1898 Indian Head Penny obverse and reverse showing Liberty portrait with feathered headdress and ONE CENT wreath reverse

The 1898 Indian Head Penny Value Guide

An MS-67 Red example sold for $26,450 at Heritage Auctions — yet most worn 1898 cents are worth just a few dollars. The FS-402 Misplaced Date variety and top-grade gems are where the real value hides. Find out exactly where yours falls.

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$26,450 Auction record (MS-67 RD, Heritage 2011)
49.8M Business strikes minted (Philadelphia)
1,795 Proof specimens struck for collectors
48+ Cataloged die varieties (RPD & MPD)

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Is Your 1898 Penny an FS-402 Misplaced Date?

The FS-402 (Snow-5) Misplaced Date is the most valuable and most searched variety of the 1898 Indian Head Cent. Use this checker to identify it in four steps.

Comparison of normal 1898 Indian Head Penny date area vs. FS-402 misplaced date variety with extra digit visible in the denticles below the 9

🪙 Common 1898 Penny — What it Looks Like

The denticles directly below "1898" are clean, uniform raised teeth. No extra digit tops, no ghost impressions in the border. The date looks crisp and singular.

— vs —

🏆 FS-402 Misplaced Date — What Makes It Special

The top of an "8" or "9" is clearly visible punching up through the denticles directly below the primary date digits. The extra impression appears between the teeth of the border, like a ghost digit hiding just below the date.

4-Point FS-402 Checklist

1898 Indian Head Penny Value Chart at a Glance

The table below covers all major strike types and varieties across four condition tiers. Values reflect recent auction results and current PCGS/NGC price guide data. For a deeper step-by-step in-depth 1898 Indian Head Penny identification walkthrough, the linked guide covers authentication, color designation, and grading diagnostics in full detail.

Variety / Strike Worn (G–F) Circulated (VF–AU) Uncirculated (MS-62–64) Gem (MS-65+)
Regular Strike (BN) $2 – $16 $18 – $52 $70 – $143 $245 – $459
Regular Strike (RB) $114 – $198 $362 – $598
Regular Strike (RD) $170 – $313 $850 – $2,118+
⭐ FS-402 Misplaced Date (Snow-5) $75 – $150 $150 – $350 $400 – $900 $1,000 – $2,000+
FS-401 Misplaced Date (Snow-12) $30 – $75 $75 – $200 $200 – $500 $500 – $1,200+
Snow-14 Wide RPD $15 – $40 $40 – $100 $100 – $250 $250 – $600+
🔴 Snow-24 Doubled Die Reverse $25 – $60 $60 – $150 $150 – $400 $400 – $900+
Proof (BN–RB) $220 – $500 $500 – $1,100 $1,300 – $6,000+

⭐ = Signature variety (FS-402). 🔴 = Rarest die variety (Snow-24 DDR, only known doubled die in the 1893–1899 range). Values reflect recent market data; gem RD and Proof CAM examples may exceed ranges shown. Consult PCGS CoinFacts for current population data.

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The Valuable 1898 Indian Head Penny Errors — Complete Guide

The 1898 Indian Head Cent has more than 48 cataloged die varieties, but only a handful command real market premiums. Below are the six most significant — each one individually documented, with identification tips and value context drawn from PCGS CoinFacts, CONECA, and Heritage Auctions records.

FS-402 (Snow-5) Misplaced Date

MOST FAMOUS
$75 – $2,000+ FS-402 Snow-5 misplaced date on 1898 Indian Head Penny — extra digit visible in denticles below the 9

The FS-402 (Snow-5) Misplaced Date is the crown jewel of 1898 Indian Head Cent varieties and is listed among CONECA's Top 100 Indian Cent Die Varieties. A mint worker accidentally pressed a date punch into the working die at the wrong position, leaving the top of a "9" or "8" trapped among the denticles directly below the primary date.

