Factors that affect the value of an Indian arrowhead include size, material and the condition of the point. The ability to give the location where the arrowhead was found can also affect its price. Documentation of its location, if available, may increase the price.
Material and color play a factor in valuation. Depending on the region in which the arrowhead was found, the material and color may differ. Most pieces have duller colors, such as grays and tans, but arrowheads made of more colorful materials are more valuable. Points hewn from jasper, coral, agate or similar materials usually increase in value over time.
While larger arrowheads tend to fetch higher prices, highly symmetric and thinner points also increase the price. Any nicks, chips, breaks and any other form of damage decrease the arrowhead's value. Arrowheads that have gone through the process of flaking usually have higher values. Flaking results in precision edges and fewer fractures in the material.
A rating system exists for arrowheads, ranging from g1 to g10, with g10 being a perfect point. However, a buyer should not make a purchase on the grade alone, as personal preferences should ultimately make that determination.
The Overstreet Identification and Price Guide to Indian Arrowheads serves as a good resource for arrowhead collectors looking for more information.