With the possible exception of traders tokens (with the traders business name on them), there were no "New Zealand" Pennies minted prior to 1940.
Any Pennies circulating in New Zealand prior to 1940 would have been mostly British Pennies and some Australian Pennies (from 1910).
For the collector value with the exceptions of errors and specially made proof coins, the penny would have to be made before 1959.
The value of any coin would depend on the year and the condition. Most New Zealand decimal coins, unless they are in mint uncirculated condition, would be worth face value only. NOTE - All New Zealand pre-2006 50 cent coins are no longer legal tender, but they are redeemable for face value at the Reserve Bank of New Zealand.
approx. $167.50.an 1812 penny, or cent would be a Classic Head Large Cent and would be worth about $50 or more depending on condition. If it has been cleaned it would be worth less. Cleaning coins reduces the value of the coin
Dating back to the settlement of New Zealand and prior to New Zealand issuing its own currency in 1933, the usual range of British coins and some Australian coins were circulating as legitimate currency in New Zealand. Pre-1933 British coins would have included the gold Sovereign and Half-Sovereign, the silver Crown, Halfcrown, Florin (Two Shillings), Shilling, Sixpence and Threepence, the bronze Penny, Halfpenny and Farthing. The Australian currency of the time was almost identical to the equivalent British coins and included the silver Florin (Two Shillings), Shilling, Sixpence and Threepence, the bronze Penny and Halfpenny.
These two coins would be referred to as: Indian Head cents. In 1887, there were ~45,224,000 coins minted; in 1888, the US Mint produced ~37,490,000 coins. Therefore, the 1888 coin is worth a bit more because fewer were minted. Take 2 - The "TRICK" here is to get the question right . . . it should be stated as "Why are 1888 pennies worth more than 1887 pennies?" And the answer? - Because there is one more penny.
This type of minting error is called 'Off Center'. the coins with nearly all the impression missing are worth more, but those with those with date and mint mark are worth the most. Average worth of a wheat penny with off center error is $3.50.
What would the worth of a 1901 penny be?
In "Good" or g-4 condition, this coin would be worth around $15 dollars. Its value would go up from there depending on condition. If it was cleaned though, its value would be less as cleaned coins are worth less money.
With the possible exception of "Traders Tokens", there were no New Zealand coins minted prior to 1933. Any coins circulating in New Zealand prior to 1933 would have been mostly British coins and some Australian coins.
How much would an 1897 indain head penny be worth today in 2012
The U.S. never minted a silver penny. It would have more than a dime's worth of silver in it. 1983 and later cents are all made of copper-coated steel so you may have a cent where the copper coating was removed with acid (worth only a penny) or was never plated in the first place (worth a significant amount). It would need to be inspected by a dealer who handles error coins.
It's only a penny spend it.