As a coin collector and numismatic expert, I‘ve long been fascinated by the Indian Head cent series. These classic copper pennies, minted from 1859 to 1909, are among the most iconic and widely collected coins in American history. Within that series, the 1889 edition holds a special place as a highly desirable type coin that is readily available yet still valuable in high grades.
In this in-depth guide, we‘ll explore everything you need to know about 1889 Indian Head penny values. We‘ll delve into the coin‘s origins and design, its mintage and rarity, and what you can expect to pay for an example based on its condition. Whether you‘re a seasoned collector or a curious novice, this article will provide you with the knowledge and perspective to appreciate this numismatic treasure. Let‘s get started!
The History and Artistry of the Indian Head Cent
The story of the Indian Head cent begins in the late 1850s, when the U.S. Mint was seeking to replace the large copper cents that had been in use since 1793. The Mint‘s chief engraver at the time, James B. Longacre, was tasked with designing a new small cent that would be more convenient for commerce and easier to produce in large quantities.
Longacre, who had previously designed the $1 and $3 gold pieces, the Flying Eagle cent, and other notable coins, created a design featuring a portrait of Lady Liberty wearing a Native American-style headdress. This image was meant to symbolize the ideal of American liberty in a way that was distinct from the classical European motifs that had long dominated U.S. coinage.
As Longacre himself explained in a letter to Mint Director James Ross Snowden:
"From the copper shores of Lake Superior, to the silver mountains of Potosi from the Ojibwa to the Araucanian, the feathered tiara is as characteristic of the primitives of our hemisphere, as the turban is of the Asiatic. Nor is there anything in its decorative character, repulsive to the association of Liberty … It is more appropriate than the Phrygian cap, the emblem rather of the emancipated slave, than of the independent freeman, of those who are able to say "we were never in bondage to any man". I regard then this emblem of America as a proper and well defined portion of our national inheritance; and having now the opportunity of consecrating it as a memorial of Liberty, our Liberty, American Liberty; why not use it? One more graceful can scarcely be devised. We have only to determine that it shall be appropriate, and all the world outside of us cannot wrest it from us."
The reverse of the coin featured a simple laurel wreath surrounding the denomination "ONE CENT," with a shield at the top of the wreath. This basic design would remain largely unchanged for the entirety of the series, with the exception of the addition of an oak wreath and arrows in 1860.
Mintage and Rarity of the 1889 Indian Head Penny
The Philadelphia Mint struck a total of 48,866,025 Indian Head cents for circulation in 1889, along with 3,336 proofs. This mintage figure ranks among the highest in the series, making the 1889 a readily available date in lower circulated grades.
However, the situation changes when we look at higher grade examples. According to estimates by numismatic experts, only about 5,000 uncirculated 1889 cents exist today, representing a survival rate of just 0.01%. This means that out of every 10,000 pennies struck that year, only one managed to escape circulation and survive in mint state.
The reasons for this attrition are many. For one, the copper composition of the coins (95% Cu and 5% Sn and Zn) made them susceptible to corrosion, spotting, and environmental damage over time. Additionally, there was little interest in collecting or saving coins by date at the time of issue, so most examples entered circulation and stayed there until they were worn out or lost.
As a result, gem uncirculated examples grading MS-65 or better are quite rare, with perhaps 500 or fewer known to exist. Full red gems are especially elusive, as the copper surfaces are prone to toning and discoloration over time. PCGS has graded just 43 examples in MS-65 Red or better, with none finer than MS-67 Red.
