Introduction & Value Overview
The 1870 Indian Head Penny represents a pivotal issue in American numismatics, with premium examples commanding impressive prices at auction. In January 2023, a pristine PCGS MS-66 Red example sold for $21,600 at Heritage Auctions, demonstrating the significant value potential of this 155-year-old copper coin. While common circulated examples trade for $20-60, finest known specimens in gem uncirculated condition can reach $10,000-25,000, making the 1870 Indian Head Penny a sought-after target for serious collectors.
Designed by James B. Longacre and struck at the Philadelphia Mint, the 1870 Indian Head Penny belongs to a series produced from 1859 to 1909. Composed of 95% copper and 5% tin and zinc (bronze), these one-cent pieces represent an important transition period in American coinage following the Civil War. With a relatively modest mintage of 5,275,000 pieces, the 1870 issue has become increasingly difficult to find in higher grades.
This comprehensive guide examines all factors affecting 1870 Indian Head Penny values, including mint marks, key varieties, error types, and condition rarity. We’ll analyze current market prices across all grade points, identify the most valuable error varieties, and provide expert authentication guidelines to help collectors make informed decisions when buying or selling these historic coins.
Technical Specifications & Key Identifiers
Specifications Table
- Denomination: One cent (1¢)
- Composition: 95% copper, 5% tin and zinc (bronze)
- Weight: 3.11 grams
- Diameter: 19 mm
- Edge: Plain
- Designer: James Barton Longacre
- Obverse Design: Native American portrait (Lady Liberty in headdress)
- Reverse Design: Oak wreath and shield with “ONE CENT”
- Mintage: 5,275,000 (all from Philadelphia)
Authentication Markers
The 1870 Indian Head Penny features distinctive design elements that help verify authenticity. The obverse shows Liberty wearing a Native American headdress with the word “LIBERTY” displayed on a band. The date appears at the bottom, while the motto “UNITED STATES OF AMERICA” surrounds the top periphery.
On genuine specimens, the final feather in Liberty’s headdress points between the letters “C” and “A” in “AMERICA.” The diamonds in the headband should be clearly defined on higher-grade examples. The date numerals of 1870 have distinctive shapes—the “7” features a straight diagonal descent without a serif at the bottom, while the “0” is perfectly round with consistent thickness.
Design Elements
James Longacre’s design depicts Liberty wearing a Native American headdress rather than an actual Native American, a common misconception. The reverse features an oak wreath surrounding the denomination “ONE CENT,” with a small shield at the top. The wreath contains oak leaves and acorns, with the leaves having distinct stems and veining that can help determine the wear level for grading purposes.
The 1870 strikes typically show moderate to sharp detail in Liberty’s hair and feathers, though strike weakness can occur at the diamonds in the headband and the tips of the feathers. The reverse often shows better striking quality, with the shield and wreath details usually well-defined except on lower-grade examples.
Designer Information
James Barton Longacre served as the Chief Engraver of the United States Mint from 1844 until his death in 1869, making the 1870 Indian Head Penny one of the first issues produced after his passing. This historical context adds collector interest, as Longacre designed many iconic American coins including the Flying Eagle cent, Indian Head cent, Shield nickel, and various gold denominations. His attention to detail and distinctive styling make authentication of genuine examples more straightforward for experienced collectors.
Mint Mark Guide & Value Comparison
Mint Mark Locations
The 1870 Indian Head Penny was produced exclusively at the Philadelphia Mint and therefore bears no mint mark. This simplifies attribution but means that condition and die varieties become the primary value determinants rather than mint origin.
For context in the Indian Head series, when mint marks do appear (in later years when Denver and San Francisco produced cents), they’re located on the reverse side at the bottom between the wreath and the rim, just below “ONE CENT.” However, the 1870 issue predates the use of mint marks for cent production at branch mints.
