Nearing the end of the Indian Head’s production, the 1904 edition is a crucial part of any collection. More often than not, because these were some of the last Indian Heads produced, you will see many collectors beginning their collection with editions from the early 1900s. Still, any collector ultimately desires to get their hands on an Indian Head Penny that is in pristine condition.
With coins that are more than 100 years old, it goes without saying that not all of them will be in great shape, so the challenge of finding one is not getting easier.
For collectors, finding a coin such as the 1904 Indian Head is only half the challenge. While it may not be the most difficult of tasks to find one of these coins, finding one of them in great condition is something not everyone can do. The reason for this is due to the fact that only a few well-preserved coins from this year are still around.
When you do judge the condition of an Indian Head, you are really embarking on the process of grading the coin. While typically grading can only be performed by a professional service, the specifications below will help you gain a better understanding of what qualities coins of a certain grade will possess.
Uncirculated: Uncirculated 1904 Indian Heads are the best of the best. They spent no time exchanging hands and will have all of their imagery preserved with all of the coin’s texture still intact. The coin itself will have lost much of the mint’s original luster, but that is an unavoidable side effect of the aging process.
Extremely Fine: An Extremely Fine 1904 Indian Head is also a prize for any collector. These coins saw some time in circulation, but were for the most part well-preserved and kept away from situations that would have caused damage and wear. The imagery and texture of the coin will also have been well-preserved over the years.
Fine: A coin deserving of this grade will show ample signs of wear, but these will not be so severe that the coin’s imagery is unable to be made out with the naked eye. Unfortunately, because the coin was circulated so extensively, its shine will have completely faded, as will have some of the texture.
Good: These are the roughest of the rough as far as the 1904 Indian Head Penny is concerned. These coins have seen many, many years in circulation and have gotten damaged along the way. Chipping, scratching, and bending are all common characteristics of coins graded to be Good.
With regard to the price of this coin, look no further than the condition and the grade it has been given. With coins this old, the grade is the best, quickest way to derive an accurate valuation. Just because these coins are not very difficult to be found does not mean you can find one in great condition. By way of the chart below, you can determine a rough price for a 1904 Indian Head given the coin’s grade.
1904 Indian Head Penny
|1904||$2||$4.50||$10||$20||Source: Red Book|