Therefore, the US Mint decided to solve the problem of expensive coin mintage by canceling half-cent production and reducing the penny diameter and weight. To make things even worse, copper prices raised too much by 1857. Therefore, it was impossible to use these coins for government payments, including paying taxes. Americans used only silver and gold coins in those times, and didn’t trust copper coinage value. The first American pennies were Large cents minted in 1793. The 1898 Indian Head penny value can be significant because pieces in the uncirculated condition are often rare. The idea was to honor Native Americans, but the designer actually depicted Lady Liberty with an Indian headdress on her head. This penny was the second small American cent after the Flying Eagle penny, striking only three years because of design flaws. Chief engraver and portraitist James Barton Longacre designed this coin minted in the Philadelphia mint from 1859 to 1909. The US Mint introduced the Indian Head penny made of 88% copper in 1859, but the composition was changed to 95% copper in 1864.