The 1873 Open 3 Indian Head Penny is worth anywhere from $20 in worn, Good condition to over $12,000 for high-grade specimens in Mint State. This particular variety is highly sought after by collectors because of a unique design change that happened halfway through the year 1873.
| Condition / Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) | $20 – $25 |
| Fine (F-12) | $65 – $80 |
| Extremely Fine (XF-40) | $180 – $220 |
| Uncirculated (MS-63) | $650 – $900 |
| Proof (PR-65) | $2,500+ |
Identification of the 1873 Open 3 Indian Head Penny
If you’ve found an old copper coin in a jar or a inherited collection, the first step is knowing exactly what you are holding. Using the best coin identifier app can help beginners quickly spot the difference between common dates and rarities like this one.
The 1873 Indian Head Penny comes in two distinct varieties: the “Closed 3” and the “Open 3.” The difference lies in the spacing of the digit “3” in the date. In the “Open 3” variety, the ends of the numeral 3 are spread apart, leaving a clear gap. This version is generally considered the more common of the two, but it still commands a significant premium over later dates in the series.
To tell them apart, look closely at the central bar of the 3. If the knobs of the number seem to almost touch each other, you have a “Closed 3.” If they are clearly separated, you have the “Open 3.” If your eyes aren’t what they used to be, tools like CoinHix can provide high-resolution zoom features and historical data to help you confirm the variety in seconds.
Market Demand and Scarcity
The 1873 Indian Head Penny was struck during a transitional period for the U.S. Mint. While millions were minted, very few have survived in high grades. Most of these coins saw heavy circulation in the late 19th century, used to buy daily necessities like bread or newspapers.
Because the Indian Head Penny series is a favorite among American collectors, there is always a buyer for an 1873 date. The “Open 3” is essential for anyone trying to complete a “date and variety” set. This constant demand keeps prices stable even during economic fluctuations.
When assessing your coin, remember that color plays a huge role in price. For those looking for the absolute peak of the market, the 1873 Open 3 Indian Head Penny MS-RD price guide shows how coins that retained their original bright red luster can sell for thousands of dollars more than brown ones.
| Color Category | Characteristics | Value Impact |
|---|---|---|
| BN (Brown) | Fully chocolate brown surface | Standard Value |
| RB (Red-Brown) | Mixture of brown and copper-red | Moderate Premium |
| RD (Red) | At least 95% original mint orange-red | Highest Premium |
Condition and Grading Standards
Value is almost entirely dependent on the condition of the coin. Professional numismatists use a 70-point scale to grade coins. For an everyday person, you can estimate the grade by looking at Lady Liberty’s headdress.
In “Good” condition, the word “LIBERTY” on the headband will be worn away completely. As you move into higher grades like “Fine” or “Very Fine,” individual letters of the word will become visible. If you find a coin where all seven letters of “LIBERTY” are sharp and clear, you are likely looking at a coin worth several hundred dollars.
Because grading can be subjective and difficult for beginners, apps like CoinHix use image recognition to compare your coin against thousands of graded examples. This gives you a realistic expectation before you spend money on professional grading services like PCGS or NGC.
Comparison with Other Years
While the 1873 Open 3 is a great find, it is often compared to other “semi-key” dates in the series. For example, the 1898 Indian Head Penny worth and history shows a coin that is much easier to find and therefore less expensive in lower grades.
The 1870s were generally low-mintage years for the Indian Head cent. Compared to pennies from the 1880s or 1890s, an 1873 penny in any condition is a “better” date. If you are lucky enough to find an 1873 “Doubled Die” error, the value can skyrocket even further, sometimes reaching into the five-figure range.
| Year/Variety | Mintage (Approx) | Raw Value (Good Condition) |
|---|---|---|
| 1873 Open 3 | 11.6 Million (Combined) | $20 |
| 1872 | 4 Million | $75 |
| 1877 | 852,500 | $400+ |
Tips for Selling Your 1873 Penny
If you decide to sell your 1873 Open 3 Indian Head Penny, avoid the temptation to clean it. Cleaning a vintage coin with polish or even soap and water can strip away the natural patina and reduce its value by 50% or more. Collectors prefer “original” surfaces, even if they appear dark or dirty.
Instead, place the coin in a protective flip or a small plastic bag to prevent further scratching. Researching recent auction results is the best way to get a “real world” price. Many users turn to CoinHix to track live auction data and find reputable dealers who specialize in 19th-century copper.
Selling to a local coin shop is the fastest way to get cash, but you will likely receive 60-70% of the retail value. For a high-grade 1873 Open 3, selling through a major auction house or a dedicated online marketplace might yield a much higher return.
Frequently Asked Questions
Q: How can I tell the difference between the Open 3 and Closed 3?
A: Look at the numeral 3 in 1873. If the top and bottom loops of the 3 have plenty of space between them and look like they belong to a different font than the other numbers, it’s an Open 3. If the loops are very close together and look like small balls almost touching, it’s a Closed 3.
Q: Is the 1873 Open 3 Penny made of gold?
A: No, it is made of 95% copper and 5% tin and zinc. Some coins may appear yellowish if they have been cleaned or chemically treated, but they are not gold. Its value comes from its age and rarity among collectors.
Q: Where is the mint mark on an 1873 Indian Head Penny?
A: There are no mint marks on 1873 pennies. During this year, all cents were struck at the Philadelphia Mint. Mint marks (like ‘S’ for San Francisco) did not appear on Indian Head Pennies until 1908.
Q: What is the most an 1873 Indian Head Penny has ever sold for?
A: High-grade Proof examples or Mint State coins with exceptional “Red” color have sold for over $15,000 at major auctions. The “Doubled Die” variety of 1873 can also reach these record-breaking level prices.