To identify it, examine the denticles immediately below the "9" of the date under a 10× loupe. A curved arc — the top of a numeral — protrudes from between the raised border teeth. This is distinct from the normal uniform denticle pattern and cannot be mistaken for a die crack or planchet flaw.

Circulated examples bring substantial premiums over common 1898 cents. A gem MS-66 RD example sold for $1,998 at Heritage Auctions in January 2015, confirming strong collector demand for this variety in top condition. Certified examples with the variety attribution on the slab label command meaningfully higher prices than raw coins.

How to spot it
Under a 10× loupe, look for the top curve of an extra "9" or "8" digit rising up from the denticles directly below the primary "9" of the date — a curved arc unlike the normal straight denticle teeth.
Mint Mark
No mint mark — Philadelphia only. All 1898 cents, including FS-402 examples, were struck at Philadelphia.
Notable
Listed as MPD-001 by CONECA and Snow-5 by Rick Snow's reference; included in the CONECA Top 100 Indian Cent Die Varieties. An MS-66 RD example realized $1,998 at Heritage Auctions (January 2015).

FS-401 (Snow-12) Misplaced Date

MOST COLLECTIBLE
$30 – $1,200+ FS-401 Snow-12 misplaced date on 1898 Indian Head Penny — two extra digit tops visible in denticles between the 9 and final 8

The FS-401 (Snow-12, MPD-003) is the second major Fivaz-Stanton attributed Misplaced Date variety of the 1898 Indian Head Cent. Unlike the FS-402 which shows a single digit below the "9," the FS-401 exhibits the tops of two misplaced digits — one located between the primary "9" and the final "8," and another below the final "8" itself.

Under loupe magnification, look for two distinct curved arc impressions in the denticles — one between the last two date digits and a second impression visible at the bottom of the final "8." These are the telltale signs of a double application of the date punch at an incorrect die location, both impressions surviving the hubbing process.

This variety carries a solid collector premium, particularly in grades VF-30 and above where the misplaced digit tops remain clearly distinguishable from normal denticle shapes. PCGS and NGC both attribute this variety on the slab label as MPD, adding significant liquidity at auction.

How to spot it
Check the denticles between the "9" and final "8" and also below the final "8." Two separate curved arc impressions — tops of misplaced digits — should be visible under 10× magnification.
Mint Mark
No mint mark — Philadelphia only. San Francisco did not strike Indian Head Cents until 1908.
Notable
Cross-referenced as MPD-003 (CONECA) and FND-003 (Finkelstein). Attributed by M. Bruggeman. Slab-attributed examples consistently sell above unattributed raw coins by a meaningful margin at major auction houses.

Snow-14 Wide Repunched Date (RPD-011)

BEST REPUNCHED DATE
$15 – $600+ Snow-14 Wide Repunched Date on 1898 Indian Head Penny showing wide east repunching of the 898 digits

The Snow-14 (RPD-011, Variety 19) is considered by specialists the finest repunched date variety of the 1898 Indian Head Cent. Indian Cent specialist reference works single it out as "the best repunched date based on the wide repunching on the 898" — meaning all three visible digits of "898" show secondary impressions shifted markedly to the east of the primary digits.

Identifying the Snow-14 requires looking at each digit of "898" — not just one — for ghost-like shadow impressions shifted to the east (right side) of the primary numeral. On the finest examples, the secondary impressions are visible to the naked eye; on worn specimens a 5× loupe brings them into clarity. A die crack variant (Reverse T.2) also shows rim breaks between 6:00 and 8:00 on the reverse.

Repunched dates are caused when the date punch is applied twice to the working die, with the second impression slightly offset from the first. The Snow-14's unusually wide offset across three digits — rather than just one — makes it distinctly more dramatic than the dozens of minor RPD varieties cataloged for this year.

