The history of U.S. pennies is rich with fascinating stories, and many varieties from the 1800s are especially valuable to collectors. These pennies are prized for their historical significance, rarity, and unique features like minting errors or limited production runs. If you have one of these rare coins in your collection, it could be worth far more than its face value. Here are six 19th-century pennies that could potentially make you rich.
1. 1856 Flying Eagle Penny
Auction Record: $172,500
The 1856 Flying Eagle penny was one of the first small-sized U.S. coins, minted a year before regular circulation began in 1857. With only 634 proof coins minted, the 1856 Flying Eagle is incredibly rare. In average condition, it’s worth around $8,000, while mint-state examples can go for as much as $25,000. One specimen even fetched a staggering $172,500 at auction.
2. 1864 Indian Head Penny with “L” on Ribbon
Auction Record: $34,075
The 1864 Indian Head penny is notable for the small “L” inscribed on the ribbon behind the Indian’s head, signifying the work of designer James Longacre. Even in lower grades, this coin can be worth around $68, while uncirculated examples are valued at $519. A rare proof version can command over $34,000 at auctions, with the highest known auction price hitting $34,075.
3. 1871 Indian Head Penny
Auction Record: $60,375
Part of the Indian Head series minted from 1859 to 1909, the 1871 penny is highly sought after by collectors. In average condition, it’s worth about $60, but pristine examples can fetch as much as $875. The highest recorded auction price for this coin reached an impressive $60,375.
4. 1872 Indian Head Penny
Auction Record: $126,500
The 1872 Indian Head penny is one of the rarer coins in the series, largely 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 sold for a remarkable $126,500 at auction, showcasing its appeal to high-end collectors.
5. 1873 Indian Head Penny (Closed 3)
Auction Record: $54,625
The 1873 Closed 3 variety is identifiable by the distinct shape of the “3” in the date, which appears thicker and closer to resembling an “8.” This subtle variation makes it highly collectible. Coins in average condition begin at around $20, while mint-state examples can bring in as much as $10,000. Proof versions have fetched tens of thousands of dollars at auction.
6. 1888/7 Indian Head Penny
Auction Record: $72,000
The 1888/7 Indian Head penny is an overdate variety, where the “8” was struck over a previously engraved “7,” creating a distinctive overlap that can be seen under magnification. These coins are particularly rare, especially in uncirculated condition. Auction prices for high-grade examples have reached up to $72,000, making this one of the most sought-after coins in the Indian Head series.
Why Are These Coins So Valuable?
Several factors contribute to the value of these pennies, including rarity, historical significance, and condition. Coins with minting errors, limited mintage runs, or other unique features attract significant attention from collectors. Furthermore, coins in mint or uncirculated condition are far more valuable than those showing wear and tear.
Tips for Identifying Valuable Pennies
- Look for Distinct Features: Pay close attention to details such as mint marks, inscriptions, or unusual overstrikes.
- Check the Year and Condition: Older pennies in good condition are generally more valuable.
- Consult Experts: If you think a penny might be valuable, get it professionally evaluated or graded to determine its worth.
Conclusion
Owning a penny from the 1800s is like holding a piece of history. Whether inherited or discovered in your collection, these coins are worth taking a closer look. With values ranging from hundreds to hundreds of thousands of dollars, it’s worth checking your collection—or your change jar—because you never know what hidden treasures you might find.
FAQ: 6 Pennies from the 1800s That Could Make You Rich
1. What makes 1800s pennies valuable?
- Rarity, historical significance, minting errors, and unique features contribute to the value of 1800s pennies. Coins with limited mintage, special designs, or errors tend to fetch higher prices, especially when in mint condition.
2. How much is an 1856 Flying Eagle penny worth?
- In average condition, an 1856 Flying Eagle penny is worth around $8,000, with higher-quality specimens reaching up to $25,000. The record auction price for one of these coins was $172,500.
3. Why is the 1864 Indian Head penny with the “L” on the ribbon valuable?
- The “L” on the ribbon behind the Indian’s head signifies the designer, James Longacre. This unique feature makes the coin more valuable, especially the rare proof version, which can fetch over $34,000.
4. What’s the value of a 1871 Indian Head penny?
- A 1871 Indian Head penny in average condition is worth about $60, while mint-state examples can reach $875. The highest auction price recorded for this coin was $60,375.
5. Why is the 1872 Indian Head penny so valuable?
- The 1872 penny is rare due to its limited mintage, and high-quality specimens can fetch significant amounts. A top-condition example sold for $126,500, making it one of the most valuable pennies from this era.
6. What’s special about the 1873 Indian Head penny (Closed 3)?
- The “Closed 3” variety of the 1873 penny has a unique appearance where the “3” in the date is thicker and more closely resembles an “8.” These coins are highly collectible, with mint-state examples often worth thousands.
7. How much is the 1888/7 Indian Head penny worth?
- The 1888/7 penny is an overdate variety, where the “8” was struck over a “7.” This makes it especially valuable, with auction prices for high-grade examples reaching up to $72,000.
8. How can I tell if my penny from the 1800s is valuable?
- Examine the coin for distinct features like mint marks, design variations, or errors. Coins in good condition or with special traits are more valuable. If you suspect your penny might be valuable, consider consulting a coin expert or using a reputable grading service.
9. How can I get my pennies evaluated?
- If you think you have a valuable penny, you can have it evaluated by professional coin grading services such as the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS). They can provide an accurate appraisal based on the coin’s condition, rarity, and historical significance.
10. What other 1800s pennies are worth looking for?
- In addition to the coins listed in the article, keep an eye out for other rare Indian Head pennies or Flying Eagle pennies with unique features or minting errors. Many rare pennies from the late 1800s, especially in mint condition, can be highly valuable.