1902 Penny Value (2026 Guide): Errors List & No Mint Mark Worth

The 1902 Indian Head Penny is one of the most accessible coins in this beloved classic series. With a mintage of over 87 million pieces, it gives new collectors an affordable entry point into American numismatic history.

Understanding the 1902 Penny Value starts with condition. Circulated examples in Good condition average around $5.26, while Fine-grade coins reach approximately $18.01. Mint State specimens command significantly more, with average prices near $2,639.57 for red examples.

This guide covers everything you need to evaluate your 1902 penny accurately — including color designations, grading tips, error varieties, and real auction records updated for 2026.

 

1902 Penny Value By Variety

The 1902 Indian Head Penny was minted exclusively at the Philadelphia Mint, which was the only facility authorized to produce cents until 1908. Below is a breakdown of values for each variety, including regular strikes and proof issues.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Indian Head Penny Coin Value (1859-1909)

 

Top 10 Most Valuable 1902 Penny Worth Money

The chart above shows auction records for 1902 Indian Head Pennies from 2005 to the present. These results highlight how dramatically condition affects final value.

The highest sale belongs to a 1902 penny graded MS68 (Mint State 68 — meaning virtually flawless), which sold for $144,000 at Stack’s Bowers in June 2022. This grade is exceptionally rare for Indian Head Pennies — only two examples have ever been certified this high for this date.

MS67 examples also command impressive prices, with two examples selling for $66,000 and $40,800 respectively. More recently, a PCGS MS67 Red example realized $18,600 at Heritage Auctions in January 2024, and an NGC MS66+ Red brought $4,200 at Stack’s Bowers in August 2023.

Even mid-tier mint state grades show real value. A PCGS MS65 Red CAC (Certified Acceptance Corporation-stickered) example sold for $840 at Legend Rare Coin Auctions in March 2023. An MS66 coin has reached $14,950, and even an MS60 specimen brought $4,370 at auction.

Each grade jump can multiply a coin’s value significantly — this pattern is one of the most important things a new collector can learn.

 

History Of The 1902 Penny

The Indian Head Penny series ran from 1859 to 1909, replacing the short-lived Flying Eagle cent, which proved difficult to produce satisfactorily. James B. Longacre, Chief Engraver at the Philadelphia Mint, created the iconic design — and despite the coin’s name, it actually depicts the goddess Liberty wearing a stylized Native American headdress, not a real Native American.

The design was chosen by Mint Director James Ross Snowden, who selected the Indian Head concept and originally paired it with a laurel wreath reverse. That reverse was updated in 1860 to the oak wreath with a shield design still seen on the 1902 issue.

In 1864, a significant change occurred: the composition shifted from 88% copper / 12% nickel to 95% copper with 5% tin and zinc. This is the same composition used on the 1902 penny and all subsequent Indian Head cents through 1909.

By 1902, the United States was recovering from the economic Panic of 1893 and entering a period of strong commercial growth. The rise of coin-operated machines in the late 1800s and early 1900s dramatically increased penny demand — production exceeded 100 million for the first time in 1907. The 1902 mintage of 87.3 million was the third-highest in the entire Indian Head series.

Just seven years after 1902, the Lincoln cent replaced the Indian Head design. Today, 1902 pennies represent a vivid snapshot of Gilded Age America. Numismatic scholar Richard Snow documented many of the key die varieties for this series in his authoritative reference, A Guide Book of Flying Eagle and Indian Head Cents (Whitman Publishing, 2009).

Also Read: 54 Most Valuable Indian Head Penny Worth Money (1859-1909)

 

Is Your 1902 Penny Rare?

Rarity depends on more than just age. Factors like condition, color designation, and errors all play a major role in determining how scarce your specific coin truly is.

The 1902 penny is common in lower grades — but becomes genuinely rare above MS65 Red. Fewer than 20 examples have been certified at the MS67 Red level combined across PCGS and NGC (the two leading third-party grading services). At MS68 Red, only two examples are known for this date.

Want a quick assessment? Use the CoinValueChecker App to check your 1902 penny’s rarity instantly.

 

Key Features Of The 1902 Penny

The 1902 Indian Head Penny features the classic design by James B. Longacre. Understanding its design elements helps with authentication and grading. Here is a closer look at the obverse, reverse, and other specifications.

The Obverse Of The 1902 Penny

The obverse displays a portrait of Lady Liberty facing left, wearing a Native American feathered headdress with the word “LIBERTY” inscribed on the headband. The sharpness of “LIBERTY” on the headband is one of the first things graders examine — on well-worn coins, these letters are often the first detail to disappear.

The date “1902” appears at the bottom, just below the bust, and the inscription “UNITED STATES OF AMERICA” runs around the rim. When grading, collectors also focus closely on the feather details and the softness or sharpness of Liberty’s cheek and hair curls.

The Reverse Of The 1902 Penny

The reverse features an oak wreath open at the top, with a shield sitting above it to symbolize national strength. Inside the wreath, the denomination “ONE CENT” is clearly displayed, and a ribbon at the bottom ties the wreath together.

Three arrows are bound beneath the bow with their points facing right. This oak wreath design was introduced in 1860, replacing the original laurel wreath that only appeared in 1859 — making the 1902 reverse part of the design that defined nearly the entire series.

Other Features Of The 1902 Penny

The coin has a plain edge and measures 19.05 mm in diameter. It weighs 3.11 grams and is composed of 95% copper and 5% tin and zinc.

Also Read: Top 100 Most Valuable Pennies Coin Worth Money List (1959 – Present)

 

1902 Penny Value: Understanding Color Designations (BN, RB, RD)

Color designation is one of the most important — and most overlooked — factors in determining a 1902 penny’s value. Because these coins are made of 95% copper, their color changes over time as the metal reacts with air and moisture.

Grading services like PCGS and NGC assign one of three color codes to uncirculated copper coins. BN (Brown) means the coin has toned to a brown color — the most common outcome after more than 120 years. RB (Red-Brown) means the coin still shows a mix of original reddish luster alongside brown toning. RD (Red) means the coin has retained most or all of its original bright copper color — the rarest and most valuable designation.

The price difference is dramatic. At the MS65 grade, a BN example typically brings $250–$300, an RB commands $400–$500, and a full RD specimen sells for $600–$750. The gap widens even further at higher grades: at MS67, a Red example can command four to five times the value of a Brown coin in the identical numerical grade.

The key takeaway: never clean a coin trying to restore its color. Cleaning destroys natural surfaces and eliminates any chance of receiving an RD or even RB designation, drastically reducing value.

 

1902 Penny Mintage & Survival Data

The 1902 Indian Head Penny had a total business strike mintage of 87,374,704 coins — the third-highest production year in the entire Indian Head series. Despite that enormous output, only an estimated 1,000 examples survive today in truly collectible condition.

This translates to a survival rate of just 0.0011%. The vast majority of 1902 pennies were lost to heavy circulation, accidental damage, or melting over more than a century.

In addition to regular strikes, the Philadelphia Mint produced 2,018 proof coins in 1902, each made with specially polished dies and carefully selected planchets for collectors. The exact survival count for proof and cameo examples remains uncertain, but high-grade proofs are extremely scarce.

Also Read: Top 100 Most Valuable Wheat Pennies Coin Worth Money (1909 – 1958)

 

The Easy Way to Know Your 1902 Penny Value

Determining your 1902 penny’s value can feel overwhelming. Factors like condition, color designation, and errors all affect the final price.

The good news is you don’t need to be an expert. Start by examining the coin’s surface for wear and checking for any visible errors. Compare your findings with grading standards to estimate its condition.

Want a faster and more accurate result? Try the CoinValueChecker App to get an instant value estimate for your 1902 penny.