Mintage Figures
The Philadelphia Mint produced 5,275,000 Indian Head cents in 1870. This mintage is relatively modest compared to later years in the series but not among the lowest. For perspective:
- 1869 Indian Head Cent: 6,420,000
- 1870 Indian Head Cent: 5,275,000
- 1871 Indian Head Cent: 3,929,500
While not a classic key date like the 1877 or 1909-S, the 1870 is considered a semi-key date due to its lower mintage and relative scarcity in higher grades. Many examples were heavily circulated or lost to metal reclamation over the years, making well-preserved specimens increasingly difficult to locate.
Current Market Values By Grade
Comprehensive Value Table for 1870 Indian Head Penny
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good-4 (G-4) | $20-25 | — | — |
| Very Good-8 (VG-8) | $25-35 | — | — |
| Fine-12 (F-12) | $35-45 | — | — |
| Very Fine-20 (VF-20) | $60-75 | — | — |
| Extremely Fine-40 (EF-40) | $100-125 | — | — |
| About Uncirculated-50 (AU-50) | $175-225 | $250-300 | — |
| About Uncirculated-58 (AU-58) | $275-350 | $400-500 | — |
| Mint State-60 (MS-60) | $350-450 | $550-650 | $1,000-1,200 |
| Mint State-62 (MS-62) | $500-600 | $900-1,100 | $2,000-2,500 |
| Mint State-64 (MS-64) | $1,000-1,200 | $2,000-2,500 | $7,500-9,000 |
| Mint State-65 (MS-65) | $2,200-2,500 | $5,000-6,000 | $14,000-16,000 |
| Mint State-66 (MS-66) | $6,000-7,000 | $9,000-11,000 | $18,000-22,000 |
| Mint State-67 (MS-67) | $15,000+ | $20,000+ | $30,000+ |
Price Trend Analysis
The 1870 Indian Head Penny has shown steady appreciation over the past decade, with particularly strong growth in the MS-64 and higher grades. Since 2020, gem uncirculated examples with original red color have seen value increases of approximately 25-30%, outperforming many other issues in the series. This growth can be attributed to several factors:
- Increasing collector interest in high-grade 19th-century bronze coinage
- The relative scarcity of true gem examples with original mint red color
- Growing recognition of the 1870 as an undervalued semi-key date in the series
- Registry set competition driving demand for finest known examples
The most dramatic price jumps occur between MS-63 and MS-64 (approximately 100% increase) and again between MS-64 and MS-65 (approximately 75-100% increase), reflecting the significant condition rarity of well-struck, mark-free examples with original surfaces.
Condition Impact
The 1870 Indian Head Penny demonstrates remarkable value sensitivity to grade and color designation. A single grade point can significantly affect value:
- The jump from AU-58 to MS-60 represents a 30-40% increase in value
- From MS-64 to MS-65 Brown, the value increases by approximately 100%
- The difference between an MS-65 Brown and an MS-65 Red can exceed 500%
Original red copper coins from this era are exceptionally rare. Only about 1-2% of surviving 1870 cents retain significant original mint red color, explaining the substantial premium for Red (RD) examples over Red-Brown (RB) and Brown (BN) specimens of the same numeric grade.
Auction Records
Notable recent auction results for the 1870 Indian Head Penny include:
- January 2023: PCGS MS-66 Red sold for $21,600 (Heritage Auctions)
- August 2022: PCGS MS-65+ Red-Brown sold for $7,200 (Stack’s Bowers)
- April 2021: NGC MS-65 Red with CAC approval sold for $15,600 (Heritage Auctions)
- November 2020: PCGS MS-64 Red-Brown sold for $2,280 (Great Collections)
- September 2020: PCGS AU-58 with CAC approval sold for $432 (Heritage Auctions)
These results demonstrate the significant premium commanded by examples with original color and minimal surface marks. The market particularly rewards coins with CAC approval, which can add 15-30% to the value of certified examples.
Major Error Types & Their Values
Doubled Dies
The 1870 Indian Head Penny features several doubled die varieties, with the 1870 Doubled Die Obverse being the most significant. This doubling is most visible in the date, “LIBERTY,” and portions of Liberty’s portrait.
