Indian Head Pennies depict Lady Liberty wearing a feathered headdress, which looks similar to an American Indian war bonnet, hence the popular name "Indian Head Penny." These were the second of the so-called U.S. "small cents," with the short-lived Flying Eagle Cent being its predecessor. All Indian Head Cents are worth at least a dollar if you can read the date and still see the basic devices (G-4 grade), but many are worth considerably more, even in this modest grade.