Sorry, no Indian Head cents in 1803, the first one was struck in 1859. Please look at the coin again and post new question.
Most likely an Indian Head cent. However, it would depend on the date, mintmark, and condition of the penny that would determine which is worth more.
If you are referring to an 1803 large cent -- like the one pictured here : http://www.coinfacts.com/large_cents/draped_bust_large_cents/1803_large_cents/1803_large_cent_varieties.htm then its value, in heavily worn condition, is about $40 -- in lightly worn condition is about $180 -- and in uncirculated condition is about $2,000 If what you have is actually a 1903 Indian Head Cent -- similar to the one pictured here : http://www.coinfacts.com/small_cents/indian_head_cents/1888_indian_head_cents.htm then in average circulated condition it's worth about a dollar. If neither of these is the coin you are referring to, then please submit another question, with a complete description of both sides of the coin.
If you have a 1850 Cent, it is actually a Coronet Large cent - its value in good condition is: $20.00. Indian Head cents were not minted until the year of 1859.
No Indian Head cents were struck after 1909. A 1934 Lincoln cent is worth about 10 cents in average condition.
1895 is a common date Indian Head cent, retail values are $1.00-$5.00 for coins in average circulated condition.
Most likely an Indian Head cent. However, it would depend on the date, mintmark, and condition of the penny that would determine which is worth more.
If you are referring to an 1803 large cent -- like the one pictured here : http://www.coinfacts.com/large_cents/draped_bust_large_cents/1803_large_cents/1803_large_cent_varieties.htm then its value, in heavily worn condition, is about $40 -- in lightly worn condition is about $180 -- and in uncirculated condition is about $2,000 If what you have is actually a 1903 Indian Head Cent -- similar to the one pictured here : http://www.coinfacts.com/small_cents/indian_head_cents/1888_indian_head_cents.htm then in average circulated condition it's worth about a dollar. If neither of these is the coin you are referring to, then please submit another question, with a complete description of both sides of the coin.
If you have a 1850 Cent, it is actually a Coronet Large cent - its value in good condition is: $20.00. Indian Head cents were not minted until the year of 1859.
No Indian Head cents were struck after 1909. A 1934 Lincoln cent is worth about 10 cents in average condition.
1895 is a common date Indian Head cent, retail values are $1.00-$5.00 for coins in average circulated condition.
The 1904 Indian Head cent is a common coin, in average condition values are $1.00-$3.00.
Indian Head cents were not produced until 1859.
A 1889 penny - aka - Indian Head Cent - in good condition (G4) is worth: $2.00; if its mint state is MS60, the value is: $65.00.
To figure out the value of the Indian one cent you must first know the year it was made. Once you know the year, then the value is determined by the scarcity and condition of the coin.
In average condition, a 1901 Indian head cent is valued at $1.00-$3.00.
As of 05/2009 an 1862 'Indian Head' penny in good condition is worth $8.00, in fine condition it is worth $11.00, in extremely fine condition it is worth $28.00, in uncirculated condition it is worth $95.00 to $1,000, and proof is worth $600.00.
Indian Head cents were minted from 1859 to 1909. If your coin is about the size of a half-dollar (around 30 mm in diameter) it is called a Large Cent or Liberty Head cent, not an Indian Head cent. If it's anything else please post a new question with more details.