Expert: PAPAJACK - 9/19/2009

Question
i have a 1907 USA one cent coin with a Indian on the date side. On the back it has one cent and a wreath on it. can you tell me anything on the coin like how long they used them is it worth a lot?

Answer
Hello Zak,                        

Did someone give you this coin I collect them as well.  I hang on to many in lower grades even common date ones like yours and give them out to young collectors.  They are history in your hands. The US only went to the small cent in 1856, with the flying eagle cent that only lasted three years. They then created the INDIAN HEAD CENT. Designed by James B. Longacre. The front is Lady Liberty wearing an Indian Headdress.  

There were millions made and changed to the Lincoln cent in 1909 (we still use the Lincoln Cent today)  It has been so long that all younger people forget there was ever anything else, I often give examples of these to children in holders (so they don’t get spent).

Although the Indian Head cent design proved to be popular, during 1909 it was announced the design would be changed mid-year in favor of a portrait of Abraham Lincoln designed by Victor D. Brenner to commemorate the centennial anniversary of Lincoln’s birth.

In terms of value, you won’t be rich unless you have a 1908-S, 1909-S or the 1877.

Coins are valued on a scale from 1 to 70. Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale.
Only a strictly uncirculated coin can grade Mint State between 60 and 70.

The Indian Head Cent can be roughly graded by the word LIBERTY on the headband. If it is not there at all, they are grade 4 or less. If there are at least 3 letters it will grade 8, all letters grade 12 etc... And the diamond pattern on the ribbon behind the hair. There are 4 diamonds visible on high grade coins.
In short for the 1907 INDIAN HEAD CENT - All the letters in LIBERTY must show on the Headdress to be more valuable.  The coin runs $1.00 to $9.00 each. If circulated grades $3.00 or less.  

Below are some more specific notes to help you evaluate your coin. Use a good light and a magnifying glass:
Notice the word LIBERTY on the head band. See if all four diamond patterns exist on the ribbons coming down from lady Liberty’s’ Indian Headdress to her shoulder.
Check for how sharp the beads she wears are. On the back of the coin, look at the lines in the shield and the leaves in the wreath for crispness and the ear of corn for its kernels.

Values for the 1907 Indian Cent;

Good (grade 4) - No liberty visible, full date and rim is complete.
G4 =   .40 TO $1

Very Good (grade 8) - At least Three letters show in headband.
VG8 =   .45 TO $1.75

Fine (grade 12) - Liberty completely visible.
F12 = $1.00 TO $2

Very Fine (grade 20) - Slight but even wear on coin all features visible.
VF20 = $2.  TO $3

Extremely Fine (grade 40) - Liberty sharp. All other details are sharp. There would be only slight wear on ribbon end in the hair.
EF40 = $5 TO $8

I hope this information helps.

Good Luck,

PapaJack