The 1907 Indian Head Cent is an important and historic coin in American numismatics. Struck during a time of economic upheaval, this coin was produced in large quantities to meet the growing demand for small change. Despite the Panic of 1907, which caused the stock market to crash, the U.S. Mint continued to strike Indian Head Cents. This guide will give you a closer look at the history, design, market data, and value of the 1907 Indian Head Cent.
History of the 1907 Indian Head Cent
The 1907 Indian Head Cent was minted at a time when the U.S. economy was facing challenges. The Panic of 1907 led to a sharp decline in the stock market, yet the Mint continued to produce large numbers of Indian Head Cents. The demand for small change increased because of the rise of coin-operated machines and the introduction of goods that cost just one cent. To meet this growing demand, Congress passed the Act of April 24, 1906, allowing the Mint to strike coins at more locations, beyond just Philadelphia. In 1907, the Mint produced over 100 million of these coins, setting a record for the Indian Head Cent series.
1907 Indian Head Cent in Today’s Market
The 1907 Indian Head Cent is one of the more common coins to collect from this series. Coins in the lowest grades (like G6) can be found easily at coin shops or shows for a dollar or less. The value of these coins depends largely on their condition and color designation. The three main color designations are:
- RD (Red): Coins that retain most of their original copper color.
- RB (Red-Brown): Coins that have started to darken with age.
- BN (Brown): Coins that have turned a dark brown color.
A coin’s grade, such as MS64, MS65, or MS67, also impacts its value. For example:
- A coin with the RB designation and MS64 grade may sell for $80 to $100.
- A coin with the RD designation in MS65 can sell for $250 to $400.
- The highest-grade RD coins (MS67) can be worth over $20,000, especially if they are from the top population of MS67+ examples.
Market Data and Noteworthy Specimens
Some of the most valuable 1907 Indian Head Cents have sold for thousands of dollars. Here are a few examples:
| Grade | Designation | Price Range | Notable Auction |
|---|---|---|---|
| MS67+ | RD | Over $20,000 | $63,000 (2019) |
| MS67 | RD | $25,000 – $30,000 | $25,200 (2022) |
| MS66 | RD | $5,000 – $10,000 | – |
The highest graded coins can achieve premium prices at auctions, as seen with the $63,000 sale of a MS67+ RD coin in 2019.
Design of the 1907 Indian Head Cent
The Indian Head Cent was designed by James B. Longacre, who also created other famous U.S. coins. The obverse features a Native American headdress, but it is actually Lady Liberty, symbolized with a feathered headdress. Longacre’s design was inspired by various influences, including a Greco-Roman statue. The reverse shows a Union shield at the top of an oak wreath, surrounding the words “ONE CENT.”
The coin has a plain edge and no mintmark, as it was struck at the Philadelphia Mint.
Varieties and Collecting Tips
The 1907 Indian Head Cent is known for several varieties, including repunched dates (FS-301, FS-302, and FS-303). These varieties can affect the coin’s value and are of particular interest to collectors. The coin was issued in high numbers, but higher-grade coins with full red coloration are much rarer and more valuable.
Coin Specifications
| Feature | Description |
|---|---|
| Country | United States of America |
| Year of Issue | 1907 |
| Denomination | One Cent (USD) |
| Mintmark | None (Philadelphia) |
| Mintage | 108,137,143 |
| Alloy | 95% Copper, 5% Zinc and Tin |
| Weight | 3.11 grams |
| Diameter | 19.00 mm |
| Edge | Plain |
| Designers | James Barton Longacre |
Conclusion
The 1907 Indian Head Cent remains a key piece in the history of U.S. coins. While it’s one of the more common coins in the Indian Head series, its value varies based on its color designation, grade, and demand in the market. Coins that retain their red color and are in high-grade condition can command significant prices, making this coin a popular choice among collectors. Whether you’re just starting your collection or are a seasoned numismatist, the 1907 Indian Head Cent offers an exciting opportunity for coin enthusiasts.
FAQ’s
What is the value of a 1907 Indian Head Cent?
The value of a 1907 Indian Head Cent varies depending on its grade and color. Lower-grade coins can be found for less than $1, while high-grade RD (Red) examples in MS67 can be worth over $20,000.
How can I tell if my 1907 Indian Head Cent is rare?
To determine if your coin is rare, check its color designation and grade. Coins with RD (Red) and higher grades like MS65 or MS67 are the most valuable. Additionally, look for any repunched date varieties.
Where was the 1907 Indian Head Cent minted?
The 1907 Indian Head Cent was minted in Philadelphia, and it does not have a mintmark. It was produced in record numbers to meet the demand for small change during the early 1900s.