Here is a chart breaking down PCGS and NGC population data for the 1889 Indian Head cent in various uncirculated grades:
| Grade | PCGS | NGC | Total |
|---|---|---|---|
| MS-60 | 124 | 155 | 279 |
| MS-61 | 102 | 121 | 223 |
| MS-62 | 205 | 270 | 475 |
| MS-63 | 319 | 369 | 688 |
| MS-64 | 328 | 271 | 599 |
| MS-65 | 128 | 158 | 286 |
| MS-66 | 35 | 42 | 77 |
| MS-67 | 6 | 4 | 10 |
| Total | 1247 | 1390 | 2637 |
As you can see, the populations thin out dramatically in MS-64 and above, with very few gems or superb gems known. This rarity is a key factor in determining the value of high-end examples.
1889 Indian Head Penny Values and Auction Prices
So what is an 1889 Indian Head penny worth? As with most coins, the answer depends largely on condition and grade. Here is a table breaking down approximate values for examples in various states of preservation:
| Grade | Value Range |
|---|---|
| Good (G-4) | $2 to $5 |
| Very Good (VG-8) | $5 to $15 |
| Fine (F-12) | $15 to $30 |
| Very Fine (VF-20) | $30 to $45 |
| Extremely Fine (EF-40) | $45 to $60 |
| About Uncirculated (AU-50) | $60 to $80 |
| Uncirculated (MS-60) | $100 to $150 |
| Choice Uncirculated (MS-63) | $150 to $250 |
| Gem Uncirculated (MS-65) | $450 to $750 |
| Superb Gem Uncirculated (MS-67) | $3,000 to $5,000+ |
| Proof (PR-60 to PR-65) | $1,500 to $3,000+ |
As you can see, there is a significant jump in value as we move up the grading scale, with gem uncirculated and proof examples commanding substantial premiums over circulated coins. The finest known pieces can bring even more impressive prices, with a few notable examples:
- A PCGS MS-68 Red example, the single finest graded by that service, sold for $161,000 USD in a 2007 Heritage auction.
- An NGC MS-67 Red coin realized $132,000 in a 2019 Stack‘s Bowers sale.
- The highest graded proof, a PCGS PR-67 Red Cameo, went for $48,000 in a 2014 Heritage event.
Of course, these are exceptional prices for exceptional coins. More affordable examples can be found at all budgets, from a few dollars for a well-worn piece up to a few hundred for a choice uncirculated red example. The key is to buy the best you can afford from a reputable source.
Collecting Tips and Strategies
If you‘re interested in collecting 1889 Indian Head pennies, there are a few things to keep in mind. First and foremost, focus on quality over quantity. A single high-grade coin is generally a better value than several low-grade pieces.
When buying uncertified coins, look for examples with original surfaces, strong details, and minimal wear or damage. Avoid coins with heavy spotting, corrosion, or other problems, as these will limit the piece‘s value and eye appeal. Consider sending your best coins to PCGS, NGC, or ANACS for grading to preserve their value and authenticity.
If you‘re on a budget, circulated examples in the VG to EF range offer a good entry point. These coins are historic and attractive, but trade at a fraction of the price of mint state pieces. Over time, you can work your way up to higher grade examples as your finances allow.
Another option is to focus on a specific area of interest within the series. For example, you could assemble a set of different die varieties, or focus on coins with a particular color designation (red, red-brown, or brown). Some collectors even seek out errors and oddities like off-center strikes, double dies, or misspelled legends.
Regardless of your approach, the most important thing is to educate yourself and buy from trusted sources. Study grading standards, learn to identify problem coins, and network with other collectors to expand your knowledge. With patience and persistence, you can build a collection that will bring you joy and pride for years to come.
Conclusion
The 1889 Indian Head penny may not be the rarest date in the series, but it is certainly one of the most popular and widely collected. Its combination of availability, affordability, and historical significance make it a great choice for collectors of all levels.
By understanding the coin‘s background, rarity, and value, you can make informed decisions and get the most out of your collecting experience. Whether you‘re drawn to the artistry of the design, the thrill of the hunt, or the satisfaction of building a complete set, the 1889 Indian Head cent has something to offer.
So what are you waiting for? Start your journey into the fascinating world of Indian Head pennies today, and see where it takes you!