Identification: Look for clear doubling on the digits of the date, particularly the “8” and “7.” Doubling also appears on the letters of “LIBERTY” on the headband and on the feather tips.
Current Values:
- Good to VG: $200-300
- Fine to VF: $400-600
- EF to AU: $900-1,500
- Uncirculated: $2,500-10,000+
Rarity: The 1870 Doubled Die Obverse is considered scarce, with fewer than 500 examples known across all grades. The variety is most challenging to identify on heavily worn examples.
Repunched Dates (RPDs)
Several 1870 Indian Head Penny varieties show evidence of date repunching, where the date numerals were punched multiple times into the die in slightly different positions.
Identification: The most notable RPD shows the “70” in the date with clear repunching visible under magnification. The secondary “7” appears slightly south of the primary digit.
Current Values:
- Good to VG: $75-125
- Fine to VF: $150-250
- EF to AU: $300-500
- Uncirculated: $800-2,500
Rarity: Most RPD varieties for 1870 are scarce, with the most prominent examples bringing strong premiums over common date coins.
Clashed Dies
Die clashes occur when the obverse and reverse dies come together without a planchet between them, causing design elements from one die to transfer to the other.
Identification: On 1870 cents with die clash, look for faint outlines of reverse design elements (particularly the wreath) visible on the obverse, especially around Liberty’s portrait. The shield outline may appear on Liberty’s neck or jaw.
Current Values:
- Good to VG: $30-50
- Fine to VF: $60-100
- EF to AU: $150-250
- Uncirculated: $300-700
Rarity: Minor die clashes are relatively common for the era, but pronounced examples with clear transfer of design elements command significant premiums.
Off-Center Strikes
Off-center strikes occur when the planchet is not properly positioned between the dies during striking, resulting in only a portion of the design being impressed on the coin.
Identification: Part of the design will be missing, with a blank crescent-shaped area on one side of the coin. The value depends on the percentage off-center and whether the date and mint mark (though no mint mark exists for 1870) are visible.
Current Values:
- 10-20% off-center: $200-400
- 20-50% off-center with visible date: $400-800
- 50%+ off-center with visible date: $800-2,500+
Rarity: Significant off-center strikes (20%+) of the 1870 Indian Head Penny are rare, with perhaps fewer than 100 examples known across all grades.
Wrong Planchet Errors
Extremely rare instances exist where 1870 Indian Head cents were struck on planchets intended for other denominations or compositions.
Identification: Check weight and diameter against standard specifications. A cent struck on a silver dime planchet, for example, would be slightly smaller and silver-colored rather than copper.
Current Values: Pricing for wrong planchet errors varies dramatically based on the specific wrong planchet used:
- Struck on nickel three-cent planchet: $7,500-15,000
- Struck on silver dime planchet: $15,000-25,000+
Rarity: Wrong planchet errors for 1870 cents are extremely rare, with fewer than a dozen examples confirmed across all types.
Die Varieties & Doubled Dies
1870 FS-101 (Doubled Die Obverse)
Official Designation: FS-101 (Featured in “The Cherrypickers’ Guide to Rare Die Varieties”)
Diagnostic Features: Strong doubling visible on date, particularly the “8” and “7” digits. Additional doubling appears on “LIBERTY” in the headband and portions of the portrait, especially the feathers.
Current Values:
- F-12: $500-700
- VF-20: $800-1,000
- EF-40: $1,200-1,600
- AU-50: $2,000-2,500
- MS-60 to MS-62: $3,500-6,000
- MS-63 and higher: $7,500-15,000+
Authentication Markers: The doubling should appear as a clear separation of design elements rather than just die wear or damage. Genuine examples show consistent doubling characteristics across multiple specimens.
1870/70 Repunched Date
Official Designation: 1870/70 RPD-001
Diagnostic Features: Clear evidence of date repunching, with the “70” showing a secondary impression slightly south of the primary digits. Most visible under 5x magnification or stronger.