How to spot it
Examine all three "898" digits under 5×–10× magnification. Look for secondary ghost impressions shifted distinctly to the east (right) of each primary digit — a wide, clear offset across all three numerals.
Mint Mark
No mint mark — Philadelphia Mint only. Some reverse die states show rim breaks at 6:00–8:00.
Notable
Cross-referenced as Snow-14 and RPD-011 in specialist literature. Designated Variety 19 in the Snow reference. Highlighted in indiancentvarieties.com as the top RPD for the year due to the unusually wide digit offset.

Snow-24 Doubled Die Reverse (DDR-001)

RAREST DIE VARIETY
$25 – $900+ Snow-24 Doubled Die Reverse on 1898 Indian Head Penny — Class II doubling visible on left wreath leaf veins and edges

The Snow-24 (DDR-001) stands alone as the only confirmed doubled die — on either the obverse or reverse — for the Indian Head Cent during the entire span from 1893 through 1899. This makes it a genuine numismatic milestone for the series. The doubling is Class II Distorted Hub Doubling, which manifests as a spread toward the center rather than a mechanical offset.

The diagnostic feature appears on the reverse: look for a spread and doubling of the veins and leaf edges on the left side of the wreath, particularly on the bottom left leaves. The distortion is subtle compared to a Class I mechanical doubled die, but is clearly visible under 10× loupe magnification and is unlike any die deterioration that affects this date normally. It is also paired with a repunched date (RPD-019) on the obverse, giving doubly attributable coins added collector interest.

Because only one doubled die is known for seven years of production, even circulated examples attract a premium. Collectors of die varieties and Indian Head specialists both seek this coin, which keeps demand consistent across grade ranges.

How to spot it
Examine the left side of the wreath on the reverse under 10× loupe. Look for a spread or blurring of the leaf veins and bottom-left leaf edges toward the center — the hallmark of Class II Distorted Hub Doubling.
Mint Mark
No mint mark — Philadelphia only. Also paired with RPD-019 on the obverse, offering dual attribution.
Notable
Cross-referenced as Snow-24 and DDR-001. Attributed by Bill Walter. Described as the only confirmed doubled die for Indian cents between 1893 and 1899 — a unique diagnostic for the entire mid-series span.

Off-Center Strike Error

MOST DRAMATIC ERROR
$50 – $750+ Off-center strike error on 1898 Indian Head Penny — design dramatically shifted with date still visible and large blank planchet area

Off-center strikes occur when the planchet is not properly centered between the dies at the moment of the strike. On an 1898 Indian Head Cent, this produces a coin where Liberty's portrait and the date are shifted to one side, leaving a visible crescent or wedge of unstruck, flat planchet metal on the opposite side. The date must remain visible for the coin to be fully attributable and most collectible.

Minor off-center strikes of 5–15% show modest shifting and typically bring $50–$180 depending on strike quality and color. More dramatic strikes in the 20–50% off-center range — still with the date visible — are considerably scarcer and command $200–$750 or more. An example reportedly struck 35% off-center and graded MS-62 RB reportedly sold for approximately $750, demonstrating strong demand for dramatic, mint-state off-center errors.

The appeal of off-center strikes is entirely visual — the more dramatic the misalignment while still retaining the date, the more collectors compete for the piece. Mint State examples in any color designation add a premium layer on top of the error premium itself.

How to spot it
Look for a flat, featureless crescent of blank metal on one edge of the coin. The design — Liberty's portrait, date, lettering — will be pushed toward the opposite side. Measure the blank area as a percentage of the coin's diameter.
Mint Mark
No mint mark — Philadelphia only. Error occurs at strike, not related to the die variety system.
Notable
Value scales sharply with percentage off-center. Coins struck more than 50% off-center without a visible date lose most collector premium. An MS-62 RB example at approximately 35% off-center reportedly brought around $750 based on market data.

