In July 2021, a pristine example of the 1871 Indian Head Penny sold for an astounding $31,200 at Heritage Auctions, highlighting the exceptional premium collectors place on this scarce date in superb condition. With circulated examples typically selling for $60-200 and uncirculated specimens commanding $500 to several thousand dollars, the 1871 Indian Head Penny represents a significant prize for serious Indian cent collectors.
The 1871 Indian Head Penny, designed by James B. Longacre, was struck during a transitional period in American coinage. Produced in a bronze composition after the earlier copper-nickel “white cents,” this coin features Lady Liberty wearing a Native American headdress—a design that would continue until 1909. With relatively low mintage figures compared to later dates, the 1871 penny has become increasingly valuable as surviving examples continue to diminish over time.
In this comprehensive value guide, we’ll explore the current market values across all grades, examine the distinctive mint marks and their significant price implications, identify valuable error varieties that command substantial premiums, and provide expert guidance on authentication and grading considerations that directly impact this coin’s worth.
Technical Specifications & Key Identifiers
Specifications Table
| Feature | Specification |
|---|---|
| Denomination | One Cent ($0.01) |
| Composition | 95% Copper, 5% Tin and Zinc |
| Weight | 3.11 grams |
| Diameter | 19 mm |
| Edge Type | Plain |
| Designer | James Barton Longacre |
| Production Years | 1871 (part of series: 1859-1909) |
| Obverse Design | Liberty wearing Indian headdress |
| Reverse Design | Oak wreath surrounding “ONE CENT” |
Authentication Markers
Genuine 1871 Indian Head Pennies display several key diagnostic features that collectors should verify:
- Sharp feather details in the headdress with distinct separation
- Well-defined diamond pattern on Liberty’s headband
- Precise rim beading with consistent spacing (66 beads on obverse)
- Clear letter separation in “LIBERTY” on the headband
- Distinct texture transition between field and device areas
Design Elements
The obverse features Lady Liberty in profile facing left, wearing a Native American headdress with the word “LIBERTY” inscribed on the headband. The date 1871 appears at the bottom with 13 stars surrounding the periphery, representing the original colonies.
The reverse displays a simple oak wreath encircling the denomination “ONE CENT,” with the words “UNITED STATES OF AMERICA” around the periphery. This design remained consistent through the bronze Indian Head cent series, having been simplified from earlier copper-nickel issues.
Designer Information
James Barton Longacre served as the Chief Engraver of the United States Mint from 1844 until his death in 1869. Although Longacre had passed away by 1871, his Indian Head design continued in production. His work on the Indian Head cent series represents one of his most enduring legacies, with his distinctive interpretation of Liberty wearing a Native American headdress becoming an iconic American coin design.
Mint Mark Guide & Value Comparison
Mint Mark Locations
The 1871 Indian Head Penny was produced at two U.S. Mint facilities:
- Philadelphia (No Mint Mark): The vast majority were struck at the Philadelphia Mint and carry no mint mark on either side of the coin.
- San Francisco (S): A small number were struck at the San Francisco Mint, featuring an “S” mint mark on the reverse. The mint mark appears on the reverse below the wreath and above the rim.
Mint Mark Value Table
| Grade | 1871 (No Mint Mark) | 1871-S |
|---|---|---|
| Good-4 | $60-70 | $900-1,100 |
| Very Good-8 | $75-90 | $1,400-1,800 |
| Fine-12 | $105-125 | $2,200-2,800 |
| Very Fine-20 | $140-170 | $3,500-4,200 |
| Extremely Fine-40 | $200-250 | $6,000-7,500 |
| About Uncirculated-50 | $300-350 | $9,000-11,000 |
| MS-60 (Uncirculated) | $500-600 | $15,000-20,000 |
| MS-63 (Choice) | $1,100-1,300 | $25,000-30,000 |
| MS-65 (Gem) | $5,000-6,500 | $50,000+ |
| MS-67+ (Superb Gem) | $30,000+ | Not confirmed to exist |
Mint Mark Identification Tips
The San Francisco mint mark on 1871 Indian Head cents tends to be well-struck but small. When authenticating:
- Examine the area directly below the knot in the wreath ribbon
- Use 5x-10x magnification to confirm the presence of a clearly defined “S”
- Be suspicious of added mint marks, as the value differential makes alteration attempts common
- The “S” should have slightly rounded serifs and proper punch depth consistent with period examples
Mintage Figures
- 1871 Philadelphia: 3,929,500 coins
- 1871-S: Approximately 30,000 coins (exact records uncertain)
The extremely low mintage of the San Francisco issue makes it one of the rarest Indian Head cents. With a survival rate estimated at just 1-2% of the original mintage, the 1871-S remains one of the most challenging key dates in the entire Indian Head series.
Most Valuable Mint Mark
The 1871-S is dramatically more valuable than its Philadelphia counterpart, commanding a premium of 15-20 times across all grades. This remarkable value disparity is driven by the coin’s extreme scarcity, with many collectors never encountering an authentic example during their collecting careers. An 1871-S in MS-63 condition now regularly commands $25,000-30,000 when available—which occurs perhaps only once or twice annually at major auctions.
Current Market Values By Grade
Comprehensive Value Table for 1871 Indian Head Penny
| Grade | Philadelphia (No Mint Mark) | San Francisco (S) | Notes |
|---|---|---|---|
| AG-3 | $45-55 | $700-900 | Barely identifiable date |
| G-4 | $60-70 | $900-1,100 | Full rim, date clear |
| VG-8 | $75-90 | $1,400-1,800 | “LIBERTY” partially visible |
| F-12 | $105-125 | $2,200-2,800 | Complete “LIBERTY” visible |
| VF-20 | $140-170 | $3,500-4,200 | Moderate wear, good details |
| VF-30 | $170-200 | $4,800-5,500 | Light wear on high points |
| EF-40 | $200-250 | $6,000-7,500 | Sharp details, slight wear |
| EF-45 | $250-300 | $7,500-9,000 | Minimal wear, good luster |
| AU-50 | $300-350 | $9,000-11,000 | Slight wear, 50% luster |
| AU-55 | $375-450 | $12,000-14,000 | Minimal wear, 75% luster |
| AU-58 | $450-550 | $14,000-16,000 | Nearly full luster |
| MS-60 | $500-600 | $15,000-20,000 | Uncirculated with marks |
| MS-62 | $800-950 | $22,000-26,000 | Better luster, fewer marks |
| MS-63 | $1,100-1,300 | $25,000-30,000 | Nice eye appeal |
| MS-64 | $2,200-2,800 | $35,000-45,000 | Excellent eye appeal |
| MS-65 | $5,000-6,500 | $50,000+ | Premium quality |
| MS-66 | $12,000-15,000 | Not confirmed | Superb quality |
| MS-67 | $25,000-35,000 | Not confirmed | Exceptional quality |
| PR-63 | $2,500-3,000 | Not produced | Proof striking |
| PR-65 | $4,000-5,000 | Not produced | Gem proof |
| PR-67 | $10,000-12,000 | Not produced | Superb proof |
Price Trend Analysis
The 1871 Indian Head Penny has shown consistent appreciation over the past decade, with particularly strong growth in higher mint state grades:
- Circulated examples (G-4 to VF-20) have appreciated approximately 30-35% over the past 10 years
- Mid-grade uncirculated coins (MS-60 to MS-63) have increased approximately 40-50% in the same period
- Gem-quality specimens (MS-65+) have seen the most dramatic growth, with price increases of 75-100%
This upward trend reflects both growing collector demand for key date Indian cents and the declining availability of problem-free examples as copper coins continue to deteriorate or are lost to improper cleaning and environmental damage.
