1864 Bronze With L Indian Head Penny Value: What Is It Worth in 2026?
Getting this graded by PCGS or NGC before selling usually pays off. Authentication matters: the 1877, 1909-S, and 1864-L are among the most faked cents in the hobby.
Value by condition
| Good (G-4, heavily worn) | $73 |
| Very Good (VG-8) | $103 |
| Fine (F-12) | $194 |
| Very Fine (VF-20) | $269 |
| Extremely Fine (XF-40) | $376 |
| About Uncirculated (AU-50) | $468 |
| Mint State (MS-63, uncirculated) | $721 |
The famous 1864-L: designer James Longacre's tiny initial L sits on the ribbon behind the neck. A key variety in every grade — and heavily counterfeited by adding an L to a plain coin. Under magnification, the genuine L is crisp and correctly placed.
See the full page for this coin (mintage, how to identify it, where to sell)The tiny letter that multiplies the value
In 1864 the Mint switched the Indian Head cent from a pale copper-nickel alloy to bronze, and partway through the year, designer James Barton Longacre's initial — a small letter L — was added to the ribbon of the headdress, behind the neck. That single letter creates one of the great value gaps in the series: a bronze 1864 with no L is a $10-ish coin in worn condition; the 1864-L brings several times that, and much more in better grades.
Check the coin under magnification: the L sits on the lowest ribbon of the headdress, tilted, small but crisp. Because the premium is large, added-letter fakes are common — a genuine L is sharply struck and correctly positioned, while fakes often look engraved or sit at the wrong angle.
Also check the color: 1864 exists in both pale copper-nickel and darker bronze. The L only appears on bronze coins, so a pale 1864 can never be the L variety.
How to confirm it's genuine
- The date is on the obverse below the portrait. Only 1908-S and 1909-S carry a mint mark (under the wreath on the reverse) — every other year is Philadelphia with no mark.
- Coins of 1859–1864 are copper-nickel: paler in color, slightly thicker. Bronze began partway through 1864 — the color difference is visible at a glance.
- The L sits on the lowest ribbon of the headdress behind the neck. A genuine L is sharply struck and tilted correctly; fakes are often engraved and fuzzy. The L only exists on bronze (dark) coins, never on pale copper-nickel.
- Never clean the coin: cleaning destroys the original surface and can cut the value in half.
- For any coin worth more than $200, PCGS/NGC grading fees (~$20–50) are money well spent.
Where to sell this coin
- eBay works best in the $1.00–$200 range. Take clear photos of both sides in natural light, and put the year, variety, and approximate grade in the title.
- A local coin dealer is the fastest way to cash out, but expect 60–70% of guide prices. Common-date Indian Head pennies sell well by the roll or in mixed lots.
- Graded high-value coins do best at auction houses like Heritage Auctions or Stack's Bowers, where realized prices are public.