 

1902 Penny Value Guides

• 1902 No Mint Mark Penny: The standard business strike from Philadelphia with a mintage of 87,374,704.
• 1902 Proof Penny: A limited collector edition with only 2,018 pieces struck using polished dies and hand-selected planchets.
• 1902 CAM (Cameo) Penny: A proof coin with frosted device designs against deeply mirrored fields — CAM stands for Cameo, a designation given to proofs struck early in a die’s life cycle.

These three varieties offer different entry points for collectors. Business strikes are the most accessible, while proof and cameo examples appeal to those seeking higher quality and rarity.

 

1902 No Mint Mark Penny Value

The 1902 No Mint Mark Penny was struck exclusively at the Philadelphia Mint. Its mintage of over 87 million makes it one of the most produced years in the Indian Head series.

Despite its high production numbers, top-grade survivors are exceptionally scarce. Most circulated heavily, and only a tiny fraction retained their original red luster. Today, just two examples have been certified at the MS68 grade — the finest known for this date.

The current auction record stands at $144,000, achieved at Stack’s Bowers in June 2022 for an MS68 Red specimen. It remains one of only seven Indian Head cents ever graded this high across all years.

More recently, a January 2024 Heritage Auctions sale of a PCGS MS67 Red realized $18,600, and an NGC MS66+ Red brought $4,200 at Stack’s Bowers in August 2023 — confirming steady appreciation in the high-grade market.

The chart below shows recent auction results across different platforms and grades.

For a closer look at monthly sales activity over the past year, see the market trends below.

 

1902 Proof Penny Value

Proof coins were never meant for circulation. The Philadelphia Mint struck just 2,018 proof pennies in 1902, all intended for collectors from the start.

These coins were made using polished dies and carefully prepared planchets, resulting in sharper detail and mirror-like fields that set them apart from regular strikes. Collectors prize specimens that retain their original Red color, as most have toned to Brown over more than a century.

Values for Brown proof pennies start at around $160 for a PR62 example. Red-Brown examples range from $160 at PR61 up to approximately $5,500 at PR67+. For full Red specimens, values begin around $325 for PR63, climbing to about $40,000 each for the three known examples graded PR68.

The highest auction price for a 1902 Proof Penny reached $39,100 at Bowers & Merena in April 2008 for a PR68 Red example. Gems at this level are rare, with only a handful ever certified.

The chart below tracks auction results by platform, price, and grade.

Monthly market activity over the past year is shown in the following chart.

 

1902 CAM Penny Value

Cameo proof coins are a special subset of the 2,018 proofs struck in 1902. CAM (Cameo) designation is awarded when the coin’s raised design elements appear frosted white against deeply mirror-like fields — a contrast that makes the design pop dramatically.

This frosted effect occurs naturally when fresh, highly polished dies are first used — the raised parts of the design retain a different surface texture than the fields, creating the contrast. As the dies wear from repeated use, the frosted effect fades. This is why not all proof coins receive the CAM designation, and why cameos from this era are difficult to find in any grade.

CAM-designated 1902 pennies start at approximately $1,350 for examples graded PR64. The finest examples known are graded PR67 and valued at approximately $26,000. The current auction record stands at $31,200 for a PR67 example sold at Stack’s Bowers in August 2019.

Below is a summary of auction results by platform, grade, and realized price.

The following chart displays monthly sales trends over the past twelve months.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Rare 1902 Penny Error List

Error coins from 1902 are popular among collectors. The high mintage that year contributed to significant die wear and striking anomalies. Below are the most notable errors and varieties to look for on your 1902 penny.

1902 Penny Die Gouge FS-401 (Snow-4)

This variety is considered the most popular and desirable error of all 1900s Indian Head cents, and is catalogued as both FS-401 in the Fivas-Stanton reference and Snow-4 in Richard Snow’s Guide Book of Flying Eagle and Indian Head Cents. It features a prominent diagonal gouge running across Lady Liberty’s lower eyelid.

