1887 Indian Head Penny Value Guide: Is Your Coin a Rarity?
The 1887 Indian Head Penny is worth anywhere from $2 in worn condition to over $600 in premium mint state. While millions were minted, finding one in your pocket change today is a thrilling discovery that connects you directly to 19th-century American history.
| Condition / Grade | Estimated Value |
|---|---|
| Good (G-4) | $2.50 – $4.00 |
| Fine (F-12) | $6.00 – $10.00 |
| Extremely Fine (EF-40) | $25.00 – $35.00 |
| Uncirculated (MS-60) | $65.00 – $85.00 |
| Choice Uncirculated (MS-65 Red) | $450.00+ |
Understanding the 1887 Indian Head Penny Market
If you’ve stumbled upon a copper coin featuring a Native American profile, you’ve found a piece of the “Old West” era. The 1887 Indian Head Penny was struck at a time when the United States was expanding rapidly. Because these coins were used extensively in daily commerce, most surviving examples are heavily worn.
To determine if your find is a common treasure or a high-value rarity, you can use a free coin identifier app to get an instant preliminary assessment. While the mintage for 1887 was quite high—over 45 million coins—quality makes all the difference in price.
Most casual collectors will find coins in “Good” or “Fine” condition. These are generally worth a few dollars, which is still several hundred times their original face value! If you want a more detailed breakdown, using CoinKnow can help you identify subtle surface details that novices might miss.
Determining the Grade of Your 1887 Penny
Grading is the process of evaluating a coin’s wear and tear. For an 1887 Indian Head Penny, collectors look at specific areas to determine value. On the front (obverse), the word “LIBERTY” on the headband is the most important indicator. If you can read all the letters clearly, you have a high-grade coin.
On the back (reverse), check the oak wreath and the shield at the top. If the veins in the leaves are still visible, the coin hasn’t seen much circulation. Because copper reacts with the environment, the color also matters. Coins are classified as Brown (BN), Red-Brown (RB), or Red (RD).
Many collectors reference the 1887 Indian Head Penny price for Red MS state specimens to see how much a perfectly preserved, mirror-like coin can fetch at auction. In the highest categories, these coins are considered investment-grade assets.
1887 Indian Head Penny Value Chart by Condition
The following table provides a more detailed look at how the price scales based on the Numismatic Guaranty Company (NGC) or Professional Coin Grading Service (PCGS) standards. Most coins found in jars or old houses fall into the “Good” to “Fine” range.
| Grade | Description | Market Value |
|---|---|---|
| G-4 Good | Very worn, outlines represent the image. | $2.25 |
| VF-20 Very Fine | Letters in Liberty are visible but weak. | $12.00 |
| EF-40 Extremely Fine | Sharp details, only slight wear on high points. | $33.00 |
| AU-50 About Uncirculated | Trace of wear, mostly original luster. | $55.00 |
| MS-63 Mint State | No wear, noticeable distracting marks. | $115.00 |
Special Varieties and The “1887/6” Overdate Myth
In the world of coin collecting, errors often lead to massive payouts. For the 1887 series, collectors often search for the “1887/6” overdate variety, where the digit ‘7’ was punched over a ‘6’. While highly discussed, verified examples are extremely rare and often confused with simple die cracks or polishing marks.
If you believe you have an error coin, it is essential to use a high-powered loupe or a digital microscope. Compare your coin to known examples on CoinKnow to see if the doubling or overdating matches authenticated specimens. Even a minor mint error can double or triple the base value.
Interestingly, many people collect the Indian Head series by year. While 1887 isn’t as rare as the famous 1877 key date, it is a staple for “Type Set” collectors. Understanding the 1887 penny value comparison with other years like the 1898 helps you realize that older dates in this series almost always command a premium.
Where to Sell Your 1887 Indian Head Penny
Once you’ve identified your coin’s condition, the next step is deciding where to sell. For coins worth under $20, local coin shops or eBay are usually your best bet. Because of shipping costs, selling low-value coins individually online can be difficult.
For high-grade specimens (MS-60 and above), consider professional certification. PCGS or NGC grading can cost $30-$50, so it’s only worth it if your coin is valued at $150 or more. A certified coin is much easier to sell at a premium price because its authenticity and grade are guaranteed.
Before you head to a dealer, it’s a good idea to check recent “Sold” listings on auction sites. Don’t look at “Asking Prices,” as these can be wildly unrealistic. CoinKnow provides real-time market data to ensure you don’t get low-balled by a buyer during a private sale.
Protecting the Value of Your Vintage Copper
One of the biggest mistakes new hobbyists make is cleaning their coins. Never, under any circumstances, scrub your 1887 Indian Head Penny with chemicals, baking soda, or even a soft cloth. In the numismatic world, “original skin”—the natural patina a coin develops over 130 years—is highly prized.
Cleaning a coin creates microscopic scratches that are instantly visible to experts. A cleaned coin can lose 50% to 90% of its market value. Instead, handle your coin by the edges and store it in a PVC-free plastic flip or a cardboard “2×2” holder to prevent further oxidation.
If your coin has a bright red color, it likely has “original mint red,” which is the most valuable state. These coins are extremely sensitive to fingerprints; the oils from your skin can cause permanent dark spots over time. Proper storage is the key to maintaining your coin’s worth for future generations.
| Storage Method | Pros/Cons |
|---|---|
| Cardboard 2x2s | Cheap, easy to label; not airtight. |
| Plastic Flips (PVC-Free) | Good visibility; coin can slide around. |
| Hard Plastic Capsules | Great protection; slightly more expensive. |
| Professional Graded Slab | Maximum protection & value; high cost. |
FAQ about 1887 Indian Head Pennies
Q: Is there a mint mark on the 1887 Indian Head Penny?
A: No. All Indian Head Pennies from 1887 were minted at the Philadelphia Mint. During this era, the Philadelphia Mint did not use mint marks. It wasn’t until 1908 that San Francisco began minting pennies with an “S” mark.
Q: What is the rarest Indian Head Penny?
A: The 1877 is the “King” of the series and is much more valuable than the 1887. While an 1887 in Good condition is worth $2-$3, an 1877 in the same condition can be worth $500 or more.
Q: My 1887 penny looks silver. Is it an error?
A: Most likely not. Sometimes people in the past “plated” pennies with mercury or chrome for jewelry or science experiments. Genuine 1887 pennies are 95% copper and 5% tin/zinc. A “silver” one is usually considered damaged by collectors.
Q: Is it worth grading a worn 1887 penny?
A: Generally, no. If the coin is worth less than the $30-$50 grading fee, you will lose money on the transaction. Grading is reserved for coins that appear to be in “About Uncirculated” or “Mint State” condition.
Q: How can I tell if my 1887 penny is “Red”?
A: A “Red” (RD) coin retains at least 95% of its original copper luster from the day it was minted. If the coin has turned chocolate brown, it is graded as “Brown” (BN). “Red-Brown” (RB) falls in the middle. Red coins are significantly more valuable.
