The 1860 Indian Head pennies have value as numismatic coins. Keep reading to learn more about these one cent coins.
Specifications
Type: Indian Head Penny
Year: 1860
Face Value: $0.01
Composition: 88% copper, 12% nickel
Total Weight: 4.67 grams
There is no mint mark on this coin. Each coin was minted in Philadelphia.
| Series | Location | Quantity Minted |
|---|---|---|
| 1860 | Philadelphia | 20,566,000 |
| 1860 Proof | Philadelphia | 1,000 |
Value
The 1860 Indian Head penny is worth around $15 in good condition. In very fine condition the value is around $45. In extremely fine condition the value is around $80. In uncirculated condition the price is around $200 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $365.
The 1860 Indian Head proof penny is worth around $800 in PR 63 condition.
Pointed Bust Coins
In 1860 the design changed slightly on both the obverse and reverse sides of the coin. The new design, known as variety 2, has a rounded bust instead of a pointed bust. The bust can be found right below Liberty's neck. Some coins minted in 1860 have the pointed bust from the previous year and these coins are more valuable.
The 1860 Indian Head penny with the pointed bust is worth around $25 in good condition. In very fine condition the value is around $65. In extremely fine condition the value is around $110. In uncirculated condition the price is around $325 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $650.
Grading System
Good- The word "LIBERTY" inscribed on Liberty's headband is not visible.
Very fine- The word "LIBERTY" inscribed on Liberty's headband is visible but there is slight wear.
Extremely fine- The word "LIBERTY" inscribed on Liberty's headband is sharp. The other details on the coin are also sharp. There is slight wear on the end of the ribbon.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
Sources:
The Red Book
See also: