You Would Never Guess How Much These Pennies Are Worth

1864 Indian Head Penny With ‘L’ On The Ribbon Front

This Indian Head penny entered production in 1859. But the government had a hard time looking for metal to use in the production of coins as the Civil War raged on. In the end, they ditched the copper-nickel mix for a bronze alloy in 1864. It also introduced an “L” to the war bonnet worn by Lady Liberty.

1864 Indian Head Penny With ‘L’ On The Ribbon Front

1864 Indian Head Penny With ‘L’ On The Ribbon Back

The U.S. Mint made around 5 million of the 1864 Indian Head Penny With ‘L’ On The Ribbon Back coins. That is high, but they mostly entered circulation. It is difficult to find one of these pennies in mint condition. In October 2011, one of those fetched a cool $161,000 at Heritage Auctions in Pittsburgh.

1864 Indian Head Penny With ‘L’ On The Ribbon Front Back