Indian Head Penny
1899
Of all the pennies ever produced, the Indian Head style is one of the most popular among coin collectors. These coins debuted in the years prior to the Civil War and were continued until shortly after the turn of the 20th century. Let us examine the attributes of this coin that maintain its popularity among contemporary collectors.
We can trace the origins of the Indian Head Penny back to the Large Cent. Large Cent coins were first minted in 1793 but faced immediate public dissatisfaction due to the U.S. law barring the use of any metal other than Silver and Gold as legal tender. Because of this, Large Cents were not able to be used to pay taxes or any other government payment. Shopkeepers or tradespeople could refuse them as payment at any time. Large Cents were simply unreliable and inconvenient.
By the middle of the 19th century, fluctuations in the price of copper compelled the U.S. Mint to reduce the size of their pennies, as Large Cents were nearly the same size as a modern Half Dollar, and also to seek metal compositions other than pure copper. This need drove the mint to develop the Flying Eagle Penny, which was struck only from 1856-1858. This coin differed from previous pennies in that its metal content was less than 90% copper. Unfortunately, these coins quickly succumbed to design flaws and had to be replaced. Their replacement was the iconic Indian Head Penny, which was launched on the market in 1859.
Donor: Ward Tift
Adopted by:
1899
Of all the pennies ever produced, the Indian Head style is one of the most popular among coin collectors. These coins debuted in the years prior to the Civil War and were continued until shortly after the turn of the 20th century. Let us examine the attributes of this coin that maintain its popularity among contemporary collectors.
We can trace the origins of the Indian Head Penny back to the Large Cent. Large Cent coins were first minted in 1793 but faced immediate public dissatisfaction due to the U.S. law barring the use of any metal other than Silver and Gold as legal tender. Because of this, Large Cents were not able to be used to pay taxes or any other government payment. Shopkeepers or tradespeople could refuse them as payment at any time. Large Cents were simply unreliable and inconvenient.
By the middle of the 19th century, fluctuations in the price of copper compelled the U.S. Mint to reduce the size of their pennies, as Large Cents were nearly the same size as a modern Half Dollar, and also to seek metal compositions other than pure copper. This need drove the mint to develop the Flying Eagle Penny, which was struck only from 1856-1858. This coin differed from previous pennies in that its metal content was less than 90% copper. Unfortunately, these coins quickly succumbed to design flaws and had to be replaced. Their replacement was the iconic Indian Head Penny, which was launched on the market in 1859.
Donor: Ward Tift
Adopted by: