The 1870 Indian Head Penny: What Is Yours Worth?

The "Pick-Axe" variety is the undisputed star of the 1870 Indian cent family. It results from a Class V hub doubling event where two die hub impressions struck the working die at a slight rotational offset, concentrating extra metal in a dramatic formation between the letters "L" and "I" in the obverse headband inscription LIBERTY. The resulting shape resembles the head of a pick-axe tool, giving this variety its iconic collector nickname.

To identify it, use a 10× loupe and focus on the space between "L" and "I" in LIBERTY on Miss Liberty's headband. You will see an unmistakable wedge or beak-shaped protrusion of extra die metal — not to be confused with die polish lines, which are thinner and run across features rather than between them. The Pick-Axe protrusion sits firmly between the two letters at the base of the headband ribbon and shows consistent metal displacement.

Collectors pay a substantial premium because the Pick-Axe is visually dramatic, instantly recognizable without specialized tools, and is one of the most famous Indian cent varieties in any year. PCGS-certified MS64BN examples have sold at auction for over $1,400 in 2026 sales. In higher Mint State grades with RB or RD color, prices rise substantially beyond that level, and the variety's fame drives consistent demand from both variety specialists and type collectors.

The DDO FS-101 is a Class III hub doubling variety, meaning the two hub impressions are offset by rotation about a point near the center of the die, causing maximum spread at the periphery of the design and lesser spread near the center. On the obverse, this manifests as clear doubling on the letters of LIBERTY in the headband, most prominently on the letters "L," "I," and "B," and also visible in portions of the portrait's hair curls near the ribbon.

Visual identification requires comparing the letter edges under magnification. On FS-101, the inner edges of LIBERTY letters show a secondary step-like shelf of metal displaced outward (toward the rim) from the primary letter edge. The doubling is most distinct on the right-hand side of each affected letter when the coin is held obverse-up in standard orientation. A 10× loupe reveals the characteristic stepped profile of Class III hub doubling clearly on choice examples.

The FS-101 is cross-referenced as Snow-2 and Snow-3 in the definitive Rick Snow reference, and also carries the old Fivaz-Stanton designation FS-008.6. It is included on recognized Top 100 Indian Cent varieties lists, elevating collector demand. Certified examples at PCGS bring premiums over regular strikes across all grade levels; the DDO/DDR combined variety (FS-101/801, Snow-2) is particularly prized for featuring the doubled reverse as well.

The FS-102 variety is exceptional because it combines two distinct die preparation errors on the same working die: a doubled die obverse (DDO) and a misplaced date (MPD). The MPD component — designated MPD-001 — was caused when the date logotype was first impressed into the die at an incorrect, low position, leaving fragments of the digits pressed into the denticle zone below the date. The die was then re-entered at the proper height, but the errant lower impressions survived in the denticles.

To identify this variety, examine the denticles directly below the date numerals under 10× to 20× magnification. You should see partial impressions of digit bases — particularly portions of the "8" and "7" — pressed into or just above the denticle row. The accompanying DDO shows Type 2 hub doubling on LIBERTY. The combination of both MPD and DDO on a single die makes this one of the most diagnostically complex and collectible 1870 varieties.

Snow-5 in Rick Snow's reference is the primary cross-reference for this variety, along with the PCGS designation FS-102 and old designation FS-008.82. Its rarity is rated URS-6 (estimated 20–45 examples known) in variety rarity scales, making certified survivors genuinely scarce. Because the MPD is visible with a good loupe even on worn examples, it can be found in lower circulated grades — a significant advantage for budget-minded variety hunters seeking an affordable entry point.

The Shallow N FS-901 variety is named for its most obvious diagnostic feature: the "N" in ONE CENT on the reverse appears markedly shallower and more weakly defined than the letters immediately adjacent to it. This anomaly occurred during the die-making process when the reverse hub letter punch for the "N" was not fully seated into the working die during preparation, leaving the "N" with less relief than its neighbors. The die was used regardless, producing a consistent and identifiable diagnostic across all coins struck from this reverse die.

Identification is accessible even without magnification on high-grade coins: hold the coin under a raking light source and compare the depth of shadow cast by the "N" in ONE to the "O," "E," and surrounding "C," "E," "N," "T" letters. On the Shallow N variety, the "N" casts noticeably less shadow, appearing lighter and more flat compared to fully impressed letters. A 10× loupe confirms the shallower relief depth. This is one of the easier 1870 varieties to diagnose in the field.

Despite being straightforward to identify, the Shallow N commands significant premiums — especially in full red (RD) designation. A PCGS MS-65+ RD CAC example was offered at GreatCollections in 2025, attracting 48 bids. The variety is catalogued across BN, RB, and RD color designations at PCGS (FS-901). Its approachable identification combined with genuine rarity in high-grade RD condition makes it attractive to both new variety collectors and advanced specialists.

Repunched date (RPD) varieties occur during die manufacturing when the date logotype is pressed into the working die, then repositioned and repunched — either because the initial impression was misaligned or improperly seated. On the FS-301 variety (old designation FS-008.81), the initial date punch left ghost impressions at positions slightly offset from the final date placement. These remnant impressions survive as secondary date digits partially visible alongside or beneath the primary date numerals.

To find this variety, examine the date area under 10× magnification, focusing specifically on the base of the "1" at the left of the date and the upper loop of the "8." On FS-301, secondary impressions of these digits are visible just to the northwest above the base of the "1" and within the upper loop of the "8." The additional impressions are distinct from die polish marks because they follow the exact curved contours of the date numerals rather than running in straight or random directions.

The RPD FS-301 carries a moderate to significant premium over regular strikes, varying with grade and eye appeal. It appeals to date and mint variety specialists as well as collectors building complete Indian cent variety sets. While it does not carry the instant visual drama of the Pick-Axe variety, the FS-301's clear diagnostic features and consistent PCGS certification history make it a reliable and rewarding variety to pursue. Examples are certified in BN, RB, and RD color designations across a range of circulated and Mint State grades.