much as $519. Proof versions of this penny are even more desirable, with some fetching prices that can soar above $34,000.
3. 1872 Indian Head Penny
The 1872 Indian Head penny is another valuable coin from the 1800s. Although it’s more common than some others, it still carries significant worth. In average condition, it can be valued at around $80, while mint-condition versions can command up to $1,350.
4. 1877 Indian Head Penny
The 1877 Indian Head penny is considered one of the most prized coins in the series, primarily due to its low mintage. A well-preserved example of this coin can be worth around $725, but those in mint condition can fetch even higher values, making it a top target for collectors.
5. 1888/7 Indian Head Penny (Overdate)
The 1888/7 Indian Head penny is a rare overdate variety, where the 1888 was stamped over a 1887 date. Because of its rarity, well-preserved examples of this coin can fetch eye-watering prices. One such penny was sold for a record $72,000 at a Heritage Auction in 2019, proving its tremendous value among serious coin collectors.
6. 1894 Indian Head Penny
The 1894 Indian Head penny is notable for its “Red” designation, indicating that it has retained its original copper color. Copper coins are prone to oxidation over time, making well-preserved examples rare and valuable. For instance, a similar “Red” Lincoln penny from 1909 sold for over $20,000 at auction, highlighting the premium placed on these well-maintained pennies.
Coin Value Summary
| Coin Type | Year | Distinct Feature | Approx. Value (Good Condition) | Approx. 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 | Higher values |
| Indian Head Penny | 1888/7 | 1888 over 1887 | Significant auction values | $72,000 (auction) |
| Indian Head Penny | 1894 | “Red” designation | High auction values | Over $20,000 (similar examples) |
These rare 1800s pennies are highly sought after, and their worth can fluctuate depending on their condition, rarity, and demand in the market. If you believe you own any of these pennies, it’s highly recommended that you have them appraised by a professional to discover their true value.
Frequently Asked Questions
What makes the 1856 Flying Eagle cent so valuable? The 1856 Flying Eagle cent is considered valuable because it was minted in limited numbers as a pattern coin, meant to test a new design for the small cent. The low production numbers make it an extremely rare coin.
How can I identify the 1864 Indian Head penny with the “L” on the ribbon? Look closely at the ribbon behind the Indian Head’s neck, just below the bottom feather. The small “L” there indicates the designer’s mark, distinguishing this coin from other 1864 Indian Head pennies.
Why is the 1877 Indian Head penny highly sought after? The 1877 Indian Head penny has one of the lowest mintage figures in the series, which makes it highly desirable among collectors. Its scarcity and historical significance make it a sought-after treasure in the world of coin collecting.
By checking your collection, you might find that one of these rare pennies could be worth far more than you expected.
