1998 Wide AM Lincoln Penny Value: Is Your Cent Worth $500?

The 1998 Wide AM Lincoln Penny is worth anywhere from $5 in circulated condition to over $500 in high-grade mint state. Finding this rare “variety” in your pocket change is like finding a hidden treasure, as most 1998 cents are common, but this specific minting error is highly coveted by collectors.

Condition / Grade	Estimated Value
Circulated (Average Wear)	$5 – $15
About Uncirculated (AU)	$20 – $40
Mint State 63 (Red)	$50 – $75
Mint State 65 (Red)	$150 – $250
Mint State 67+ (Elite Grade)	$500+

What Exactly is the 1998 Wide AM Penny Variety?

The 1998 Wide AM Lincoln Penny is a “transitional variety” caused by an accidental mix-up at the United States Mint. To understand why this coin is valuable, you first need to know that the Mint uses different dies for circulating coins and proof coins (the shiny ones made for collectors). In 1998, a few “Proof” reverse dies were accidentally used to strike regular pennies intended for daily commerce.

If you aren’t sure if you’ve found one, using a top coin identifier app can help you zoom in on the specific details that separate a common cent from a high-value error. On a standard 1998 penny, the “A” and “M” of AMERICA are practically touching. On the rare Wide AM version, there is a clear, visible gap between these two letters.

Many beginners use the CoinKnow app to scan their loose change, as it helps identify surface features that might be missed by the naked eye. Because billions of pennies were minted in 1998, finding the Wide AM requires patience, but the financial reward makes the hunt worthwhile for everyday Americans.

How to Identify the 1998 Wide AM Penny

To identify this coin, you don’t need a PhD in numismatics, but you will need a magnifying glass or a jeweler’s loupe. Flip the penny to the reverse (the “tails” side) and look closely at the word AMERICA. In the standard “Close AM” version, the feet of the letters A and M are so close they almost overlap. In the “Wide AM” variety, the gap is distinct.

Another key identifier is the designer’s initials, “FG” (Frank Gasparro), located to the right of the Lincoln Memorial. On the rare Wide AM penny, the initials are smaller and further away from the building. On the common version, the initials are closer to the base of the Memorial. Checking these two markers together is the best way to confirm your find.

Using CoinKnow can simplify this process by comparing your coin’s image against known error templates. If the spacing looks suspicious, it is always worth setting that penny aside for a professional evaluation, as even a worn version of this error is worth significantly more than its face value of one cent.

Feature	Standard 1998 Penny	Wide AM Variety
A-M Spacing	Touching or nearly touching	Visible gap between A and M
“FG” Initials	Close to the Memorial	Further from the Memorial
Rarity	Very Common	Rare / Scarce

Grading and the Value of Red Lincoln Pennies

When determining the price, “color” is everything for modern Lincoln cents. Professional graders like PCGS and NGC categorize copper coins as Brown (BN), Red-Brown (RB), or Red (RD). A “Red” penny is one that looks like it just came off the minting press, retaining at least 95% of its original copper luster.

For a 1998 Wide AM, a Brown specimen might sell for $10 to $20, while a bright Red specimen in a high grade can skyrocket in price. You can find detailed 1998 penny MS RD values that show just how much of a premium collectors pay for that original mint luster.

Most pennies found in pocket change will be Brown or Red-Brown. However, if you find a 1998 penny in an old coin jar or an unsearched roll that still looks brand new, you should handle it only by the edges. Any fingerprints or oils from your skin can cause the coin to tarnish, instantly lowering its potential market value.

Why the 1998 Wide AM is More Common Than the 1999

If you spend any time researching “Wide AM” pennies, you will likely encounter the 1998, the 1999, and the 2000 varieties. Among these three, the 1999 is the “King,” often selling for thousands of dollars because it is extremely rare. The 1998 version is more common than the 1999 but rarer than the 2000.

Because thousands of the 1998 Wide AM pennies were released into circulation before the Mint caught the error, they are still out there waiting to be found. This makes it the perfect “starting point” for new collectors. Identifying a 1998 error is a great way to build confidence before hunting for more expensive varieties.

Current market trends suggest that the 1998 Lincoln penny value remains stable because of its popularity in “Lincoln Memorial Cent” registry sets. Collectors want a complete set of every year and Every variety, so demand for the 1998 Wide AM stays high even if it isn’t the single rarest coin in existence.

Year	Variety Type	Market Scarcity
1998	Wide AM	Scarce (Highly Collectible)
1999	Wide AM	Very Rare (Very Valuable)
2000	Wide AM	Common (Lowest Value)

Where to Sell Your 1998 Wide AM Penny

If you’ve used CoinKnow to confirm you have the Wide AM variety, your next question is likely: “Where can I sell this for the most money?” For coins valued under $50, eBay is often the best platform. There is a huge community of penny collectors who bid on raw (unauthenticated) error coins daily.

For high-grade specimens that look perfectly preserved, it may be worth sending the coin to a professional grading service like PCGS or NGC. A “certified” 1998 Wide AM penny in a plastic slab will always sell for more than an uncertified one because the buyer has a guarantee of its authenticity and grade.

Local coin shops are another option, but keep in mind that dealers need to make a profit. They will typically offer you 50% to 70% of the coin’s retail value. If you want the full market price, selling directly to another collector through online forums or auction sites is usually the better route for everyday Americans.

Conclusion: Is It Worth The Hunt?

Searching for the 1998 Wide AM penny is a fun and low-risk hobby. Unlike gold or silver coins, which require a large upfront investment, you can start hunting for these error pennies by simply looking through your spare change or buying $25 boxes of pennies from your local bank.

While most 1998 pennies are only worth one cent, the chance of finding a $20 or $200 coin hidden in a pile of copper is what keeps the hobby exciting. Stay patient, keep your magnifying glass handy, and always double-check the spacing of those “AM” letters before you spend your change!

FAQ

Q: Why did the post-1992 pennies have “Wide AM” and “Close AM” versions?

A: It was due to a change in design. Starting in 1993, regular pennies were supposed to have the letters A and M touching (Close AM), while Proof pennies kept the old style where they were separated (Wide AM). The errors happened when the Mint worker accidentally used the Proof die for regular production.

Q: Can I find a 1998-D Wide AM Penny?

A: No. The Wide AM error for 1998 is only known to exist on coins minted in Philadelphia (the ones with no mint mark). If you have a 1998-D penny, it will almost certainly have the standard Close AM spacing.

Q: Does the condition of the coin matter for an error like this?

A: Absolutely. While a heavily scratched or dirty 1998 Wide AM is still worth about $5 to $10 because of its rarity, a “Mint State” version that looks like it’s never been touched can sell for $100 or more.

Q: How many 1998 Wide AM pennies were made?

A: The exact number is unknown because it was a mistake. However, experts estimate that several thousand are in circulation, making it “findable” but still very much a prize for those who look.