Indian penny value 1901 (rare error and no mintmark) (2023)

From 1859 to 1909, the United States Mint produced fine cents based on James B. Longacre's designs. Since all coins were minted in Philadelphia at the time, the value of the 1901 Indian penny was largely determined by its condition.

After more than a century in circulation, most surviving pieces are of poor quality, making the rare mintage valuable. Most collectors love to collect these coins for their beauty and historical significance.

*According to U.S. coin books

The History of Indian Pens Since 1901

thisJames B. Longacre, Fourth Chief Engraver, United States Mint, creating one of the most inspired coin designs in the history of the United States Mint. The Philadelphia Mint, which began minting by Indians in 1859, was the only mint to produce these cents until 1909.

The San Francisco Mint struck many cents with the S mintmark on the reverse only in the final year of minting. After that year, the famous Lincoln dime replaced this beautiful old coin.

Unlike the cents you see today, the first coins minted from 1793 to 1857 were larger than half dollars. At the time, it was very profitable for the U.S. Mint to produce cents and half cents, but things changed in 1850.

In 1848, James W. Marshall discovered gold and the famous California Gold Rush caused many problems for the US Mint until the end of 1855.

About 300,000 people came to the country in search of gold, which increased the amount of this precious metal on the market. One of the consequences is an increase in copper prices, making it necessary to find alternative solutions to secure future revenues.

The result was a modified and reduced size Minute coin in 1857. Another step was to change its composition and start producing cents that were only 88 percent copper with nickel added.

The first minute piece was the Flying Eagle dime minted in 1857-1858, but was quickly superseded. The alloy was used for the first Indian Head pennies until 1864, when coins again began to contain 95 percent copper.

Interestingly, Longacre changed the reverse of the coin the following year, replacing the laurel wreath with an oak wreath. The second step is to add a guard on top between the cornice edges.

Since the 1901 Indian pennies were minted eight years before the end of the series, they are considered a late release. As with other Indian pennies of later times, this was quite high for its time.

Experts believe the reason lies in the abundance of penny-for-penny services in the early 20th century. That's why this little coin is so vital to the lives of ordinary Americans.

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Features of 1901 Indian Head Penny

The U.S. Mint produced the fine Indian Head penny from 1859 until 1909, when it was replaced by the Lincoln penny. However, all coins in the series are collectible and many collectors prefer to seek out the best preserved coins.

Obverse of 1901 Indian Head Penny

Despite its common name, the "Indian Head Penny," the obverse of the coin depicts a fictional white Lady Liberty wearing an Indian headdress. Ironically, the Longacre carver made this design at a time when Native Americans were migrating to reservations after losing their land.

The headband features "Liberty" printed in the center surrounded by "United States of America" ​​with the year of mint added to the lower edge.

Back of 1901 Indian Head Penny

The 1901 Indian Penny bears the ONE CENT denomination on the reverse, with an oak wreath engraved around the edge of the coin. A ribbon tied in a bow connects two branches, and an arrow is located at the bottom of the composition.

The central upper part is reserved for the shield. This design differs from the original design, which was altered in 1858, by not having a shield, but instead having an oak wreath around the denomination.

Additional Features of the 1901 Indian Head Penny

The face value of the Indian penny in 1901 was one cent. This zinc and tin copper coin has flat edges and is 1.75 inches (19 mm) in diameter. It weighs 0.1097 ounces (3.11 grams) and is 0.03938 inches (1mm) thick.

1901 Indian Head Penny Value Guide

In 1901, only the Philadelphia Mint produced Indian penny heads. Of the 79,611,143 coins minted, all but less than 2,000 were released immediately.

Today, most coins wear out over the years on the open market, so prices for such ancient coins are low. Only the best preserved and highly collectible coins are worth money in the current market.

Unminted 1901 Indian Head Penny

In 1901, the Philadelphia Mint regularly struck 79,609,158 Indian pennies, but none bore mint marks. Since they're often in poor condition after decades of circulation, you can find one for $1 to $30.

Even the unmined coins are relatively cheap, with brown coins typically selling for $30 to $155.

*Author gray form

The more valuable reddish-brown coins are more expensive, ranging from about $50 to $575 a coin. However, top-quality samples can sometimes fetch $1,600 to $2,000 at auction.

