The value of a 1904 Indian Head penny can vary depending on its condition and rarity. Here are the approximate values for different grades of the 1904 Indian Head penny:
- Good (G): $2 - $5
- Very Good (VG): $5 - $10
- Fine (F): $10 - $20
- **Very Fine (VF): $20 - $30
- Extremely Fine (EF): $40 - $60
- Uncirculated (UNC): $100 - $250
Please note that these values are just estimates and actual prices can vary based on market conditions, collector demand, and other factors. It's always a good idea to get an appraisal or consult with an expert numismatist to determine the exact value of a specific 1904 Indian Head penny.