The value of an 1898 Indian Head Penny can vary significantly depending on its condition (grade) and any unique characteristics it might possess.
Here’s a general overview of its value based on condition:
- Average circulated condition: Around $3.
- Better circulated condition (e.g., Very Fine to Extremely Fine): Roughly $5 to $15.
- Uncirculated condition (Mint State): The value can range from $32 up to $1,495 or even more for exceptionally well-preserved examples. A PCGS graded MS-67 Red example sold for $26,000 at auction.
- Condition/Grade: The primary driver of value. Coins with less wear and tear, better luster, and sharper details will fetch higher prices.
- Rarity: While 1898 Indian Head pennies are not considered exceptionally rare in general, specific varieties or errors can be quite scarce and valuable.
- Mint Mark: The 1898 Indian Head penny was minted in Philadelphia, which did not use a mint mark.
- Demand: The current collector market and interest in Indian Head pennies can also influence their value.
- Consult a professional: Consider having your coin professionally graded by a reputable service like PCGS or NGC. This provides an objective assessment of the coin’s condition and can help you understand its potential worth.
- Research recent sales: Look at past auction results and dealer listings for similar coins in comparable conditions.
- Use price guides: Reference coin price guides and catalogs like the Red Book to get estimated values.
- Examine closely: Carefully inspect the coin for details such as wear on the design elements, luster, scratches, and other blemishes.
- Cleaning an old coin can significantly reduce its value, so it’s generally not recommended.
How much is an 1898 old penny worth?
Mintage for the Penny design struck dated 1898 is recorded as 14,296,836 coins. A mid grade condition 1898 Bronze Penny is worth about £10.50. (value mid point between VF and EF). View all English coins struck dated 1898.
What is the error on the 1898 penny?
Great question! Looks very normal this coin sold for $625. At auction here is an 1898. That has been triple struck. And rotated in collar. So as we zoom in there you can see the design double struck a nice mint error