How much is a 1905 Indian Head penny worth? (price chart) (2023)

The US Mint produced Indian pennies in two series from 1859 to 1864 and changed their composition and size in 1864. A group of coins that have been minted1900to 1909 is very collectible, but hard to find one in decent condition. Therefore, the value of the 1905 Indian Head penny increases slightly with age.

Although such penny type is considered plentiful in low grades, well preserved pieces are less available and more desirable. This is one reason for the wide price range. For example, you can pick one up for around $2, while rare red specimens can reach over $15,000. Let's take a look.

1905 Indian Head Penny History

James Longacre engraverdesigned a new Indian-headed penny in 1859 to replace the Flying Eagle. Despite its name, the image on the obverse was not based on a Native American, but depicted Lady Liberty wearing a headdress on her head.

Originally a new penny contained 88% copper with added nickel, but the US Mint changed the composition1864.A new version of the coin with a reduced weight and a different alloy appeared that year. This type of coin contained 95% copper with the addition of zinc and tin.

The penny obverse depicts a beautiful Lady Liberty wearing a headdress with the word LIBERTY above the ribbon holding her hair. You can also see the inscription UNITED STATES OF AMERICA along the edge of the coin and the date under the lady's neck.

Except for the piece from 1859, all laterIndian Kopfpfennigincluded a sign on the back. The US Mint also replaced a laurel wreath with an oak wreath that same year.

The ONE CENT denomination is placed in the center, surrounded by the wreath and three arrows tied with a ribbon at the bottom. You can notice a rim of tiny denticles gracing both the obverse and reverse of the coin.

1905 Indian Head Penny Types

The 1905Penny with an Indian headis a fairly common and widely used coin in the current market. Most collectors see them as an affordable part of this coveted series, but some well-preserved pieces can be incredibly expensive.

1905 Indian Head Penny

The Philadelphia Mint struck 80,717,011 Indian Head pennies in 1905, along with proofs. They're usually worth around $3-$25 in average condition, but you can expect $40-$65 for pieces in mint condition.

*from USA Coin Book

Rare specimens in an MS 66 class are pricey, and you can find one for $250 to $1,500 depending on color.

The most expensive pieces are Red Pennies with an MS 67 rating, priced between $15,000 and $17,250. A perfect example of this quality achieved an auction record of $19,975 in 2013.

1905 Proof Indian Head Penny

Exactly 2,152 proofsIndian Kopfpfennigwere minted in Philadelphia in 1905. They tend to be rare these days, particularly pieces in gem condition and cameo contrast.

*from Greysheet

You can expect to pay $100 to $250 for specimens in the PR 60 class, depending on the color. This price increases significantly for a PR 66 piece. Therefore, you should budget at least $700 for a brown penny. On the other hand, the one with a red finish will be worth over $1,600.

As expected, the rarities in PR 67 are the most expensive, priced at $2,800 for a brown specimen and $4,500 for the red shaded coin. One such piece fetched an impressive $23,000 at auction in 2009.

1905 Indian Head penny rarities

The 1905 Indian Head Penny has no known rarities or intriguing flaws. In most cases, collectors buy this coin to complete their sets. The complete coin with coins in circulation usually costs around $2,000 while that with pennies in coin condition can reach $14,000.

market analysis

Without silver andGoldIn composition, the value of the 1905 Indian pennies will not depend on the precious metals market. Therefore, only historical importance and demand among collectors determine their price.

Note that Indian Head pennies from 1905 are some of the highly valued collectibles minted from1900to 1909. The most expensive are pieces with fully legible dates and letters in inscriptions.

Many collectors appreciate thatthose little American pennies, the market is permanently active. You can assume that high value coins are valuable, while rare red pieces can be quite expensive.

1905 Indian Head Penny Grading

As always with coins over centenary, the value of the 1905 Indian head penny depends primarily on its condition. Most collectors will pay more for a high quality piece, but they need a professional appraisal.

However, you can examine your copy and make a rough estimate of whether it is economically viable to send it inPCGSorNGCfor evaluation.

uncirculated– Collectors value such a piece without the slightest trace of use, especially if it is an old coin. Depending on the copper toning, you will find red and reddish-brown varieties on the coin market.

Such color changes are to be expected with age, so your only concern should be whether the design is untouched.

*from Greysheet

Extra fein– It can be difficult to distinguish such a coin from one that is in mint condition. In most cases, only an expert can give you an accurate estimate after looking at a coin with a magnifying glass.

Since the signs of use are minimal, such a piece valuation is very popular among collectors. When evaluating your dime, always check that the headband is well defined with the word Liberty prominently displayed.

fine– This coin was withdrawn from circulation after months or years of use, leaving numerous scratches and stains on the surface.

You can see that Liberty's face and hair are still separated, but the highest design points are now devoid of filigree detail. Inscriptions are usually flattened but still legible.

Gut– Coins with this rating are plentiful these days as most of them have been around for years. You can see numerous stains and scratches on its surface, while most parts of the image are degraded with no original texture.

Such a worn piece is flattenedThe Portrait of Freedomwithout separate headband and hair. As this penny is over a century old it will still be collectible in this condition if the date is still visible.

Summary

Since the US Mint produced more than 80 million Indian Head pennies in 1905, they are considered fairly common, especially low-grade pieces. On the other hand, a rare MS 67 rated specimen can make a small fortune. Such an old coin will be a nice addition to your collection.