How Much Is an 1898 Penny Worth?

What you see is likely one of the oldest coins you can realistically get on the US market. Indian Head design might have been long gone, but the 1898 Indian Head Penny value persists. The Good condition price starts from $6 dollars.

What Is the 1898 Indian Head Penny?

The Indian Head Cent is a U.S. one-cent coin that was part of the Indian Head series, minted from 1859 to 1909.

The origin of the cent is technical. The series that preceded it was the Flying Eagle cent. With the 1857 Flying Eagle cent, people started to notice many minting design problems.

Item Design

The US Mint had to replace the coin, and James B. Longacre decided on a better piece for production, the Indian Head.

Obverse (Front) Design: Liberty in a Native headdress. Her hat is based on a Native American war bonnet, but stylized to fit Liberty’s classical profile. The word “LIBERTY” is inscribed across the band of her headdress. Around the rim, an inscription reads “UNITED STATES OF AMERICA.” At the bottom lies the date.

Reverse (Back) Design: A wreath of oak leaves tied at the base with a ribbon. The wreath surrounds a centerpiece denomination “ONE CENT.” The shield of the Union is at the top of the wreath. At the bottom, the ribbon also ties together three arrows.

How Much Is a 1898 Indian Head Penny Worth Today?

Mainly from the Philadelphia Mint, Denver, and perhaps San Francisco / West Point for special editions. But in the past, we had a different situation, and the Indian item had only one main issue, from Philadelphia, and without a mint mark.

"A single grade jump from MS-65 to MS-66 can represent a doubling in price, as collectors compete for the few coins that escaped the chocolate-brown toning typical of 19th-century bronze."
– Q. David Bowers, expert
A Guide Book of Flying Eagle and Indian Head Cents

The total mintage back in the year was only 49,821,284, quite a small number for today’s standards, but a relatively common mintage for its age.

More Mint facilities would join the production only closer to the end of the production of the Indian item. For example, the 1908 Indian Head penny had an “S” variety from the San Francisco Mint.

Philadelphia was, again, the main issue, but it also made a special variety. In 1989, the Philadelphia Mint made a limited number of proof cents (about 1,800). Proofs have sharper details, squared rims, and reflective or mirror-like surfaces. Such coins are more valuable than others.

1898 Penny Value Chart

How much is a 1898 penny worth in the numismatic field? Now that we’ve gotten a taste of the 1898 Indian penny value factors, it's time to see the full prices.

What conclusion can we make? For most grades, the value of the Indian Head penny 1898 is not exceptionally high. Above the face value of a 1898 indian head penny, but compared to most other old pieces, not too high. The lower prices are attributed to two things: copper composition and a relatively high mintage for the past era.

But worry not. Perhaps you’ll find an error piece or a pristine red Indian penny 1898. Collectors operate on luck, after all!

What Factors Affect the Value of an 1898 Indian Head Penny?

How much an item is worth depends on a few key factors. If we want to know the 1898 Indian Head penny value today, we need to observe these factors first:

Condition (Grade)

Worn coins in Good to Fine condition are usually worth only a few dollars. Coins with light wear (Very Fine to Extra Fine) typically sell for $10–$25.

• Higher-grade examples (About Uncirculated or Mint State) can be worth $50–$100 or more.

• Gem-quality pieces (MS65 and higher) can bring several hundred dollars.

Color Designation

Copper coins change color over time, and this greatly affects the value of 1898 Indian Head penny. Red penny values are always high, not only for Indian cents, but for other dies, too.

Eye Appeal

Coins with attractive surfaces, even toning, or strong luster often command premium prices; do not confuse them with the 1898 Wheat penny. Conversely, coins with spots, corrosion, scratches, or cleaning marks lose 1898 Indian Head penny coin value.

Errors

Most coins have no errors, so when there’s a mishap during production, the coin is rare and valuable by definition. Some errors could be worth hundreds of dollars, but not the 1898 Indian Head wheat penny.