Condition Impact
The value progression between grades demonstrates the significant premium collectors place on quality:
- The jump from G-4 to F-12 represents a 75% increase in value
- Moving from AU-50 to MS-63 increases value by approximately 270%
- The leap from MS-63 to MS-65 represents a 400% value increase
- The rarest MS-67 examples can command a 2,500% premium over MS-63 coins
This steep value curve demonstrates the importance of accurate grading and the substantial financial impact of even one grade point difference in high-end specimens.
Key Date Values
The 1871 ranks as the third most valuable regular-issue Indian Head cent (after the 1877 and 1869/9), with exceptional prices in all grades. While not as famous as the 1877, it actually has a lower survival rate in mint state, making gem examples particularly scarce and valuable. Recent sales include:
- January 2023: 1871 MS-66 RB (PCGS) – $13,800 (Heritage Auctions)
- September 2022: 1871-S VF-20 (NGC) – $4,080 (Stack’s Bowers)
- May 2022: 1871 PR-66 CAM (PCGS) – $9,600 (Legend Rare Coin Auctions)
Market Visualization
The value progression of the 1871 Indian Head Penny across grades follows an exponential curve rather than a linear progression, with dramatic increases occurring beyond the MS-63 grade level. This value distribution reflects the extreme rarity of high-grade examples, particularly those with original red or red-brown coloration.
Major Error Types & Their Values
Doubled Die Obverse (DDO)
The 1871 DDO shows notable doubling most visible in the “LIBERTY” text on the headband and date area:
- Attribution characteristics: Doubling visible in “LIBERTY” lettering, particularly the “IBER” portion, and in the date numerals
- Current values:
- F-12: $800-1,000
- EF-40: $2,000-2,500
- MS-60: $4,000-5,000
- MS-63: $8,000-10,000
- Rarity: Approximately 100-150 examples known across all grades
- Authentication tip: Examine under 8x-10x magnification; genuine examples show consistent doubling throughout affected areas without evidence of machine doubling
Repunched Date (RPD)
Several 1871 Indian Head cents show evidence of repunched dates, with the most significant showing clear repunching on the “1” and “7”:
- Attribution characteristics: Clear secondary digit impressions visible below or above the primary digits
- Current values:
- VG-8: $200-250
- VF-20: $400-500
- EF-40: $800-1,000
- MS-60: $1,500-2,000
- Rarity: Multiple varieties exist, with the most prominent commanding highest premiums
- Authentication tip: Distinguished from damage by showing consistent die-produced secondary digits that appear on multiple examples
Clashed Dies
Several 1871 cents exhibit evidence of die clashes, where the obverse and reverse dies struck each other without a planchet between them:
- Attribution characteristics: Faint reverse design elements visible on obverse and vice versa
- Current values:
- F-12: $150-200
- VF-20: $250-300
- EF-40: $400-500
- Rarity: Uncommon but not rare
- Authentication tip: Look for consistent phantom images that appear in the same location across multiple specimens
Misplaced Date (MPD)
A rare error showing a digit of the date punched partially into the denticles or field:
- Attribution characteristics: Partial digit visible in incorrect location, often in the denticles below the date
- Current values:
- VG-8: $300-400
- F-12: $500-700
- VF-20: $900-1,200
- Rarity: Very scarce, fewer than 50 examples confirmed
- Authentication tip: The misplaced digit should show same size and style as the normal date digits
Most Valuable Errors
The most valuable 1871 Indian Head Penny errors, in order of current market value:
- Doubled Die Obverse: The most significant premium, with MS-63 examples bringing $8,000-10,000
- Misplaced Date: Scarce and visually striking, commanding $900-1,200 in VF-20
- Repunched Date: Popular with specialists, with strong examples in EF-40 worth $800-1,000
Die Varieties & Doubled Dies
