1. Condition: The condition of a coin is determined by its physical characteristics, such as wear, damage, and overall appearance. Generally, uncirculated and well-preserved coins are more valuable than worn or damaged ones.
2. Variety: There are two main varieties of 1907 US pennies: the Indian Head penny and the Lincoln Head penny. The Indian Head penny was minted until February 1909, while the Lincoln Head penny was introduced in August 1909. The rarity of a particular variety also plays a role in its value.
3. Errors and Rarities: Some 1907 US pennies have minting errors or unusual characteristics that enhance their value. Errors such as double strikes, off-center strikes, and die cracks can make these coins more collectible and valuable.
Here are approximate values for 1907 US pennies in average condition (worn with signs of circulation):
1. 1907 Indian Head Penny: 2 to 25 cents
2. 1907 Lincoln Head Penny: 2 to 3 cents
For well-preserved or uncirculated examples, the value can range from a few dollars to hundreds of dollars, depending on their condition and variety.
If you have a 1907 penny and are interested in determining its exact value, it is recommended to consult with a professional numismatist or coin appraiser. Experts can assess the coin's condition, variety, and potential rarity to provide an accurate valuation.