In rare cases where the collector needs only one coin to complete the series, the 1898 Indian head penny can actually cost a small fortune. However, only a few remained in perfect condition, and dedicated numismatists are ready to search for years for a well-preserved penny and to pay it dearly. 1898 Indian head pennyīy the end of the year, this penny mintage came close to 50 million coins. Plus, the US Congress declared war on Spain on April 25, 1898. The Civil war ended more than 30 years ago, and society and the economy were recovering. Since people were using them daily, there were not many coins in a mint state.ġ898 Indian head penny is not rare thanks to the historic moment. It contained 88% copper and 12% nickel until the Philadelphia mint changed its composition to 95% copper and 5% tin and zinc.
The average mintage for the Indian head pennies was 34,252,575 a year.
The San Francisco mint also made Indian head pennies, but only in the last two years of the series, 19. The Philadelphia mint produced Indian head pennies from 1859 to 1909, when it began to mint new Lincoln pennies. The first Indian head penny was minted in 1859 to replace the Flying eagle pennies that had design problems.
