1896 Indian Head penny information
ERingus
Posts: 128 ✭✭✭
I got this today from a local coin shop I was t even aware we had. I got 5 pounds of wheat Pennie’s for 40 dollars and this was in the bank bag. This is a great find I think! Any info on the condition would be welcoming.
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It's fun to find that in a wheat bag, but it's just a low grade circ (technical good) , with some environmental damage.
I still have half the bag left. I LOVE Pennie’s. I have a huge 5 gallon bucket of quarters but I can’t pull myself away from the Pennie’s! What would be, in your opinion, the greatest penny find ever?
It seems like you paid a stiff premium for the Wheat cents, but I have not purchased or sold them in bulk for a few years. At $40 for five pounds you ended up with about 5.2 cents per Wheat cent assuming you received around 768-cents (which is five-pounds weight for Wheat cents plus another 5% to account for heavy circulation).
The IHC appears to be a G-VG with corrosion.
In honor of the memory of Cpl. Michael E. Thompson
The Indian cent is a corroded G6 or VG8. Unfortunately, it is a cull and has minimal value. That is probably why it was dumped into the wheat cent mix. Don't overpay for bulk wheat cents. They are very, very common. See if you can find the photo of the wheat cent hoard on large plastic containers. It probably contains millions. Almost 40 years ago I heard of a hoard of 2 million wheat cents in my own area.
That guys garbage cans of wheat cents was awesome the car in the garage wasn’t too bad either
As for your Indian alway a nice surprise when unexpected
Martin
How about YOU tell us what you think the condition is, and see who agrees with you.
Of the pictures at https://www.pcgs.com/photograde#/Indian/Grades, which one is a best match for your coin, and why are the adjacent pictures not good matches?
Also, if you don't know how to grade an Indian Cent,
you should buy yourself a copy of the Red Book.
It shows how to grade most series, has retail values, etc.
https://www.amazon.com/Guide-Book-United-States-Coins/dp/0794848907
You can do it from the photograde page linked in the previous post,
but the Red Book is good for learning all sorts of things.
@jonathanb I would grade it at a G04. The features in the face are smooth and not visible. The detail in the wreath is no longer visible. The eye appeal is pretty low and the words are visable but not great. That’s what I would grade it as. @yosclimber I just received the red book yesterday so I went back and read about this penny and woooo weeee I’m embarrassed for even posting it, lol.
@TomB I actually ended up with 30 rolls for 40 dollars. It was worth it to me because I’m just starting out and Pennie’s are my favorite right now. I have a long way to go but that’s fine because it is a stress reliever for me. It my therapy, 😇 I wish I would have started this years and years ago!
It's OK to post, get more opinions, etc.
I just wanted to make sure you had the right tools to work with.
In that case the price was pretty reasonable, as long as the cents were not damaged.
@ERingus.... Nice find. An IHC in the wild is rare. When I was a kid with a paper route, it happened a few times a year, now lucky to get wheat cents in change. Cheers, RickO
@JBK They we’re all in relatively great shape. I love the excitement of the unknown. It makes it so much more exciting for sure.
@ricko It was a perfect piece to add to my crazy collection. I will share the best ones when I’m finished. I’m on vacation at an event with 3,000 people and I’m in the camper with my Pennie’s. Imagine that.
Wheat cents are known for die chips, especially on the reverse on/next to the wheat stocks.
Not much value but fun to identify.