1864 Indian Head Penny With ‘L’ On The Ribbon Front
The production of the Indian Head penny started in 1859. The government found it hard to find metal for coins during the Civil War. This was the reason it started using a bronze alloy instead of the original copper-nickel mix in 1864. Aside from that, an “L” was introduced to the war bonnet of Lady Liberty.
1864 Indian Head Penny With ‘L’ On The Ribbon Front
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1864 Indian Head Penny With ‘L’ On The Ribbon Back
The US Mint created about 5 million of those coins. Even though this is a pretty high amount, most of them went into circulation as well. It is sporadic to find one in mint condition. In October 2011, Heritage Auctions in Pittsburgh sold an Indian Head penny with the “L” for a whopping $161,000.
1864 Indian Head Penny With ‘L’ On The Ribbon Front Back
