The American Indian head penny was produced from 1859 through 1909. The front of the coin features a Native American wearing a headdress with the word "Liberty" across the headband. The version of the coin minted in 1859 has a reverse side that depicts a laurel wreath with the words "One Cent" in the middle. The following year, the reverse illustration changed to an oak wreath and a shield. These coins are a popular collectible. In order to acquire the best pieces at the best prices, a collector needs to learn the mechanics of the coin grading system.
Instructions
1. Know the language of coin grading. A coin's grade is integral to its value: the higher the grade, the higher the value. It is important you understand the language of the coin grading. The system originated with Dr. William Shelby, who created a classification structure from 0 to 70 that indicates a coin's condition. A coin with a grade of 60 to 70 is considered in "Uncirculated" or "Mint" state and is extremely rare. The worst grade, where you can barely tell you have a coin, is called the "Basal" state. In between the best and the worst are many different levels of condition, from "Almost Uncirculated" down to "Fair. "
2. Understand use the coin grading system. For an Indian head penny, looking at the wear to the word "Liberty" in the headband is one way to determine the grade. In a coin that is graded on the lower end as "Very Good," only some of the letters are readable. In a coin that has the higher grade of "Very Fine," the letters are readable with light and even wear.
3. Get a magnifier. While some grading can be done with the naked eye, it helpful to have a magnifier in order to examine a coin's wear in greater detail. A magnifying glass or loupe with a magnifying power of 10x will let you see the smallest details of the coin.
4. Study coins that have already been graded. Visit an established coin dealer in your area and look at the store's inventory of Indian Head cents to see how they have been graded. Ask the store owner questions about the coins if you are unsure why they received the grades that were given. There is no substitute for looking at a coin in person. The more coins you see of various grades, the easier it will be to grade on your own. If visiting a local coin store isn't an option, go to the library and get coin books that include pictures and grades.
5. Use a service for coin grading. If you are not confident in your own coin grading skills, or if you want to compare the grade you've given a coin to one given by an expert, you can hire a coin grading service. A variety of these services are available to coin dealers and to the general public (see Resources).
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