Die Cud & Major Die Crack Errors

BEST KEPT SECRET
$49 – $300+ Die cud and major die crack error on 1898 Indian Head Penny — raised smooth blob at rim edge showing die chip, or raised crack line across design

By 1898, the Philadelphia Mint was striking large volumes of coinage with heavily used dies, and both die cracks and die cuds appear on the 1898 Indian Head Cent with some regularity. A die crack is a raised line of metal on the coin's surface caused by a fracture in the working die. A die cud — far rarer and more dramatic — forms when a piece of the die breaks away entirely, leaving a smooth, raised blob of metal at or near the rim that obliterates part of the design.

Die cracks that affect only the fields or secondary design elements carry a modest premium of $40–$100 over the base coin value. Major cracks crossing Liberty's portrait or spanning significant areas are scarcer and bring $100–$150 or more depending on size and visual impact. Cuds, where a segment of rim and adjacent design is replaced by a blank raised platform, command $150 and upward — the more complete and dramatic the cud, the higher the premium.

These errors appeal to a dedicated specialist market focused on die progression studies. Market listings have shown 1898 examples with prominent die cracks offered at $49.99 as a floor, with the most dramatic cuds — particularly those obliterating letters or portrait details — attracting competitive bidding at Heritage and eBay.

How to spot it
A die crack appears as a thin raised ridge or line running across the coin's surface. A cud is a smooth, raised blob — not a depression — located at or near the rim, where part of the normal design has been replaced by featureless raised metal.
Mint Mark
No mint mark — Philadelphia only. Die cracks and cuds are die-specific and do not occur on every coin struck by that die.
Notable
A CUD-001 variety (Snow N/A, attributed by Mike Bruggeman) is cataloged in the Indian Varieties database. Market data shows 1898 examples with notable die cracks listed at $49.99 as entry-level; dramatic cuds at rim bring $150+ based on current market listings.

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1898 Indian Head Penny Mintage & Survival Data

Group of 1898 Indian Head Pennies in various grades from worn to gem, or historical Philadelphia Mint photograph from the 1890s

All 1898 Indian Head Cents were struck exclusively at the Philadelphia Mint. No branch mint produced this date, and no mint mark was used. The large business-strike mintage makes worn and circulated examples easy to find; gem Mint State survivors — especially in Red — are conditionally rare despite the high original mintage.

Strike Type Mint Mintage Survival Estimate
Business Strike Philadelphia (no mark) 49,821,284 Abundant in low grades; conditionally scarce MS-65+
Proof Philadelphia (no mark) 1,795 Scarce; gem PR-65+ more available than most 1890s proofs
Total 49,823,079
Composition Specs: 95% Copper, 5% Tin and Zinc (Bronze). Weight: 3.11 grams. Diameter: 19 mm. Edge: Plain. Designer: James Barton Longacre (Indian Head series, 1859–1909). Struck exclusively at Philadelphia Mint.

Note: The 1898 proof mintage of 1,795 is the lowest since the 1877 key date, yet specialists note these proofs are more available in gem condition (PR-65+) than many other 1890s dates, suggesting exceptional production quality in 1898 led to a higher survival rate among pristine examples.

How to Grade Your 1898 Indian Head Penny

Grading is the single biggest factor in your coin's value. The 1898 Indian Head Cent rewards careful examination of these specific high points, because that's where wear appears first and most dramatically.