Rare 1898 Indian Head Penny Errors and Varieties

• Misplaced Date Defect

This is a high-demand variety where the mint worker accidentally struck parts of a practice date into the die in the wrong spot. Look closely at the denticles (the tooth-like bumps) directly under the primary date. You will see the top of an "8" or a "9" clearly sticking out from the border pattern.

What is a 1898 Indian Head penny worth with the defect? $90–$400+

• Re-Punched Date (RPD)

The date was punched into the die twice, often because the first strike was too light or slightly misaligned. Look for doubling or ghost-like edges. The most famous for this year is RPD-012 (Snow-15), which shows clear doubling on the final "8."

$25–$100

• Capped Die & Double Strikes

These are striking errors rather than die varieties, meaning they happened during the press process.

Obverse Struck Thru Capped Die occurs when a coin gets stuck on the upper die and strikes subsequent coins. Double Strike Off-Center is struck once correctly, but fails to eject and is struck again off-center. How much is a penny from 1898 worth with the double strike error?

$400–$700

• Die Cracks & Cuds

By the year, the Mint was pushing its equipment to the limit. Die cracks (raised lines of metal) are common, but Cuds are rare. A piece of the die breaks off entirely, leaving a smooth, raised blob of metal on the coin's edge that obliterates part of the design, called a Cud.

What is a 1898 penny worth with a Cud? $150+

How to Grade a 1898 Indian Head Penny

Grading is essential for old coins. Many of them erode with time due to bad handling or storage, and grading helps determine how well a piece was preserved.

Coins are graded on a scale from 1 to 70. The higher the number, the higher the Indian Head penny 1898 value.

• Good

Liberty’s portrait is a flat outline, feathers nearly gone, LIBERTY not visible. The reverse wreath is flat with almost no detail; the shield is very weak. Date clear.

• Very Good

Liberty’s outline is distinct, and some feather shapes show. One or two letters of LIBERTY are faint. The wreath shows basic shape, but details are mostly gone.

• Fine

At least 3 letters of LIBERTY are readable. Feathers outlined with worn tips. Reverse wreath shows partial leaf detail; shield visible but weak.

• Very Fine

All letters of LIBERTY are visible, though some are weak. Feather lines and hair curls are clearer. The reverse wreath and bow show strong detail, the shield sharper.

• Extremely Fine

LIBERTY is sharp and clear. Hair curls and feathers are distinct, with only light wear on the highest points. Wreath, bow, and shield are nearly fully detailed.

• About Uncirculated

Only slight wear on the feather tips, hair curls, or wreath bow. Nearly full mint luster present. Shield crisp and sharp.

• Mint State

No wear. Full feather and hair details with original mint luster. The reverse wreath and shield are sharp.

Where to Sell or Buy an 1898 Indian Penny

If you prefer face-to-face transactions, there are two options – the industry gold standards:

• Whitman Coin & Collectibles Expo is held multiple times a year (notably in Baltimore). It is one of the largest gatherings where hundreds of dealers compete for the value of 1898 penny for inventory.

• The ANA World’s Fair of Money is the most prestigious annual event. If you have a rare error or a high-grade Red issue, this is where the world’s top buyers congregate.

If you prefer a faster sale, choose the dealer:

• American Numismatic Association (ANA) Members – look for dealers with the ANA logo. The ANA Directory allows you to search for specialists in Early American Coppers or Small Cents, who will have the deepest knowledge of varieties.

• The Professional Numismatists Guild (PNG) – use the PNG Dealer Locator. Members must adhere to a strict Code of Ethics and demonstrate significant financial worth. Selling to a PNG dealer ensures you are dealing with a vetted professional.

Auction Records 2023–2026

How much is an 1898 Indian Head penny worth in the auctions? Below is a table with auction record prices for 2023–2026 Red pieces. The information in the table is taken from the services of PCGS and NGC. What is an 1898 Indian Head penny worth in the Heritage Auctions?

FAQ

Related Coin Value Guides

• 1864 Indian Head Penny Coin Value
• 1932 Washington Quarter Coin Value
• 1883 Liberty Head Nickel Coin Value
• 1934 Silver Quarter Coin Value
• 1890 Liberty Dime Coin Value
• 1853 Half Dime Coin Value