The 1877 Indian Cent

Indian Cents spawned several key and semi-key dates over the course of the series, running from 1859 through 1909. And while the series is one of the most affordable of the 19th-century coins and is easily the most accessible to those who wish to build a comprehensive collection of coins from the period, many Indian Cents are considerably rare and quite valuable. The most notable of these among the regular-issue business strikes is the 1877, which is widely recognized as the indisputable key date of the series.

The 1877 Indian Cent

The 1877 Indian Cent is a scarce coin, perhaps much rarer in many respects than its mintage of 852,500 may immediately suggest. Indian “Pennies” saw widespread use during the late 19th century and were workhorse coins during that era. Philadelphia-minted cents were not routinely saved in the late 1870s and early 1880s, when the 1877 Indian Cent was still a new coin. In fact, collecting Indian Cents and other contemporary United States coins by date didn’t really become en vogue until decades later, with the introduction of coin folders and albums designed for those coins.

By that time, the 1877 Indian Cent had seen surviving quantities rapidly shrink, with extant pieces in high demand by collectors. Appetites for the coin only ramped up during the numismatic hobby boom of the 1950s and ‘60s, and the 1877 Indian Cent remains atop want lists of collectors young and seasoned who seek the coin for their sets today.

Buying The 1877 Cent

Expensive in all grades, the 1877 Indian Cent usually proves to be the toughest of all business strikes in the series for the typical collector, with even the least-expensive examples trading for $500 in G4. The coin is remarkably challenging in higher grades, largely due to the extensive use this coin saw during its heyday in commerce. This fact is reflected in the diminished availability of the 1877 in grades higher than F12 to VF20, where the coin trades for $900 to $1,250.

All told, PCGS estimates there are 5,000 to 6,000 examples of the 1877 across all grades and designations, with 150 in Red Mint State grades and just 50 grading MS65RD or higher. The collector can expect to shell out $4,000 to $5,000 for an example graded MS61BN to MS62BN, while those seeking specimens in better grades see prices flirting with or traipsing past the five-figure threshold. An MS64RB fetches $9,500, and MS65RD specimens realize $32,500. The record price for an 1877 Indian Cent goes to an example graded PCGS MS66RD and that took $149,500 in a 2007 Heritage Auctions event.

Collecting The Key Indian Cent

Needless to say, the 1877 Indian Cent inspires fervent bidding among collectors when high-end specimens hit the auction circuit. It’s hard to resist a coin like this one, which has lured collectors for generations. Handsome circulated specimens with original patinas of chocolate brown are just as attractive to the savvy collector as uncirculated examples with Mint Red bloom. Eye appeal is critical to collectors who are building high-end sets of Indian Cents, regardless of grade.

The PCGS Set Registry includes many collections incorporating choice 1877 Indian Cents across all grades. Collectors representing various levels of income and experience are building sensational Indian Cent Registry Sets, which number well over a dozen different types and include assemblages composed of regular-issue circulation strikes as well as sets incorporating varieties and proofs.