Being one of the newer Indian Head Pennies minted, the 1902 edition is not nearly as difficult to find as some of its earlier counterparts. Still, any collector who is looking to put together a complete collection will assuredly want to get their hands on this coin. Further, these collectors almost always want to get their hands on a 1902 edition that is in the best possible condition.
The US Mint has produced so many attractive and valuable coins over the years, but few coin series are most attractive than the Indian Head Penny. These coins were not only produced for a long time, they were also used far beyond the years they were minted, making them a crucial part of US coinage history.
As is the case with any Indian Head Penny, collectors will always look first to the condition of the coin. Naturally, collectors are looking to add the most pristine coins to their respective collections. Because of the extreme focus on the condition of the coin, very few well-preserved 1902 Indian Head Pennies have managed to survive the years.
When it comes to officially assessing the condition of a 1902 Indian Head Penny, look no further than the grade. If your coin does not have a grade, you can use the specifications below to gain a better idea of what Indian Heads of certain grades will look like.
Uncirculated: To receive this grade, the coin in question will have had to spent an overwhelming majority of its life in safekeeping. These coins will show almost no signs of wear and will have retained almost all of the original texture. Unfortunately, the process of aging will have worn some of the coin’s original luster and freshness, but all in all these coins are in excellent shape.
Extremely Fine: A coin deserving of an Extremely Fine grade is one that has seen only a limited length of time in circulation. These coins will show some signs of wear, but for the most part will appear to be pristine. The only way to determine what damage has been done to the coin is by analyzing its condition extremely closely.
Fine: These coins saw plenty of time in circulation, but were taken out before their condition was worn down extremely. Still, without too much trouble you will see plenty of scratching and chipping. The coin’s images will be starting to fade, as will the overall texture of the coin. Coins in this condition are prized by collectors simply because most 1902 Indian Heads are pretty heavily worn.
Good: This is the grade you will see given to most 1902 Indian Heads simply because these coins were so commonly used during the day-to-day life of the average American. The coin itself will show plenty of wear, including heavy scratching, chipping, and in some cases even bending. Much of the imagery and texture will have gone with the years as well.
For coins like the 1902 Indian Head Penny, of which are more than one hundred years old, the best way to determine a price is by looking at the coin’s grade. Typically, the coins that are in the best condition sell for the most money, and there is no exception with the 1902 Indian Head. By using the chart below, you can determine how much an Indian Head is worth, given the coin’s grade.
1902 Indian Head Penny
|1902||$2||$4.50||$10||$20||Source: Red Book|