Are you a numismatist and wish to collect a 1902 Indian Head Penny? Then you might be interested to know about 1902 Indian head penny Value. It is one of the latest coins in the series. Hence it is within your reach. However, they have been in circulation for a longer period of time.
You will get a good deal if you possess a lucrative piece in the best possible condition. Again as a buyer, you need to pay a good amount to have such a piece of a penny.
You need to check the coin professionally for accuracy in pricing the hundred-year-old penny. Keep reading the article to know more about the valuable numismatic coin.
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1902 indian head penny value
To determine the price of the 1902 Indian Head Penny, you need to emphasize the grade. It is of about a hundred years. It’s quite natural that better-condition of pennies charges more.
Similar is the case with Indian Head Penny. The point to be noted is that you can easily access this penny and avail them for not being that costly. The chart below may be useful to you while gathering ideas about penny value.
|Condition||by USA Coin book||by Country list||by Coinancials|
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Grading the 1902 Indian Head Penny
Coins’ condition is a big issue in determining its worth. Coin lovers always intend to collect the most unspoiled or pristine coins to add to their existing collections. Like other coins in the case of collecting Indian Head Penny too, the numismatist prioritizes the overall condition of the coin.
But very few 1902 Indian Head Pennies are preserved well. Most of them have worn out with the passage of time. So to assess the 1902 Indian Head Penny, you are to go for a formal grading system.
If you don’t know the grade of your coin you can check the following grades and the coin features of that grade. The coin grades or conditions are –
Such nickels are not circulated ever. They seem to be kept in safe custody. There is no sign of wearing on its surface. Its original texture and shape remain almost unchanged.
Unfortunately, as a law of nature, age has come upon them too. They have also lost their fresh look and their glow to some extent.
Your wallet will release $40 for buying uncirculated with MS 60 grade and $65 for MS 63 grade.
If any Indian Head Penny circulates in the market for a short period of time, it can be graded as an ‘Extremely Fine. But due to this coin’s short circulation, they bear wearing of a minor degree.
A very close inspection is required to bring out the faulty condition of the coin. Then, you can avail of such coins at $10.
The prominent features of such a coin are the signs of wearing o the coin surface. They are allowed to be circulated in the market as long as they reach an extreme level of wearing. You will notice the faded image on the coin surface.
A notable amount of chipping and scratching of the coin signifies that they are heavily circulated and used for years. You may have known that the more they wear signs, the more they will be evaluated.
The coins losing their overall texture, are much loved and valued by the collectors. Most of the 1902 Indian Heads Pennies are heavily worn and in great demand. Unfortunately, you need to pay $6 to get them.
Most of the 1902 Indian Head Penny falls under this category. The Americans have used them for a longer period to meet their daily need. This coin bears the marks of chipping, scratching, wearing, bending, and whatnot.
Textures and images inscribed on the penny, too, have been eliminated for too much handling. And all these characteristics have placed the penny in this category. In this condition, it costs $2.
Some other grades include MS 63 choice uncirculated, MS 60 uncirculated, and PR 63 proof.
How Does 1902 Indian Head Penny Look Like?
There is a depiction of an image of Lady Liberty on one side of the 1902 Indian Head Penny. In this portrait, she is seen wearing a pearl-made necklace.
The word LIBERTY is imprinted on the ribbon of Liberty. In addition, you will notice the inscription of ‘UNITED STATES OF AMERICA’ and the minting date just below the neck of Liberty.
On the obverse side of the coin, there is a headdress of an American Indian. On the central position of the coin, the face value of the coin, ‘ONE CENT,’ is written. This write-up is surrounded by a wreath of leaves from the oak tree and three arrows.
On the top of the writing, a small shield is seen. The shield includes seven horizontal and six vertical stripes. They are used symbolically, meaning the genuine States of the US.
1. What Is Indian Head Penny?
: Indian Head Penny is a one-cent coin. It’s designed by James Barton Longacre, the Chief Engraver at the Philadelphia Mint. The United States Bureau of the Mint produced this coin for the year ranging from 1859 to 1909.
2. Where Is the Mintmark on a 1902 Indian Head Penny?
: Philadelphia is the minting place of the 1902 Indian Head Penny. And the coins produced in the Philadelphia mint bear no mint mark on any side of the coin surface. So, keeping pace with this tradition, there is no mint mark on the 1902 Indian Head Penny.
3. What Is the 1902 Indian Head Penny Error?
: No notable minting error was made by the US Mint while minting the 1902 Indian Head Penny. So this coin is almost mintage flawless. As you can guess, any possible deviation from the standard appearance will increase the coin price.
The article has enriched you with an idea of how much is a 1902 Indian head penny worth. This coin specimen is not rare because it has been in circulation for a long duration.
They are commonly found in almost every home. But they bear signs of wearing too much. You hardly find the coin piece in minting condition. The pieces found in this state are more valuable.
Their length of age and historical importance have turned them into a value-adding piece. So, it’s time to grab the loveable one for you. But don’t forget to check the preservation level of your desired coin first.