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    1883 Indian Head Penny

    The 1883 Indian Head, like most Indian Heads this old, is an extremely difficult to find coin. Because they are more than one hundred years old, it goes without saying that only a handful have survived the years. To that end, only a small percentage of that handful were able to survive the years in good condition, which is why investors jump at the opportunity to get their hands on them.

    As time moves forward, these coins will only become rarer and rarer as collectors constantly add what few are on the open market to their collections.

    Grading the 1883 Indian Head Penny

    When it comes to deciphering a grade for the Indian Head Penny, or any coin for that matter, it is often easiest to ship your coin to a professional grading service that will have an expert look at your coin and give it a grade based on condition. Because not everyone is afforded the luxury of having their coin graded, it becomes a hurdle to describe the coin’s condition. By using the specifications below, you can determine a rough grade for the 1883 Indian Heads in your possession.

    Of course, if you want to derive an official grade for your coin, you will be required to send it to one of the many coin grading services around.

    Uncirculated: A coin in Uncirculated condition is one that has never exchanged hands and was taken off the presses and put into safekeeping. These coins will show almost no signs of wear, meaning that they will be free of scratches and other blemishes. While some of the mint’s original luster will have worn away with time, the coin itself is in pristine condition.

    Extremely Fine: An Extremely Fine Indian Head is one that was in circulation for only a very limited amount of time. These coins will show some scratching and other imperfections, but these imperfections will be few and far between. The coin’s luster will have faded a bit more than the Uncirculated coins, but the coin itself will be in great condition.

    Fine: A coin in this condition will show ample signs of wear, but for the most part will still look like it is in pretty good shape. Indian Heads in this condition will have some of the texture worn down, but the imagery, for the most part, is still able to be deciphered with the naked eye.

    Good: Coins in Good condition are in the poorest condition. These are the coins that have been circulated for many, many decades and have lived to tell the tale. The faces of these coins will have been worn down such that they feel smooth as opposed to textured, and much of the imagery will be difficult to make out. This kind of coin will be found more often than not by collectors who are searching for them.

    Pricing the 1883 Indian Head Penny

    When it comes to giving these pennies a price, look no further than the grade given to the coin. Collectors look to the coin’s grade as the best way to determine a price, and these coins are no exception. While you will not pay all that much for 1883 Indian Heads in poor condition, the price quickly jumps forward as condition improves. The chart below will help you determine how much you can expect to pay for a coin given its grade.

    1883 Indian Head Penny

    DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
    1883 $5 $8 $25 $35
    Source: Red Book

    All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.