The 1888 Indian Head pennies have value as numismatic coins. Keep reading to learn more about these one cent coins.
Specifications
Type: Indian Head Penny
Year: 1888
Face Value: $0.01
Composition: 95% copper, 5% tin and zinc
Total Weight: 3.11 grams
There is no mint mark on this coin. Each coin was minted in Philadelphia.
| Series | Location | Quantity Minted |
|---|---|---|
| 1888 | Philadelphia | 37,489,832 |
| 1888 Proof | Philadelphia | 4,582 |
Value
The 1888 Indian Head penny is worth around $4.50 in good condition. In very fine condition the value is around $10. In extremely fine condition the value is around $25. In uncirculated condition the price is around $75 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $150.
The 1888 Indian Head proof penny is worth around $275 in PR 63 condition.
Last 8/7 Error Coins
There is a notable error variety for this series. For these error coins the last number 8 on the date is minted over a number 7. It's difficult to see this error but if you look closely you can see that the tail of the number 7 is slightly visible. Another indicator is the cud next to the word "UNITED". This cud is diagnostic.
The 1888 Indian Head penny last 8/7 error coin is worth around $1,700 in good condition. In very fine condition the value is around $6,000. In extremely fine condition the value is around $8,000. In uncirculated condition the price is around $37,500 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $65,000.
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:
1889 Indian Head Penny
1887 Indian Head Penny
1886 Indian Head Penny