Among Indian cents of the 1859-1909 era, the most desired date is the 1877, followed by 1872, 1871, and a variety of 1864 with L (the initial of the designer, Longacre) on the headdress ribbon. Toward the end of the series, Indian cents were struck at a branch mint for the first time. 1908-S and 1909-S Indian cents are both prized today, with the 1909-S being considerably scarcer.

Indian cents were high on the list of popular American series until the mid-1960s, when several dealers made a practice of artificially treating Extremely Fine and AU pieces to make them appear to be Uncirculated. Offered at bargain prices to the unwary, such "Uncirculated" coins found a ready market. Later, as collectors discovered the deception, there was much disillusionment. As methods of treating and processing coins became more sophisticated, more and more Indian cents were artificially colored. As a result, since the mid-1960s Indian cents have attracted a much smaller following. Today it takes an experienced buyer to tell original toning from artificial, and as if that were not enough, coins with original surfaces are few and far between.

For the patient, knowledgeable collector the formation of a set of high grade Indian cents can be a fascinating challenge and, when completed, will constitute a beautiful display. However, forming such will require a great amount of work, and no small degree of frustration, for even slabbed MS-63 and finer coins often have poor aesthetic appeal. Forming a nice set of Indian cents does not have to be an expensive undertaking. Not to be overlooked is the pleasure, low cost, and numismatic satisfaction of assembling a set of Indian cents in nicely matched EF-40 or AU-50 grade. This also will require some effort but not a great deal of expense.

Interestingly, prices for high grade Indian cents are not much higher now than they were 15 years ago, an anomalous situation caused by damage done to the market by the cleaning and artificial toning referred to earlier. You may want to investigate joining the recently formed Fly-In Club, devoted to Flying Eagle and Indian cents.

Budget Recommendations: Build a nicely-matched circulated set, with the issues 1858-1878 in G-4 to VG-8 grade, and the later issues VF-20. The scarce 1908-S and 1909-S may be acquired in F-12 grade. A "short set" of Philadelphia Mint cents 1879-1909 in EF-40 grade is inexpensive, beautiful, and satisfying to own.