1906 Indian Head Penny Value: How Much Is It Worth Today?
Coins have always been a fascinating piece of history. They can tell us stories of different eras, cultures, and even political events. One such coin with a tale is the 1906 Indian Head penny. Despite its size, this tiny 1906 cent has created a ripple effect throughout history.
In this blog post, we will go through the history of the Indian Head penny and explore its various variations, errors, and grading process. Join us on this journey as we unravel the mysteries of the 1906 Indian Head penny value.
1906 Indian Head Penny Value Chart
To help you better understand the 1906 Indian Head Penny value, we have compiled the chart below based on data from the Greysheet website. This chart provides an overview of the 1906 Indian Head Pennies value based on grade.
1906 Indian Head Penny Value Chart
|1906 No Mint Mark Indian Head Penny Value||
|1906 Proof Indian Head Penny|
|1906 No Mint Mark Proof Indian Head Penny Value||
1906 No Mint Mark Indian Head Penny Value
The Indian Head penny was made in 1859, replacing the Flying Eagle design. It was used for 50 years until 1909. Even though it’s called the “Indian Head” penny, the lady on the front isn’t a Native American. It’s actually a picture of Miss Liberty. The design changed a few times. They added a shield to the back and changed the material from mostly nickel to mostly copper. In 1864, some pennies were made with bronze instead of copper, and some had the engraver’s initials.
The 1906 Indian Head penny is a 1-cent bronze coin minted in Philadelphia with a mintage of 96,020,530, which is abundant for this variant, so they’re not hard to find and not very expensive. It’s part of a series of coins called the Indian Cent Series.
The cent features the Indian Head design on the obverse side, created by James B. Longacre, with the inscription “UNITED STATES OF AMERICA” and the year 1906. The reverse side displays the Shield design with “ONE CENT” inscribed in the center.
It measures 19 mm in diameter, weighs 3.11 grams, and has a composition of 95% copper and 5% zinc and tin. It has a round shape and a business strike type. The coin was produced as part of a series from 1864 to 1909.
The value of the 1906 Indian Head penny varies depending on its condition. According to the CPG Value and Greysheet Price, the coin can be worth anywhere from $0.60 for an AG3-graded cent to $203 for an MS65-graded coin. While circulated specimens are widely available, unblemished, partially or fully red-colored coins in pristine condition are considered rare and valuable.
The most recent 1906 Indian Head Penny auctioned at Stack’s Bowers in 2023 was the highest-sold penny of its kind. Graded MS65+ (BN), this particular penny is in remarkable condition. It fetched an impressive price of $1,200.
Comparatively, back in 2010, a 1906 Indian Cent graded MS66 (BN) was sold for $370 at the same auction house, Stack’s Bowers. While it is still a significant amount, it is clear that the recent 1906 Indian Head Penny sale exceeded the 2010 sale significantly in terms of value.
1906 No Mint Mark Proof Indian Head Penny Value
Proof strike 1906 Indian Cent is the second variation of the 1906 Indian Head Penny in limited quantities, with only 1,725 ever produced! While it is somewhat rare, it is still considered a common coin type because many were made. It was struck in three different versions: BN (Brown), RB (Red-Brown), and RD (Red).
The BN version is dark brown due to its air exposure over time. The RB version has a reddish-brown color, while the RD version has a bright red color, which results from being stored in a sealed container, preserving its original color. Some versions of the coin are even rarer, such as those with a red gem or a cameo appearance.
Coin enthusiasts searching for this particular coin should seek specimens exhibiting an attractive brown or vibrant red hue, as these are the most highly coveted and easily obtainable. The highest-selling 1906 Proof Indian Head penny in auctions with PR67 Grade (Red) was sold for $14,950 in an auction conducted by Heritage Auctions in 2008. The coin is in pristine condition and has a red color, which is the rarest and most desirable of the three versions.
The second highest sold in the same auction house and has the same grade was in red and brown hue for $6,462 in 2012. The third highest-selling coin was brown, which was sold for $4,025 to Stack’s Bowers in 2009.
1906 Indian Head Penny Grading
The Indian Head Penny can be graded as Extra Fine-40, About Uncirculated-55, Mint State-65, or Mint State-67. The higher the grade, the less wear and more mint luster are present on the coin. The design elements become sharper and more well-defined as the grade increases, and the overall eye appeal is better. Mint State-67 is the highest grade, with near-perfect mint luster and only a few small, unnoticeable contact marks.
Watch this video to know how much your 1906 Indian Head Penny values.
Rare 1906 Indian Head Penny Error Lists
Before you go with our lists, you may check out this video to learn more about the rare 1906 Indian Head cents error and their current market value.
1. 1906 Indian Head Penny Off-center Error
The 1906 Indian Head Cent has an error that was struck 10% off the center. This means that the coin was not properly centered on the press during the minting process, resulting in the design being off-center by approximately 10%. This type of error is common in 1906 cents collecting and can make the coin more valuable to collectors due to its uniqueness and rarity. The value of this particular coin error is $510.20.
2. 1906 Indian Head Penny Double Die Error
In 1906, a penny was made in the United States that had an Indian head on one side. Sometimes, the machine that made the penny messed up and accidentally put the design on twice. This is called a “double die error.” This mistake usually happened on the side with the Indian head. If you have one of these special pennies with a double design mistake, it could be worth more than a regular penny.
3. 1906 Indian Head Penny Double Strikes Error
1906 Indian Head pennies can also have mistakes called “double strikes.” This means the penny was stamped twice by mistake. But there’s a really cool type of double strike that happens when the penny is flipped over before being stamped the second time.
A special 1906 Indian Head penny with this type of mistake was sold at an auction for over $690. Another double-struck penny was sold for only $20 because it was in bad condition. If it was in better condition, it could have sold for more.
4. 1906 Indian Head Penny Repunched Date Error
Another 1906 Indian Head penny that you may stumble upon is a special repunched date error. Some named it as a double date error. This means the date was stamped twice, which made it look crooked. If the coin is in great condition, this mistake can make it worth a lot more money.
However, what’s most important is how well the coin is taken care of, not just the mistake. For instance, a 1906 cent in excellent shape was sold for $2,500, while one that’s not as good only sold for $20. Therefore, although the error is fascinating, the coin’s condition is what determines its worth.
5. 1906 Indian Head Penny Struck on Wrong Planchet Error
Another penny from 1906 was found to have been made with a mistake at the mint. Instead of being minted of regular penny metal, it was made of Mexican coin metal. This makes it very special and one of a kind.
The penny has some scratches and signs of use, so it was probably kept as a fun thing to look at or carry around. Experts checked it and confirmed it to be authentic and in good condition. Someone bought it for $72,500, and it will be worth even more in the future as a rare item that collectors will want to have.
1906 Indian Head Penny FAQs
Q1: How much are 1906 Indian head pennies worth?
The 1906 Indian Head Penny value actually depends on two main factors: the strike type and the condition. For regular strike pennies, you can expect the value to range anywhere from $0.85 all the way up to $26,400! That’s quite a range, right? Of course, the highest value is for a 1906 RD penny in excellent condition. On the other hand, the lowest value is for a regular strike penny that’s in poor condition.
The value range is slightly different if you’re looking at proof strike 1906 pennies. For these, you can expect to see values ranging from $143 all the way up to $6,000. Again, the highest value is for a 1906 RD penny in excellent condition. The lowest value, however, is for a 1906 BN proof strike penny in lower grade condition.
If you’re interested in buying or selling a 1906 Indian Head penny, it’s also good to know the wholesale prices. Regular strike pennies can go anywhere from $0.72 to $380 wholesale. For proof strike pennies, wholesale prices range from $132 to $4,000, once again depending on the condition.
Q2: What is the most valuable 1906 Indian cent?
There are only two versions of the 1906 Indian Head Cent, and the proof strikes are the scarcest and most valuable among them. The highest of them was sold for more than $14,000. With a mintage of only 1,725 coins, it is likely that most collectors already own one, and the price is expected to continue to rise in the future.
Q3: What should I look for in a 1906 Indian head penny?
If you are searching for an Indian Head penny, there are specific features you should look for. James B. Longacre was the designer responsible for modifying the coin, and one of the changes he made was adding the letter “L” to the ribbon behind the neck where the headband meets the curls of hair. So, if you come across a penny with the letter “L” on its ribbon, it is likely an Indian Head penny.
Additionally, the penny with the “L” has a more pointed tip on the bust than the ones without it. Therefore, keep an eye out for these distinct features when searching for an Indian Head penny.
Q4: Are Indian head pennies all copper?
The Indian Head penny was first introduced in 1859, and it was composed of a mixture of copper and nickel, with copper making up 88% of its composition. However, in 1864, changes were made to the penny’s design and composition. The penny was made smaller and lighter, weighing only 3.11 grams, and its composition was altered to 95% copper and 5% tin.
Therefore, not all Indian Head pennies are made of the same materials; some earlier ones contain a mixture of copper and nickel, while later ones are primarily composed of copper with a small amount of tin.
Thank you for reading our review of the 1906 Indian Head Penny. We hope you found it informative. Please visit our site regularly to stay up-to-date with our future coin reviews. In the meantime, we recommend using this guide to check the authenticity of your 1906 Indian Head Penny value. If you own other coins, feel free to browse our library of coin reviews for more information.