Current Values:
- F-12: $150-200
- VF-20: $250-350
- EF-40: $400-600
- AU-50: $700-900
- MS-60 to MS-62: $1,200-2,000
- MS-63 and higher: $2,500-5,000+
Authentication Markers: The repunching should be visible even on worn examples, appearing as a clear secondary impression rather than a die crack or damage. Check also for consistent die markers present on other confirmed specimens.
1870 “Shallow N” Reverse
Official Designation: 1870 Snow-1
Diagnostic Features: The “N” in “ONE” on the reverse appears shallower than normal and slightly malformed. This is a distinctive die variety rather than a dramatic error.
Current Values:
- F-12: $50-70
- VF-20: $80-120
- EF-40: $150-200
- AU-50: $250-350
- MS-60 and higher: $500-2,000+
Authentication Markers: Compare the formation of the “N” to a regular 1870 cent. The shallow N variety shows less depth to the punch and slightly irregular letter formation.
Rarity Ranking of Varieties
From most common to rarest:
- Regular strike 1870 Indian Head Penny
- Minor die clashes and cuds
- Shallow N Reverse
- Repunched Date (1870/70)
- Doubled Die Obverse FS-101
- Off-center strikes (20%+)
- Wrong planchet errors
Collectors should note that as die variety research continues, new varieties may be discovered and rarity rankings may shift accordingly.
Grading Guide For Value Assessment
Grade-Specific Value Impacts
Proper grading is critical for accurate 1870 Indian Head Penny valuation, with specific wear points determining grade assignment:
Good (G-4 to G-6): Heavy wear across all surfaces. Liberty’s headband is visible but “LIBERTY” is mostly worn away. Feather details are merged into an outline. On the reverse, the wreath appears as an outline with minimal interior detail.
Very Good (VG-8 to VG-10): Moderate to heavy wear. “LIBERTY” is partially visible on the headband. The portrait shows more detail but remains flat. Reverse wreath shows some interior detail but remains mostly flat.
Fine (F-12 to F-15): Moderate wear overall. “LIBERTY” is complete but worn. Some separation of feather details is visible. Reverse wreath shows more interior detail with leaf veins beginning to appear.
Very Fine (VF-20 to VF-35): Light to moderate wear on high points. “LIBERTY” is clear and complete. Feathers show clear separation with some remaining detail. Reverse wreath shows good detail with clear leaf veins.
Extremely Fine (EF-40 to EF-45): Light wear confined to highest points. “LIBERTY” is sharp. Feathers show nearly full detail with slight wear on tips. Reverse wreath and shield show nearly full detail with only highest points showing wear.
About Uncirculated (AU-50 to AU-58): Trace wear on highest points with at least 50% original luster. Minor friction on high points of portrait, headband, and feathers. Reverse shows nearly full detail with slight friction on highest points of wreath and shield.
Uncirculated (MS-60 to MS-70): No wear, though contact marks and other imperfections may be present depending on grade. Full mint luster, though quality of luster and surface preservation determine specific grade.
Key Grading Points
When assessing an 1870 Indian Head Penny, pay particular attention to:
- Headband: The word “LIBERTY” and the diamonds in the headband are key grading points. Examine the clarity and completeness of these features.
- Feather Tips: The tips of the feathers in the headdress are often the first areas to show wear.
- Hair Details: The definition in Liberty’s hair provides important grading information, particularly for distinguishing between EF and AU grades.
- Reverse Wreath: The interior details of the oak leaves and acorns help determine the grade, with leaf veins being particularly important.
- High Point Luster: For AU and Uncirculated coins, check for luster breaks on the highest points, including Liberty’s cheek, the tips of the feathers, and the high points of the reverse wreath.
Strike Quality Factors
The 1870 Indian Head Penny can show significant variation in strike quality, which impacts value independent of wear:
- Feather Definition: Well-struck examples show clear separation and detail in the headdress feathers. Weakly struck coins may show merged or flat feathers even in uncirculated condition.
- Diamond Clarity: The diamonds in Liberty’s headband are often weakly struck. Sharp, clear diamonds indicate a superior strike.
- Hair Definition: Liberty’s hair curls should show clear separation and detail on well-struck examples.
