As one of the last Indian Head Pennies ever produced, the 1903 edition is of particular importance. Of all the coin series produced by the US Mint from the time it was founded in the 1700s, few are more important to collectors than the Indian Head Penny. These coins were minted for many, many decades and were used by Americans for even longer than that.
For any collector, it is important to get ahold of the 1903 Indian Head Penny, but even more important to get ahold of one in great shape. Because these coins are well over 100 years old, however, it is not such an easy task to find a 1903 Indian Head Penny in pristine condition.
Indian Head Pennies are all more than 100 years old and, as such, their condition can vary dramatically from one coin to the next. Collectors are always trying to get their hands on 1903 Indian Heads in great condition, but the fact of the matter is that few of these coins have survived the years in great shape.
Officially judging the condition of a coin is known as giving the coin a grade. Though this is something that is typically performed by a professional company, you can use the specifications below to determine what a coin of a certain grade will look like.
Uncirculated: An Uncirculated 1903 Indian Head Penny is one that saw almost no time at all exchanging hands. These coins will have retained all over their original texture and imagery, and this is why collectors desire them. Apart from the coin’s luster having faded through the years, these coins are in pristine condition. Naturally, 1903 Indian Heads of this grade are not such an easy find.
Extremely Fine: In Extremely Fine condition, the 1903 Indian Head Penny is in great shape overall. Some of the coin’s faces will show some signs of wear, but overall you will not be able to find much wrong with the condition of the coin. In Extremely Fine shape, the 1903 Indian Head is quite difficult to find.
Fine: Fine Indian Heads are those that saw a decent amount of time in circulation. Due to changing of hands over the years, these coins will play host to plenty of scratching and other signs of wear. Some of the imagery may be a bit difficult to make out, but for the most part these coins are in OK shape.
Good: Good 1903 Indian Heads are in the roughest shape of them all. These coins saw many, many years in circulation and show it. They will play host to plenty of scratching, chipping, and other signs of wear. In some cases, these coins will even be bent due to being roughed up over the years.
As far as pricing the 1903 Indian Head Penny is concerned, you must look no further than the grade of the coin. For coins as old as this, the condition of the coin will directly determine just how much you will pay for the coin. The chart below will give you a good idea of how much you will pay for a coin of a certain grade.
1903 Indian Head Penny
|1903||$2||$4.50||$10||$20||Source: Red Book|