These novelty items sell for a few dollars in gift shops, but they're really only conversation pieces or "trick coins" with little or no collector value.
The fact that you recognized the coin as a novelty piece indicates you're aware that they're manufactured by cutting two genuine coins in half sideways and swapping the resulting sides. That means they're "damaged goods" from a numismatic standpoint.
Unfortunately, if the Indian head cent half was made by cutting apart a genuine 1877 coin the financial loss is significant. 1877 is a key date in the series, with values ranging from about $500 for a worn one all the way up to tens of thousands of dollars for top-quality uncirculated coin.
A Buffalo Nickel stamped on a penny is worth $800.00. A Jefferson Nickel stamped on a ZN penny is worth $70.00. A Jefferson Nickel stamped on a CU penny is worth $60.00.
This is not a Mint error, it's a novelty coin that has no collectible value.
The coin you have described sounds like a novelity coin and has no value other than the materials it is made from.
There's no coin called a "buffalo penny". Indian head cents were made from 1859 to 1909, and buffalo nickels were made from 1913 to 1938.
It is worth $1.00. Check on (about.com)Indian head penny
Please check your coin again. It says FIVE CENTS under the buffalo so it's a nickel rather than a penny, and is called either an Indian head nickel or a buffalo nickel; both names are equally common. There's more information at the Related Question.
Five to ten years for counterfieting. Do you mean Buffalo Nickels (aka Indian Head Nickels)? Common dates with significant wear are worth about 25 cents apiece. Scarce dates in Mint State condition may be worth several thousand dollars.
It's a novelty item made by cutting two different coins in half sideways, then fusing one side of each. They're called "magician's coins" and sell for a few dollars, but have no numismatic or collector value.
move the penny on the far right over to the other side on the left and then move the 1st nickel over to the right...hence penny penny penny nickel nickel
Four cents.
The 1863 Indian Head cent is still the copper-nickel composition (.880 copper & .120 nickel) 1864 is the year they were first struck in bronze.
Are you asking about a Indian head penny or a nickel? Post a new question with the denomination and date of the coin.