A scratch or defect on the die surface created a raised line on every coin struck from that die. The gouge is easy to identify even without magnification — look for a thick diagonal line crossing the bottom of Liberty’s eye and ending near the tip of her eyebrow. Indianvarieties.com confirms this is extraordinary in strength and can be found across all grades.

This error appears across all three color designations — Brown (BN), Red-Brown (RB), and Red (RD). Certified examples exist from circulated grades up to gem mint state, with some reaching MS65. An AU58 Brown example catalogued as Snow-4 sold for $225 on eBay in May 2021, and an MS63 Brown die gouge example sold for $240 in 2021. The highest recorded auction sale for a graded example was $602 for an MS64 Red-Brown at Stack’s Bowers in March 2015.

 

1902 Penny Doubled Die Obverse (DDO) FS-101

The Doubled Die Obverse (DDO) is one of the most visually dramatic errors for this date. On a DDO, the hub was pressed into the working die more than once at a slightly different angle during production — this creates visible doubling on design elements.

On the 1902 FS-101 variety, the doubling is most evident on “LIBERTY” in the headdress and on Liberty’s facial features. This variety is rated R4 on the rarity scale, meaning an estimated 76–200 examples are known. Values for this error range from $1,800–$2,500 in MS65 Red — making it the most valuable die variety for this date based on visual drama and collector demand.

1902 Penny Repunched Date FS-301 (1902/902)

The 1902/902 Repunched Date (RPD) shows evidence of the date being punched into the die more than once, with remnants of an earlier punch visible — specifically, the digit “1” appears to be partially missing, giving a “902” appearance beneath the final date. This error is rated R5 (approximately 31–75 known examples).

Look for shadows or ghost images of earlier punches below the date numerals, especially visible on the bottom curves of the digits. Values for this variety run $700–$1,000 in MS63–MS64 Red, making it a very collectible find.

1902 Penny Off-Center Strike

An off-center strike occurs when the blank planchet was not properly centered between the dies at the moment of striking. Part of the design is missing, and a blank crescent of metal appears on one side of the coin.

Value depends entirely on how far off-center the coin is and whether the date is still visible. A 15% off-center certified MS64 Brown example has been listed for $450, while a 20% off-center example of the same grade reached $725. Major off-center strikes of 75% or more — where the date is still readable — can reach $1,000–$2,500.

1902 Penny Double-Struck Error

A double-struck coin received two full impressions from the dies, often at different rotations, creating two overlapping design images. These are among the most visually striking errors in any collection.

Values for 1902 double-struck examples run $750–$3,000 or more depending on the displacement between the two strikes and the coin’s overall grade. A double-struck 1902 Indian Cent in collar sold for $74 at VG8 in 2010. Examples with dramatic misalignment between the two strikes command the highest premiums.

1902 Penny Clipped Planchet Error

A clipped planchet error occurs when the coin blank was punched incorrectly from the metal strip, resulting in a “bite” taken out of one edge of the coin. Genuine clips show a distinctive “Blakesley Effect” — thinning of design elements directly opposite the clip — which distinguishes them from damage.

Values range from $25–$150 depending on the size of the clip and the coin’s overall grade and color.

 

Where To Sell Your 1902 Penny?

Ready to sell your 1902 penny? Choosing the right platform matters. We have compiled a list of the best online coin selling platforms, including their pros and cons, to help you get the best deal for your coin.

Check out now: Best Places To Sell Coins Online (Pros & Cons)  

 

1902 Penny Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

The market for 1902 Indian Head Pennies has shown steady appreciation over the past several years. Since 2019, MS65 Red examples have increased approximately 20% in value, while MS67 Red examples have appreciated close to 35%.

The largest value jumps occur between MS65 and MS66, and again between MS66 and MS67 — with prices often doubling or tripling at each step. Analysts expect modest annual appreciation of 5–7% for premium-quality examples (MS65 Red and above) over the next several years.

