1. Good (G): A 1903 Indian Head Penny in Good condition can be worth around $1 to $5. Coins in this grade may have visible wear, scratches, and some flattening of the design elements.
2. Fine (F): A 1903 Indian Head Penny in Fine condition can be worth approximately $5 to $10. These coins show more noticeable wear and smoothing of the details, but the date and inscriptions should still be discernible.
3. Very Fine (VF): A 1903 Indian Head Penny in Very Fine condition can range in value from $10 to $20. Coins in this grade have moderate wear but retain some sharpness to the lettering and design elements.
4. Extremely Fine (XF): A 1903 Indian Head Penny in Extremely Fine condition can be worth around $20 to $50. These coins exhibit minimal wear, good detail, and a pleasing eye appeal.
5. Uncirculated (UNC): Uncirculated 1903 Indian Head Pennies are relatively rare and can command higher values. Depending on their preservation and quality, Uncirculated coins can range from $50 to several hundred dollars or more.
Additionally, certain varieties or errors of the 1903 Indian Head Penny can have significant numismatic value and may trade for much higher prices among collectors. For an accurate appraisal, it's always recommended to consult with a professional numismatist or coin dealer who can assess the specific condition and features of the coin in hand.