Grading strip of four 1898 Indian Head Pennies in Good, Very Fine, About Uncirculated, and Gem Mint State conditions for comparison
Worn — Good to Fine
$2 – $16
Liberty's portrait is flat with little detail. "LIBERTY" on the headband is partially or fully missing. Feathers in the headdress lack individual definition. The date is readable. Design outlines are complete but shallow.
Circulated — VF to AU
$18 – $52
All letters in "LIBERTY" are bold and readable in VF. Feather tips separate and the ribbon knot shows. At AU, only slight friction touches the cheek and diamond pattern of the headdress; partial mint luster remains in protected areas.
Uncirculated — MS-62 to MS-64
$70 – $313
No wear — full mint luster. Bag marks and contact abrasions visible at lower MS levels. Color designation matters here: BN (brown) at the low end, RB (red-brown) adds premium, RD (red, 95%+ original copper color) commands the highest prices.
Gem — MS-65 and Above
$245 – $26,450
Only very light marks visible under magnification. At MS-65 RD, full original copper-red color and sharp strike. MS-67 RD — the finest known — is conditionally rare. The auction record of $26,450 was set by an MS-67 RD at Heritage in 2011.
Pro Tip — Color & Strike for 1898 Indian Cents: The bronze alloy of 1898 cents is prone to toning over time. Original red (RD) is preserved only in coins that escaped circulation and oxidation entirely — often in original mint-issued paper rolls or carefully stored collections. Look for a warm, uniform copper-orange color without streaks of brown or spotting. Artificially brightened coins often show uneven "fire engine red" color or a flat, dull sheen — a sign of chemical dipping that destroys originality and value. Strike quality on most 1898 cents is good, but always check the diamond pattern in the headdress headband and the shield details in the reverse wreath for any softness.

🔍 CoinKnow can help you match your coin's surface details against graded reference images to pinpoint the right condition tier — a coin identifier and value app.

Where to Sell Your Valuable 1898 Indian Head Penny

The right venue depends on your coin's grade and variety. Gem Red examples and certified varieties deserve the specialized collector market; common circulated cents sell fine locally.

🏛️

Heritage Auctions

Best for gem Mint State (MS-65+), top-color RD examples, and certified varieties like FS-402 or Snow-24 DDR. Heritage set the $26,450 auction record for this date. Their Indian cent specialist audience ensures maximum competitive bidding. Expect 15–20% buyer's premium; Heritage earns its commission on coins this caliber.

🛒

eBay / Online Marketplaces

Circulated examples in VF–AU and lower-grade Mint State coins sell consistently on eBay. Check recently sold prices for 1898 Indian Head Penny listings to see what the market is actually paying — not just asking price. Certified PCGS/NGC slabs bring 20–40% more than raw coins for the same grade on eBay.

🏪

Local Coin Shop

Quick and convenient for worn or low-grade circulated examples worth under $25. Expect 40–60% of retail value — dealers need margin to resell. Shops are ideal if you have a mixed lot of Indian Head cents and want same-day payment without shipping risk.

💬

Reddit & Collector Forums

r/Coins4Sale and r/IndianCents (and similar forums) connect you directly with knowledgeable collectors willing to pay fair market value. Good for mid-grade circulated coins ($10–$50 range) where dealer margins hurt but Heritage consignment minimums make no sense. Post clear photos and note any variety attributions.

💡 Get It Graded First — When It's Worth It: If your 1898 Indian Head Penny shows original red color, grades About Uncirculated or better, or you suspect the FS-402 or Snow-24 variety, professional grading by PCGS or NGC is a smart investment. Grading fees of $25–$50 per coin can unlock significantly higher sale prices at auction. A raw MS-64 RD might sell for $170–$200 on eBay; the same coin in a PCGS slab regularly brings $250–$300+ with full color verification. For certified varieties, the slab attribution label is essential to maximum market value.