 

FAQ About The 1902 Penny Value

1. How much is a 1902 Indian Head Penny worth?

The value depends primarily on condition and color designation. Circulated examples in Good condition average around $5.26, while Fine-grade coins reach approximately $18.01. Mint State Red specimens are significantly more valuable, averaging near $2,639.57. The all-time auction record for this date is $144,000 for an MS68 Red example sold at Stack’s Bowers in June 2022.

2. Is a 1902 penny rare?

Not in lower grades. With a mintage of over 87 million coins, the 1902 penny is one of the most common dates in the Indian Head series. However, high-grade survivors are genuinely rare — fewer than 20 examples have ever been certified at MS67 Red, and only two are known at MS68 Red. Only an estimated 1,000 examples survive in truly collectible condition today.

3. What errors should I look for on a 1902 penny?

The most notable error is the Die Gouge FS-401 (also called Snow-4), which shows a raised diagonal line crossing Lady Liberty’s lower eyelid — visible without magnification. Other valuable errors include the Doubled Die Obverse FS-101 (look for doubling on “LIBERTY”), the 1902/902 Repunched Date FS-301 (ghosting beneath the date digits), off-center strikes, and double-struck errors.

4. What does the color designation BN, RB, or RD mean on a 1902 penny?

These abbreviations describe the surface color of uncirculated copper coins. BN (Brown) means the coin has fully toned to brown over time — the most common. RB (Red-Brown) means the coin still shows a mix of original reddish luster and brown toning. RD (Red) means the coin has retained most of its original bright copper color — the rarest and most valuable designation. At MS65, a full RD example is worth roughly double a BN example in the same grade.

5. What are 1902 proof pennies, and how are they different from regular pennies?

Proof pennies were never intended for circulation. The Philadelphia Mint struck only 2,018 proof 1902 pennies using specially polished dies and hand-selected planchets.

The result is a coin with mirror-like fields and sharper detail than regular strikes. Proof pennies are much rarer and command much higher prices — Red proofs in PR68 are valued at approximately $40,000 each.

6. What is a 1902 Cameo penny and why is it more valuable?

A Cameo (CAM) proof has frosted raised design elements against deeply mirror-like fields, creating a striking two-tone contrast. This effect only occurs on coins struck from fresh, unworn dies — so not all proof coins earn the CAM designation.

A 1902 CAM proof starts at around $1,350 for PR64, compared to roughly $325 for a standard Red proof at the same grade. The finest known PR67 Cameo examples are valued at approximately $26,000.

7. How do I grade my 1902 Indian Head Penny at home?

Start by checking the highest design points: the feather tips, Liberty’s cheek, and the word “LIBERTY” on the headband. If all feathers are sharp and “LIBERTY” is fully readable, the coin is at least Very Fine.

If the cheek shows no wear at all under a light source and the surfaces show original luster, it may be uncirculated. Any sign of rubbing under a rotating light means wear is present. For a formal grade and value, submit to PCGS or NGC.

8. Has the 1902 penny market been increasing in value in recent years?

Yes, noticeably in the higher grades. Since 2019, MS65 Red examples have gained roughly 20% in value and MS67 Red examples approximately 35%. The steady appreciation reflects growing collector demand for premium Indian Head cents.

Analysts expect continued gains of 5–7% annually for gem examples at MS65 Red and above, driven by the decreasing supply of problem-free, original-luster survivors.

9. Is the 1902 Indian Head Penny a key date in the series?

No. The 1902 is not considered a key date. Genuine key dates in the Indian Head series include the 1877 (mintage of only 852,500) and the 1909-S (only 309,000 struck). The 1902 is a high-mintage, common-date coin in lower grades — but it becomes a condition rarity above MS65 Red, where the surviving population is extremely small.

10. Should I clean my 1902 penny before selling it?

Absolutely not. Cleaning a coin — even gently — permanently destroys its original surfaces and removes any chance of receiving an RD or RB color designation from a grading service. A cleaned coin is typically worth a fraction of an original, untouched example.

Even coins that look dirty or dark are better left alone. If you want to improve presentation, handle the coin only by its edges and store it in an inert coin holder away from humidity and fluctuating temperatures.