Snow-1 (S1) – Major Doubled Die
- Official designation: FS-101 (Fivaz-Stanton)
- Diagnostic features: Strong doubling visible on “LIBERTY” (particularly “IBER”), date, and lower portions of the Indian headdress
- Current market values:
- VF-20: $650-850
- EF-40: $1,500-2,000
- MS-60: $3,500-4,500
- MS-63: $7,000-9,000
- Authentication markers: Consistent doubling pattern appears clockwise from the center, affecting multiple design elements
Snow-2 (S2) – Triple Punched Date
- Official designation: FS-301
- Diagnostic features: Clear triple punching visible on the digits “87” of the date, with two extra impressions below the primary digits
- Current market values:
- F-12: $250-350
- VF-20: $500-700
- EF-40: $900-1,200
- MS-60: $2,000-2,500
- Authentication markers: Three distinct impressions of the affected digits visible under 5x magnification
Snow-3 (S3) – Misplaced Date
- Official designation: FS-401
- Diagnostic features: Partial “1” digit visible in denticles below the date position
- Current market values:
- VG-8: $200-300
- F-12: $400-500
- VF-20: $700-900
- Authentication markers: Consistent appearance on multiple examples, with the misplaced digit showing proper font characteristics
Snow-4 (S4) – Doubled Liberty
- Official designation: FS-102
- Diagnostic features: Doubling visible primarily on “LIBERTY” with less pronounced doubling elsewhere
- Current market values:
- F-12: $200-300
- VF-20: $400-500
- EF-40: $800-1,000
- Authentication markers: Consistent doubling pattern appears counterclockwise from the center
Rarity Ranking
From most common to rarest, the significant 1871 Indian Head Penny varieties rank:
- Snow-4 (Approximately 200-300 examples known)
- Snow-1 (Approximately 100-150 examples known)
- Snow-2 (Approximately 75-100 examples known)
- Snow-3 (Fewer than 50 examples confirmed)
Most Valuable Varieties
- Snow-1 (S1) – Major Doubled Die: The most valuable variety, with MS-63 examples bringing $7,000-9,000, representing a 600% premium over standard 1871 cents in the same grade
- Snow-2 (S2) – Triple Punched Date: Particularly valuable in higher grades, with MS-60 examples worth $2,000-2,500
- Snow-3 (S3) – Misplaced Date: Though typically found in circulated condition, brings consistent $700-900 premiums in VF-20 grade
Grading Guide For Value Assessment
Grade-Specific Value Impacts
The 1871 Indian Head Penny experiences dramatic value shifts based on specific grade points:
- Low grades (G-4 to VG-8): Value determined primarily by date legibility and rim completeness
- Mid grades (F-12 to VF-30): “LIBERTY” headband clarity becomes the critical value determinant
- High circulated grades (EF-40 to AU-58): Feather detail and presence of luster significantly impact value
- Mint State (MS-60 to MS-67): Color designation (RB vs. RD), strike quality, and surface preservation drive exponential value differences
Key Grading Points
When assessing the grade of an 1871 Indian Head Penny, focus on:
- Headband inscription: Complete “LIBERTY” survival is crucial for F-12 and above
- Feather tips: Distinct separation of individual feather tips indicates EF-40 or better
- Cheek definition: Liberty’s cheek shows wear very early, with smooth areas appearing even in AU grades
- Hair details: Individual hair strands over the ear area should remain visible in EF and better grades
- Diamond completeness: The diamonds in Liberty’s headband should retain full outlines in VF and better
Strike Quality Factors
The 1871 Indian Head Penny often suffers from strike weakness that can artificially lower apparent grade:
- Central areas of Liberty’s portrait often show weakness even on high-grade examples
- The “ONE CENT” on the reverse commonly displays incomplete strike
- The upper portions of the wreath frequently lack full detail
These strike characteristics should be distinguished from wear when determining grade. A coin with strike weakness but minimal wear should not be downgraded for production deficiencies.
