As Mint officials saw that privately issued bronze tokens were circulating, they induced Congress to pass the Coinage Act of 1864, authorizing a slimmer cent of bronze alloy.

Cents were hoarded during the economic chaos of the American Civil War, when the metal nickel was in short supply. Mint Director James Ross Snowden selected the Indian Head design and chose a laurel wreath for the reverse, that was replaced in 1860 by an oak wreath with a shield. The Flying Eagle design caused production difficulties and the Mint soon looked to replace it. In 1858, the Flying Eagle was replaced with the Indian head design. The copper-nickel made them look brighter and they began to be called 'White cent' or 'Nicks'. This was the first use of copper-nickel for United States coins. The new pieces were identical in diameter to modern cents, though thicker. In 1857, the Mint reduced the size of the cent and changed the composition to 12% nickel and 88% copper ( copper-nickel), issuing a new design, the Flying Eagle cent. Cent and half-cent manufacture was one of the only profit centers for the Mint and by 1850 it began looking for alternatives. As gold became more abundant, the price of copper rose. The discovery of gold in California caused a large inflation in prices. It was designed by James Barton Longacre, the Chief Engraver at the Philadelphia Mint.įrom 1793 to 1857, the cent was a copper coin about the size of a half dollar. Your box of old coins is worth a careful look.The Indian Head cent, also known as an Indian Head penny, was a one-cent coin ($0.01) produced by the United States Bureau of the Mint from 1859 to 1909. Multiple bids showing high interest as collectors looked to add a stunning prize to any advanced collection. When this one became available bidding at a David Lawrence rare coin auction raised gem quality 1907 Indian head penny value to $511. Top condition examples of these old coins are infrequent to the market. Additionally, contact with hands, other coins and the elements was minimal. Expert care preserves the original orange-red copper color, as well as the luster imparted in the minting process. Pictured is a gem quality 1907 penny, considered one to the finest condition Indian pennies to remain. However, top condition examples are elusive and avidly collected. With so many minted (the largest number in any year) and at the ending of the series, large numbers remain. A 1907 Indian head penny is one of those years readily available in heavily worn condition.

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