- Reverse Shield: The lines in the shield should be clear and distinct. Weak strikes show blurred or incomplete shield lines.
Problem Areas
Common problems affecting 1870 Indian Head Penny values include:
- Carbon Spots: Dark spots caused by environmental damage to the copper. Even small spots can significantly reduce value, particularly on Red examples.
- Environmental Damage: Green verdigris, corrosion, or porosity from improper storage can substantially decrease value.
- Cleaning: Improper cleaning leaving hairlines or unnatural brightness dramatically reduces value, often by 50% or more.
- Rim Damage: Nicks, dents, or filing on the rim are particularly problematic and can reduce value by 30-70% depending on severity.
- Planchet Defects: Pre-striking flaws in the metal can affect value either positively (if recognized as a mint error) or negatively (if mistaken for damage).
Grading Controversies
The 1870 Indian Head Penny presents several grading challenges:
- Color Designation: The boundaries between Brown, Red-Brown, and Red can be subjective. A coin with 15% red might be designated Brown by one service and Red-Brown by another.
- Strike vs. Wear: Weak strike areas are sometimes misinterpreted as wear, leading to grading discrepancies between AU and MS designations.
- Artificial Toning: Some 1870 cents have been chemically treated to enhance their appearance, creating controversy in authentication and grading.
- Conservation Practices: Professional conservation of copper coins remains controversial, with some collectors preferring original surfaces regardless of condition.
Authentication & Counterfeit Detection
Counterfeit Warning Signs
Counterfeit 1870 Indian Head Pennies can be identified by several telltale signs:
- Weight and Dimensions: Authentic 1870 cents should weigh approximately 3.11 grams and measure 19mm in diameter. Significant deviation suggests a counterfeit.
- Die Characteristics: Counterfeit dies often miss subtle details in Liberty’s hair, feathers, and the reverse wreath. Compare against known authentic examples when possible.
- Date Formation: The 1870 date has distinctive characteristics. The “7” should have a straight diagonal descent, and the “0” should be perfectly round. Malformed digits often indicate a counterfeit.
- Surface Texture: Authentic coins show proper flow lines from the minting process. Cast counterfeits typically display grainy surfaces or unusual texture patterns.
- Edge Quality: The edge should be clean with a plain surface. Seams, filing marks, or unusual texture on the edge suggest a counterfeit.
Weight and Measurement Tests
Precise measurement is crucial for authentication:
- Weight: Authentic 1870 Indian Head Pennies should weigh 3.11 grams, with a small tolerance of ±0.1 grams. Digital scales accurate to 0.01 grams are recommended for testing.
- Diameter: The correct diameter is 19mm (0.75 inches). Significant deviation indicates a potential counterfeit.
- Thickness: Edge thickness should be approximately 1.5mm. Inconsistent thickness around the circumference may indicate a cast counterfeit.
- Specific Gravity: Bronze 1870 cents should have a specific gravity of approximately 8.8. This test requires specialized equipment but is highly effective for detecting composition differences.
Design Element Inspection
Close examination of specific design elements helps identify counterfeits:
- Portrait Details: Liberty’s portrait should show appropriate relief and detail gradation. The feathers should have distinct separation, and the hair curls should show proper flow and texture.
- Letter Formation: The lettering on both obverse and reverse should have consistent thickness and proper serif formation. Examine “LIBERTY” on the headband and “ONE CENT” on the reverse for irregular letter shapes.
- Rim Beading: Authentic 1870 cents have evenly spaced, consistent denticles around both obverse and reverse rims. Counterfeits often struggle to replicate this feature precisely.
- Field Texture: The fields (flat areas) of authentic coins show characteristic mint luster patterns that counterfeits typically fail to reproduce accurately.
Modern Counterfeits
Recent counterfeit threats include:
- Chinese-Made Counterfeits: High-quality counterfeits from China have entered the market in recent years. These often have correct weight and composition but show subtle die characteristic differences.