Problem Areas
Several issues commonly affect the value of 1871 Indian Head Pennies:
- Environmental damage: Green spots (verdigris) or pitting from improper storage
- Improper cleaning: Hairline scratches from abrasive cleaning methods
- Carbon spots: Black spots affecting copper surfaces that significantly impact eye appeal
- Rim damage: Nicks, bruises, or flattened areas that are particularly common on copper coins
- Corrosion: Reddish-brown active corrosion that continues to deteriorate the surface
These problems can reduce value by 30-70% depending on severity, with cleaned examples typically selling for half the value of problem-free coins in the same grade.
Grading Controversies
Several grading challenges specific to 1871 Indian Head Pennies create controversy:
- Color designation disputes: The line between Red-Brown (RB) and Red (RD) is subjective and significantly impacts value
- Strike vs. wear distinction: Weak strikes can be misinterpreted as wear, leading to undergrading
- Artificial toning: Some examples have been chemically treated to enhance color, which can be difficult to detect
- Conservation controversy: Professional conservation treatments may be considered improper “cleaning” by some grading services
Professional third-party grading is highly recommended for any 1871 Indian Head Penny valued above $500 to address these concerns.
Authentication & Counterfeit Detection
Counterfeit Warning Signs
Be alert for these red flags when authenticating 1871 Indian Head Pennies:
- Weight discrepancies: Genuine coins should weigh 3.11 grams (±0.1g)
- Die characteristics: Counterfeit dies often show mushy details in Liberty’s hair and the wreath
- Added mint marks: Examine the S mint mark under magnification for signs of manipulation
- Altered dates: Check for tooling marks around the date that might indicate modification from a later date
- Incorrect font characteristics: Compare letter and number punches to known genuine examples
Weight and Measurement Tests
Precise measurements for authentication include:
- Weight: 3.11 grams (±0.1g)
- Diameter: 19.0mm (±0.1mm)
- Thickness: 1.5mm (±0.1mm)
- Edge type: Plain with slight natural roughness, not perfectly smooth
Significant deviation from these specifications suggests either a counterfeit or an altered coin.
Design Element Inspection
When authenticating, pay particular attention to:
- Hair details: Individual strands should show natural flow and separation
- Headband diamonds: Should have proper spacing and alignment
- Star points: Should be sharp and properly formed
- Letter formation: “LIBERTY” should show consistent font characteristics with period examples
- Denticle pattern: Should display 66 denticles on the obverse with consistent size and spacing
Modern Counterfeits
Recent counterfeit threats include:
- Chinese-made die-struck counterfeits: Often with correct weight but incorrect metallic composition
- Cast counterfeits: Showing characteristic surface porosity and loss of fine detail
- Altered dates: Modern technology has improved techniques for altering dates from common years
- Deceptive replicas: Originally sold as “copies” but entering the market as genuine coins
Authentication Resources
For proper authentication, consult:
- Professional third-party grading services (PCGS, NGC, ANACS)
- The American Numismatic Association Authentication Service
- “The Official Red Book Guide to Indian Head Cents” by Richard Snow
- The CONECA Variety Verification Service for error and variety authentication
Collector Strategy & Value Acquisition
Value-Based Collecting Approaches
Strategic approaches to collecting the 1871 Indian Head Penny include:
Best Value Entry Points:
- VF-20 to EF-40 grades: Offer the optimal balance between visual appeal and investment, with strong details but 30-40% lower cost than AU examples
- AU-50 with minor issues: Coins with minor, stable defects can offer substantial discounts while maintaining collector appeal
- MS-60 to MS-62 Brown: Often overlooked by collectors seeking red coins, these offer excellent value with full mint state detail
Quality vs. Quantity Strategies:
- Focus on acquiring one premium quality example rather than multiple lower-grade specimens
- Consider allocating 15-20% of your Indian cent budget to this key date alone
- For variety collectors, prioritize the S1 doubled die over multiple lesser varieties
Investment-Grade Acquisition Tips:
- Target PCGS/NGC-certified examples in original holders from the 1990s-2000s
- Focus on coins with CAC verification when possible
- Prioritize original, problem-free surfaces over higher technical grades with issues
Where To Buy
The best sources for authentic 1871 Indian Head Pennies at fair prices include:
- Major auction houses: Heritage, Stack’s Bowers, and Legend Rare Coin Auctions regularly feature quality examples with verified provenance
- Established dealer specialists: Seek dealers who specialize in Indian Head cents, particularly PCGS/NGC authorized dealers
- Major coin shows: PCGS and ANA shows typically feature multiple examples for direct comparison
- Online specialized marketplaces: Great Collections and David Lawrence Rare Coins offer certified examples with return privileges
Avoid ungraded examples from general online marketplaces unless you have advanced authentication skills.