As expected, the most expensive are sharp-cut pieces with a desirable sheen and red tint. They typically cost between $80 and $600, but collectors are willing to pay $1,000 to $6,000 for the top grades. In an unexpected twist, one of the beautiful coins fetched $33,600 at the 2021 Heritage auction.

1901 Indian Head Proof Penny

In addition to the regular coins, the Philadelphia Mint struck a proof piece of the 1901 Indian Penny in 1985. Such a low mintage makes these pennies quite expensive, with even the most unpopular brown coins fetching between $110 and $2,000.

Pieces in reddish-brown tones, however, are better value, as they range from $135 to $1,200, depending on how well preserved they are. Diamonds with a grade of PR 67 can sometimes fetch $2,000 to $2,400 at auction.

*Author gray form

It is virtually impossible to find red pennies minted this year above grade MS 65. So the price range for existing coins is $200 to $1,320. In 2006, a collector set an auction record by purchasing a rare, high-quality 1901 red Native American penny for $17,250.

This is not the most expensive 1901 Indian penny ever to come on the market. The auction record winner, a cameo-contrast coin, fetched an astounding $49,938 in 2020.

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1901 Indian Head Penny Error

The 1901 Indian Penny Collection is known for its exceptional quality and rare errors. As such, you can expect that existing coins with minor flaws are not particularly valuable.

double the acre

One of the most recognizable mistakes in the Indian penny is the Longacre double. You may notice that such coins have double the date and letters, forming so-called lips or shoulders on either side of the design element.

This defect is not a true double mold, but occurs due to the center of the main mold. Although no one is sure exactly what caused the error, many collectors value the coins, increasing their value.

outside the center

A small number of 1901 Indian pennies have off-center flaws, but these rarely exceed 10%. However, it is nearly impossible to find such an intact coin, and existing coins can be worth as much as $500.

Penny Crokingom

These rare 1901 coins have error CRK-001 visible below the chin of Statue of Liberty.

This is the result of an internal die failure and you can make out some feathers and forehead jewels as seen on coins minted in other years. Some collectors consider this crackle exotic and collectible, so you can find a buyer quickly.

1901 Indian Head Penny FAQs

What makes the 1901 India fountain pen so rare?

Despite their age, most Indian head pennies are common and affordable in the current coin market. However, you may find high-quality coins with an attractive red hue very rarely. Also, some bugs may be rare and require a fee.

Which 1901 Indian Penny is more expensive?

• A 1901 PR 67+ CAM Indian Head penny set an auction record at the 2020 Legendary Rare Coin Auction for $49,938.
• A 1901 MS 67+ RD Indian Head Penny set an auction record at $33,600 at the 2021 Heritage Auctions.
• A 1901 PR 68 RD Indian Head penny set an auction record at the 2006 Heritage auction for $17,250.
• A 1901 PR 67* RB Indian Head Penny set an auction record at $9,988 at Heritage Auctions in 2012.
• A 1901 6.6 billion Indian Head penny set an auction record at the 2006 Heritage auction for $3,220.
• A 1901 MS 67 RB Indian Head penny set an auction record at $2,185 at Heritage Auctions in 2004.
• A 1901 AU 58+ BN Indian Head Penny set a record price of $1,404 at the 2013 Great Collections auction.
• In 2016, a 1901 AU 50 RPD FS-301 S-19 BN Indian Head Penny set an auction record on eBay for $150.

How much is an unmintmarked 1901 Indian Head penny worth?

1901 Indian pennies typically cost $1 to $30, but those with the desired hue can fetch $30 to $6,000, depending on condition. However, you can always expect a few surprises. For example, one of the most beautiful coins sold at auction in 2021 for $33,600.

What is the most expensive Indian rupee?

One collector paid $161,000 for an 1864 PR 65 L Indian penny ribbon head, the most expensive in the collection. However, the most expensive regular minted coins are:

• An 1877 MS 66 fountain pen sells for $149,500
• 1902 MS 68 RD Penny Sold for $144,000
• An 1872 MS 66 fountain pen sells for $126,500
• 1899 MS 68 RD Penny Sold for $108,000
• 1897 PR 67+ DCAM fountain pen sells for $108,000
• 1909 S MS 67 Fountain Pen $97,750
• 1877 67p sold for $97,750