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1907 Indian Head Penny Value (Rare Errors & No Mint Mark)

1907 Indian Head Penny Value (Rare Errors & No Mint Mark)

You probably expect that the 1907 Indian Head penny value is high because of its age and collectability, but it is not always the case. Despite some highly-rating pieces that can cost tens of thousands of dollars, most coins struck this year are worn-out and cheap.

Plus, record mintage makes them abundant on the coin market. However, these pieces are still over a hundred years old, so most collectors like having them in their collections.

1907 Indian head penny value Chart

Condition 1907 No Mint mark penny
Good $2.28
Very good $3.30
Fine $5.13
Very fine $6.64
Extra fine $11
AU $23
Mint state 60 $42
Mint state 63 $63
Proof 63 $160

*by USA Coin Book

 

History of the 1907 Indian Head Penny

At the end of the 18th century, the US government didn’t allow using coins made of any metals other than gold and silver as legal tender. In that period, only coins made of copper in circulation were large cents, but it was forbidden to use them for paying taxes.

During the 1850s, the US Mint reduced the penny size because of fluctuations in the copper price. The first small-size penny was the Flying Eagle, produced from 1856 to 1858. However, difficulties with minting such a complicated design led to its replacement with the new coin, the Indian head penny.

The chief engraver J. Barton Longacre designed the Indian Head penny, the second American small cent, produced from 1859 to 1909. Even though the idea was to create a coin representing an Indian chief, the obverse actually showed Lady Liberty wearing a headdress.

Many collectors believe that the model for this image was the designer’s 12-year-old daughter, but it is questionable. On the other hand, Longacre claimed that a Crouching Venus statue from the Vatican was the model he had used.

In the beginning, the reverse showed a laurel wreath, but an oak wreath and shield replaced it in 1860. The following change was in composition. In 1864, the US Mint increased the copper percentage and replaced nickel with tin or zinc.

1907 Indian head penny

Location Year Minted
Philadelphia 1907 No Mint mark penny 108,137,143
Philadelphia 1907 proof penny 1,475
Total / 108,138,618

Interestingly, only the Philadelphia mint minted these coins during the entire period. The only exception was pieces struck in San Francisco in 1909.

At the turn of the century, the Indian head pennies mintage rapidly increased to help meet growing demand. With 108,138,618 minted coins, the 1907 Indian head penny was the highest production year in the series.

Unfortunately, most of these coins have been damaged or lost over time, and only rare pieces are in the mint state nowadays. Despite that, these pennies are collectible, thanks to their historical significance and age.

 

Features of the 1907 Indian Head Penny

The 1907 Indian head penny is a beautiful old coin, and many collectors want to add it to their collections. If you are one of them, you can purchase one for an affordable price and enrich your collection with this valuable and one of the most beautiful pieces of American coinage.

The obverse of the 1907 Indian head penny

The obverse of the 1907 Indian head penny

Image: coinvalues

This beautiful copper coin depicts an American Indian image wearing an original headdress. It is believed that no real person was the model for this portrait.

Some collectors claim that it is actually Lady Liberty, an imaginary character with an Indian headdress on her head. The UNITED STATES OF AMERICA surrounds a centrally positioned portrait on both sides, while the DATE, 1907, is struck along the bottom rim.

The reverse of the 1907 Indian head penny

The reverse of the 1907 Indian head penny

The elegant coin reverse has the denomination ONE CENT in the center with a shield on the top. You can also see a richly interlaced oak wreath along the rim with three arrows at the base. They were tied with a stylish ribbon.

Interestingly, the first Indian head pennies contained a laurel wreath, but it was changed because of issues with minting.

1907 Indian head penny

Face value One cent ($0.01)
Shape Round
Compound 95% copper with zinc and tin added to the alloy
Coin thickness 0.03937 inches (1 mm)
Coin diameter 1.75 inches (19.05 mm)
Coin weight 0.10970 ounces (3.11 g)
Edge Plain

Other features of the 1907 Indian head penny

The 1907 Indian head penny is a round coin made of copper with a face value of one cent. The diameter of 1.75 inches (19.05 mm) is standard for one-cent pieces, and the thickness is only 0.03937 inches (1 mm).

While older pennies minted from 1859 to 1864 weighed 0.14110 ounces (4.67 g), those struck from 1864 to 1909, including The 1907 Indian head penny, are lighter. Their mass is 0.10970 ounces (3.11 g).

 

1907 Indian Head Penny Value Guides

The Philadelphia mint was the only one that produced Indian head pennies in 1907. Among 108,138,618 produced coins were those from the regular strikes and a low number of proofs.

1907 No Mint mark Indian head penny

In 1907, the Philadelphia mint struck 108,137,143 pennies without the mint mark. Surprisingly, many of these coins survived over a century, and you can find them on the market. Moreover, their price is pretty low for such old pieces.

However, you should be aware that the price directly depends on the preservation level, and finding any of these pennies in perfect condition is a challenging task. Plus, you can recognize them in three colors, and only red-toning specimens are highly collectible and desirable among collectors.     

