Indian penny value by USA Coin BookĬopper-nickel laurel wreath reverse without shieldĬopper-nickel penny with a oak wreath and shield It was changed in 1865, and the new variation was lighter and made of 95% copper. Longacre designed the coin that initially contained 88% copper and 12% nickel.
Therefore, the Indian head penny appeared as an ideal solution in 1859. The first attempt was Flying eagle penny, well known for numerous design problems. In the 1850s, the US Mint decided to reduce the penny size and composition due to copper price fluctuations. Since the US government didn’t allow any other metal except silver and gold as legal tender, it was impossible to use this coin for solving government payments, including taxes. The Indian head penny was practically the first penny minted after large cents.