Frequently Asked Questions — 1898 Indian Head Penny Value

How much is an 1898 Indian Head Penny worth?
A heavily worn 1898 Indian Head Penny in Good-4 condition is worth roughly $2–$7. Circulated examples in Very Fine grade bring $15–$25. Uncirculated coins start around $60–$110 in MS-62 Brown and rise steeply with color and grade. A gem MS-66 Red specimen can reach $400–$850, and the auction record for the date is $26,450 for an MS-67 Red example sold at Heritage Auctions in October 2011.
What makes the 1898 Indian Head Penny's FS-402 variety special?
The FS-402 (Snow-5) Misplaced Date is the most prized variety of the 1898 Indian Head Cent. A misplaced digit — the top of an 8 or 9 — is visible punched into the denticles directly below the primary date. This happened when a mint worker pressed a date punch into the die in the wrong location. The variety is listed in CONECA's Top 100 Indian Cent Die Varieties. Circulated examples fetch around $75–$150, while gem Red specimens have sold for nearly $2,000.
Did the Philadelphia Mint produce any proof 1898 Indian Head Pennies?
Yes. Philadelphia struck 1,795 proof 1898 Indian Head Cents. These are distinct from business strikes: they have mirror-like fields, sharply squared rims, and frosted devices. Many display Cameo or Deep Cameo contrast. Proof examples in PR-63 Brown bring around $285–$325, while a PR-67 Cameo specimen sold for $36,000 at Stack's Bowers Galleries in August 2019, making it the highest reliably documented sale for any 1898 cent.
Does the 1898 Indian Head Penny have a mint mark?
No. All 1898 Indian Head Cents — both business strikes and proofs — were produced exclusively at the Philadelphia Mint. Philadelphia did not use mint marks during this era. San Francisco did not begin striking Indian Head Cents until 1908. If you see what looks like a mint mark on an 1898 cent, the coin may be altered or counterfeit and should be submitted to PCGS or NGC for authentication.
What is the mintage of the 1898 Indian Head Penny?
The Philadelphia Mint produced 49,821,284 business-strike 1898 Indian Head Cents. An additional 1,795 were struck as proofs for collectors. The large business-strike mintage makes the 1898 a common date in worn and circulated grades, though gem Mint State examples — especially those retaining full original red color — are conditionally scarce and command strong premiums at auction.
What is the FS-401 (Snow-12) variety on the 1898 Indian Head Penny?
The FS-401 (Snow-12) is a Misplaced Date variety showing tops of two misplaced digits in the denticles between the primary 9 and the final 8 of the date, as well as below the final 8. Like the FS-402, this was caused by a mint worker accidentally pressing date punches into the die at the wrong location. Circulated examples bring modest premiums above normal, while higher-grade certified specimens command significantly more.
How do I tell if my 1898 Indian Head Penny is Uncirculated?
Rotate the coin slowly under a single light source and watch for unbroken luster flowing across the surfaces. Key high points to check are Liberty's cheek below the eye, the hair curl above the date, and the knot in the ribbon of the headdress. Any flat spot or change in reflectivity on these points indicates friction or wear. On copper coins, wear often appears as a brightened, smoothed area contrasting with the surrounding satiny luster.
What does the color designation (BN, RB, RD) mean for my 1898 Indian Head Penny?
Color designation applies only to Mint State and Proof examples. BN (Brown) means less than 15% original red copper color remains. RB (Red-Brown) means 15–95% red surfaces. RD (Red) means 95% or more of the original copper-red color is intact. Red examples command the highest premiums — an MS-65 RD is worth roughly twice an MS-65 RB and four times an MS-65 BN for the 1898 date.
What is the Snow-24 Doubled Die Reverse on the 1898 Indian Head Penny?
The Snow-24 (DDR-001) Doubled Die Reverse is the only confirmed doubled die on an Indian Head Cent between 1893 and 1899. The doubling — Class II Distorted Hub Doubling — shows as a spread toward the center on the veins and leaves on the left side of the wreath, also visible on the bottom left leaves. It is paired with a repunched date (RPD-019). This variety is scarce and commands a premium over regular 1898 cents in all grades.
Is it worth getting my 1898 Indian Head Penny graded by PCGS or NGC?
For circulated examples worth under $20, certification fees typically exceed the coin's value — skip grading. For About Uncirculated or Mint State examples, especially those retaining original red or red-brown color, grading is strongly recommended. Certified coins sell for meaningfully more than raw (unslabbed) coins. If you believe you have the FS-402 or Snow-24 variety, variety attribution on the slab label adds additional collector premium.

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