1907 Indian head penny value

Condition 1907 BN penny 1907 RB penny 1907 RD penny
Good $1 to $1.44 / /
Very good $1.50 to $1.86 / /
Fine $1.75 to $2.40 / /
Very fine $2.50 to $3.90 / /
Extra fine $5 to $12 / /
AU $17 to $27.50 / /
MS 60 $32 to $40 / /
MS 61 $36 to $45 $50 to $62.50 $80 to $100
MS 62 $46 to $57.50 $62 to $77.50 $105 to $131.25
MS 63 $62 to $77.50 $80 to $100 $135 to $168.75
MS 64 $80 to $100 $140 to $175 $240 to $300
MS 65 $125 to $156.25 $225 to $281.25 $520 to $635
MS 66 / $380 to $475 $1,300 to $1,800
MS 67 / / $18,000 to $24,000

*by Greysheet

For instance, you can find a modest 1907 penny with brown toning in circulated condition for $1 to $27.50. Even those in the mint state won’t cost you more than $155. On the other hand, red-brown pieces are available only in the mint state and are typically worth $50 to $475, depending on the preservation level.

The most valuable are specimens with attractive red toning and sharp strike, so you should expect to pay $80 to $1,800 for one. The rarest pennies in an MS 67 grade are precious, and you should set aside $18,000 to $24,000 for such a piece.

The most expensive 1907 Indian head penny ever sold at an auction is the unique coin with MS 67+ rating. This unbelievably beautiful specimen with red toning reached $63,000 at Heritage Auctions in 2019.

1907 proof Indian head penny

1907 proof Indian head penny

The Philadelphia mint minted 1,475 Indian head proof pennies in 1907. Such a low mintage makes these coins rare, particularly in the highest grades. While specimens with brown toning cost approximately $110 to $1,980, red-brown-toned pieces are always more costly.

Therefore, you should set aside a minimum of $135 for the one in a PR 60 grade. On the other hand, an elegant coin with a PR 67 rating can reach $2,000 to $2,400 at auctions.

1907 proof Indian head penny value
Condition 1907 BN penny 1907 RB penny 1907 RD penny
PR 60 $110 to $132 $135 to $162 $200 to $240
PR 61 $125 to $150 $170 to $204 $225 to $270
PR 62 $145 to $174 $200 to $240 $250 to $300
PR 63 $170 to $204 $230 to $276 $280 to $336
PR 64 $230 to $276 $335 to $402 $500 to $600
PR 65 $335 to $402 $450 to $540 $1,200 to $1,440
PR 66 $700 to $880 $1,025 to $1,230 /
PR 67 $1,650 to $1,980 $2,000 to $2,400 /

*by Greysheet

The most collectible, impressive red-toned, sharply struck specimens come with a price range of $200 to $1,440. Unfortunately, it is almost impossible to find pieces in a grade above PR 65.

Therefore, you shouldn’t be surprised that one collector paid $22,913 for the unique 1907 PR 67 RD Indian head penny. He didn’t have a second thought when this gem appeared at Legend Rare Coin Auctions in 2019.

 

1907 Indian Head Penny Errors

Besides color variations, it can be challenging to find any 1907 Indian head penny error, despite relatively high mintage.

Re-punched date

Sometimes, you can find the 1907 Indian head penny with double minting, particularly in digits in the date. Some pieces also have such a doubling in other design parts, but most are visible only under a magnifying glass.

Since such specimens are scarce, you should count on a high price for any found. They will cost you at least four times the regular coin value in most cases.

Missing letters

You can sometimes come across the 1907 Indian head penny with missing letters in inscriptions, but you should be careful with such coins. It is crucial to differentiate between an error and a worn-out piece.

In most cases, only an expert can make such a decision. However, it is worth the effort because these pennies often cost as much as $1,000 each.

Die cud

In rare cases, you can find the 1907 Indian head penny with the die cud, a die defect variation with a raised metal part. This unintentional bump appears because the die is with a gouge, allowing the metal to fill the gap during minting. These coins are always valuable, but the final price depends on the error size.

 

FAQ about the 1907 Indian Head Penny

What makes a 1907 Indian head penny rare?

Surprisingly, the 1907 Indian head penny is not a rare coin, despite its age. However, finding a piece with desirable red toning in the highest grades can take time and effort. Therefore, such a coin reaches the highest prices at auctions.

Which 1907 Indian head penny is worth a lot of money?

  • One collector purchased the 1907 MS 67+ RD Indian head penny at Heritage Auctions for $63,000 in 2019
  • One collector purchased the 1907 PR 67 RD Indian head penny at Legend Rare Coin Auctions for $22,913 in 2019
  • One collector purchased the 1907 PR 66 CAM Indian head penny at Legend Rare Coin Auctions for $11,163 in 2017
  • One collector purchased the 1907 PR 67+ RB Indian head penny at Heritage Auctions for $10,800 in 2020
  • One collector purchased the 1907 PR 67 BN Indian head penny at Heritage Auctions for $5,581 in 2013
  • One collector purchased the 1907 MS 66+ RB Indian head penny on eBay for $1,275 in 2018
  • One collector purchased the 1907 MS 66 BN Indian head penny on eBay for $900 in 2022
  • One collector purchased the 1907 MS 65 RPD RD Indian head penny at Heritage Auctions for $540 in 2021

How much is 1907 No Mint mark Indian head penny worth?

The 1907 Indian head penny price depends on the condition and color. For instance, one brown coin in lower grades costs $1 to $27.50, while those in the mint state are worth $155.

On the other hand, you can purchase a red-brown piece for $50 to $475. The most expensive are red-toned specimens that come in a price range of $80 to $1,800. However, the rare pennies with MS 67 rating cost $18,000 to $24,000 at the market.

What is the most pricey Indian head penny?

The 1877 MS 66 Indian head penny is the most expensive piece in the series ever sold at an auction. One collector added it to their collection for a fantastic $149,500 in 2007.

Just a bit less expensive was the 1902 MS 68 RD Indian head penny sold for $144,000 in 2022. The third place went to the 1872 MS 66 Indian head penny after one collector set aside $126,500 for it in 2007.