- Cast Counterfeits: Created from molds of genuine coins, these typically show diminished detail, incorrect surface texture, and sometimes evidence of seams or filing.
- Altered Date Counterfeits: Common date Indian Head cents altered to show the 1870 date. Look for tooling marks around the date and inconsistent patina in that area.
- Spark-Erosion Dies: Advanced counterfeits made using spark-erosion techniques can be deceptive. They typically show minute pitting under magnification that authentic coins lack.
Authentication Resources
For proper authentication of 1870 Indian Head Pennies, consider these resources:
- Professional Certification Services: PCGS, NGC, ANACS, and ICG offer authentication and grading services that help verify genuine examples.
- Specialized Reference Works: “Flying Eagle & Indian Cent Attribution Guide” by Richard Snow provides detailed die variety information for authentication.
- Comparative Analysis: Study authentic examples at museums, major coin shows, or established dealer inventories to train your eye.
- Non-Destructive Testing: XRF analysis can verify metallic composition without damaging the coin, though this requires specialized equipment.
- Online Resources: The PCGS CoinFacts and NGC Coin Explorer websites offer high-resolution images of authenticated examples for comparison.
Collector Strategy & Value Acquisition
Value-Based Collecting Approaches
Strategic approaches to collecting the 1870 Indian Head Penny include:
- Condition-Based Focus:
- Budget Approach: Target problem-free F-12 to VF-20 examples that show clear design detail without the premium of higher grades.
- Midrange Value: AU-50 to AU-58 examples offer an excellent balance of eye appeal and value, often at 10-20% the cost of gem uncirculated coins.
- Investment Grade: Focus on PCGS/NGC MS-64 or better with CAC approval, especially those with original color and strong eye appeal.
- Variety-Based Focus:
- Complete a set of all major 1870 die varieties, including the Doubled Die Obverse and significant RPDs.
- Target examples that represent different die states, from early to late, showing the progression of die deterioration.
- Type Collection Integration:
- Acquire a premium example of the 1870 as part of a broader Indian Head cent type collection.
- Position the 1870 as a representative of post-Civil War bronze coinage in a comprehensive U.S. type collection.
Where To Buy
The best sources for authentic 1870 Indian Head Pennies at fair prices include:
- Major Auction Houses: Heritage Auctions, Stack’s Bowers, and Great Collections regularly offer authenticated examples across all grade ranges.
- Specialized Dealers: Dealers specializing in Flying Eagle and Indian Head cents often have the expertise to properly attribute varieties and assess value.
- Major Coin Shows: Events like the ANA World’s Fair of Money, FUN Show, and Long Beach Expo bring together multiple dealers with high-quality inventory.
- Online Marketplaces: PCGS Set Registry, Heritage Auctions’ Coin Shop, and David Lawrence Rare Coins offer certified examples with guaranteed authenticity.
- Collector Forums and Clubs: Flying Eagle and Indian Cent Collectors Society (Fly-In Club) members often trade among themselves, sometimes at better prices than retail.
When To Sell
Market timing considerations for 1870 Indian Head Penny owners:
- Seasonal Factors: January through March typically sees stronger prices due to increased collector activity after the holidays.
- Auction Placement: Major auctions featuring important Indian Head cent collections can create heightened interest and stronger results.
- Certification Premiums: Consider submitting raw coins for certification before selling if the potential grade warrants the fee. CAC approval can add 15-30% to the value of already certified coins.
- Long-Term Trends: The 1870 Indian Head Penny has shown steady appreciation over 20-year periods, suggesting holding quality examples long-term may yield better results than frequent trading.
- Market Cyclicality: Copper coins typically experience less dramatic market fluctuations than precious metals, making timing less critical than for gold and silver issues.
Storage For Value Preservation
Proper storage is essential to maintain condition and value:
- Environmental Control: Store 1870 cents in environments with stable temperature (65-72°F) and moderate humidity (40-50%). Avoid areas with significant temperature fluctuations.
- Holder Selection: For uncertified coins, use inert materials like Mylar flips or holders with no PVC or other harmful plasticizers. For certified coins, the PCGS or NGC holder provides adequate protection.
- Handling Practices: Handle only by edges when necessary, preferably wearing cotton gloves. Skin oils can cause long-term damage to copper surfaces.
- Chemical Exposure Prevention: Store away from paper products containing sulfur and other materials that can cause chemical reactions with copper.
- Insurance Considerations: Document your collection with photographs and maintain proper insurance coverage reflecting current market values rather than purchase prices.
Expert FAQ & Value Conclusion
What makes a 1870 Indian Head Penny valuable?
The 1870 Indian Head Penny’s value is driven primarily by four factors: condition rarity, color preservation, die varieties, and overall scarcity. While 5,275,000 were minted, few survive in grades above EF-40, and genuine uncirculated examples with original mint red color are genuinely rare. The presence of significant die varieties like the Doubled Die Obverse FS-101 can multiply value substantially. Examples with problem-free surfaces, strong strikes, and attractive natural color command the strongest premiums, with PCGS/NGC certification and CAC approval providing additional value assurance.
Which 1870 Indian Head Penny errors are worth the most?
The most valuable 1870 Indian Head Penny errors are, in descending order of value: wrong planchet errors (particularly on silver planchets), significant off-center strikes (50%+ off-center with visible date), the major Doubled Die Obverse (FS-101), significant repunched date varieties, and dramatic die breaks or cuds. Among these, wrong planchet errors are extraordinarily rare and can command $15,000+ even in circulated grades, while significant doubled dies in mint state can bring $5,000-15,000 depending on grade and eye appeal.
How do mint marks affect 1870 Indian Head Penny values?
The 1870 Indian Head Penny was produced exclusively at the Philadelphia Mint and therefore bears no mint mark. This means that unlike later years in the series when branch mints produced cents with mint marks, mint origin doesn’t affect 1870 cent values. Instead, collectors focus on condition, color, and die varieties to determine value. In the broader Indian Head cent series, San Francisco and Denver mint marks (when present in later years) typically command significant premiums over Philadelphia issues of the same date.
Value Summary
The 1870 Indian Head Penny represents an important semi-key date in the Indian Head cent series, with values ranging from $20 for heavily circulated examples to $20,000+ for pristine red uncirculated specimens. The most significant value jumps occur at the AU-58 to MS-60 threshold (representing the uncirculated premium) and at the MS-64 to MS-65 level (representing the gem quality premium). Color designation creates another substantial value multiplier, with red examples often worth 5-10 times their brown counterparts in the same numeric grade.
Major varieties, particularly the Doubled Die Obverse FS-101, can sell for 3-5 times the price of regular strike examples in comparable condition. The growing popularity of registry set collecting has placed additional premium on top-graded examples, particularly those with original color and CAC approval.
Market Outlook
The market for high-quality 1870 Indian Head Pennies shows strong growth potential for several reasons:
- Increasing collector interest in 19th-century bronze coinage as an accessible alternative to gold and silver
- Growing recognition of the true rarity of gem uncirculated Indian Head cents with original color
- Registry set competition driving demand for finest known examples
- Broader appreciation of Indian Head cents as both historical artifacts and investment vehicles
- Limited supply of problem-free examples entering the market each year
Collectors should approach the 1870 Indian Head Penny market with careful attention to authentication, proper grading, and color designation. As with many 19th-century copper issues, the highest returns on investment typically come from purchasing the best quality example within one’s budget rather than accumulating multiple lower-grade specimens.
Final Collector Advice
For collectors seeking to acquire an 1870 Indian Head Penny:
- Prioritize original, problem-free surfaces over absolute grade. A natural VF example is preferable to a cleaned AU or damaged uncirculated coin.
- Consider certified examples for significant purchases, particularly above the EF-40 grade level. The cost of certification is justified by the assurance of authenticity and proper grading.
- Study die characteristics of authentic examples before making major purchases, particularly when targeting key varieties like the Doubled Die Obverse.
- Develop relationships with specialized dealers who understand the nuances of 19th-century copper coinage