I have a 1897 Indian Head Cent that weighs 2.9 grams if I'm not mistaken but I might be aren't they supposed to weigh a little bit more and if so is this an error?
I think, given the wear and possible environmental damage (maybe it was buried?), 2.9 grams is reasonable. They are supposed to weight 3.11 grams, but, again, accounting for weight and possible environmental damage, that's probably within tolerance. Your coin is worth at most a buck or so. Also, FYI, you should always ever hold a coin by its edges. It won't hurt this one because of its condition, but it's still good practice.
It should weigh 3.11 grams according to the red book. I'll let the others chime in as to why the missing weight.
Okay, this was/is a metal detecting coin. When I dig Indian cents, after soaking, they are commonly like this.
Looks pretty good for being in the ground so I guess it is cleaned, also maybe accounting for some of the loss in weight.