When To Sell
Market timing considerations include:
- January-March typically sees strongest demand as collectors allocate new budgets
- Major auction appearances of exceptional examples often create renewed interest in the date
- Indian Head cent market typically cycles every 7-10 years, with current trend suggesting continued strength through 2026-2027
Storage For Value Preservation
To maintain condition and value:
- Use inert, PVC-free holders (PCGS/NGC holders or quality aftermarket options)
- Store in climate-controlled environment with 40-50% humidity
- Avoid handling raw coins directly; use cotton gloves or hold by edges
- Consider professional conservation for coins showing active verdigris or corrosion
- Insure valuable examples through specialized numismatic insurance providers
Expert FAQ & Value Conclusion
Key Value Questions
What makes a 1871 Indian Head Penny valuable? The 1871 Indian Head Penny derives its value from its relatively low mintage (particularly the San Francisco issue), high attrition rate, and key date status within the series. In addition, the coin’s value increases exponentially in higher mint state grades, with dramatic premiums for red and red-brown examples above MS-64. Specific varieties like the Snow-1 doubled die can command prices 5-7 times higher than standard examples in the same grade.
Which 1871 Indian Head Penny errors are worth the most? The Snow-1 (FS-101) doubled die obverse commands the highest premium, with examples in MS-63 grade bringing $7,000-9,000. Other valuable errors include the triple-punched date (Snow-2) worth $2,000-2,500 in MS-60 and the misplaced date (Snow-3) bringing $700-900 in VF-20 grade. Even minor repunched date varieties can double the value of an otherwise standard 1871 cent.
How do mint marks affect 1871 Indian Head Penny values? The mint mark creates the most dramatic value differential of any Indian Head cent date. The 1871-S commands a 15-20x premium over its Philadelphia counterpart, with even heavily circulated Good-4 examples selling for $900-1,100. This exceptional premium results from the San Francisco issue’s tiny mintage (estimated at 30,000) and extreme rarity in all grades, with fewer than 200 examples confirmed to exist today.
Value Summary
The 1871 Indian Head Penny represents one of the most significant opportunities in 19th-century copper collecting, with strong demand across all grades. Circulated examples provide accessibility for most collectors at $60-250, while mint state examples offer significant appreciation potential at $500-$6,500 for Philadelphia issues. The 1871-S remains one of the great rarities of the series, with values ranging from $900 in low grades to $50,000+ for the finest known examples.
Market Outlook
The market for key date Indian Head cents shows continued strength, with particular growth in the following areas:
- Premium-quality MS-65 and above examples showing original color
- Certified error varieties with CAC approval
- Original, problem-free circulated examples in the VF-20 to AU-50 range
With increased collector recognition of the 1871’s true scarcity relative to the more famous 1877, values are expected to continue appreciating at 5-8% annually for the next 3-5 years, potentially outpacing many other 19th-century copper issues.
Final Collector Advice
When pursuing the 1871 Indian Head Penny:
- Prioritize surface quality and originality over absolute grade
- Verify authentication through third-party grading services for any significant purchase
- Seek examples with rich chocolate brown color for the best combination of eye appeal and value
- Compare multiple examples before purchasing to develop an eye for the date’s characteristics
- Consider the 1871 as a cornerstone acquisition rather than just another date in a set
By focusing on quality and authenticity, collectors can secure a genuinely scarce piece of American numismatic history with outstanding long-term appreciation potential.