1998 Wide AM Lincoln Penny Value: A Complete Price Guide

The 1998 Wide AM Lincoln Penny is worth anywhere from $5 in circulated condition to over $600 in high-grade pristine condition. While most pennies in your pocket change are only worth one cent, this specific “variety” coin can turn a handful of copper and zinc into a significant payday if you know exactly what to look for on the reverse side.

Condition / Grade	Estimated Value
Circulated (Average Wear)	$5 – $15
About Uncirculated (AU)	$20 – $40
Mint State 65 (Red)	$150 – $250
Mint State 67+ (Exceptional)	$500 – $650+

What is the 1998 Wide AM Lincoln Penny?

If you’ve been looking through your loose change lately, you might have heard about the legendary “Wide AM” penny. In 1998, the United States Mint accidentally used a proof reverse die to strike a small number of business-strike pennies intended for general circulation. To the untrained eye, it looks like just any other Lincoln Cent, but for collectors, it is a rare “transitional” variety that commands a premium price.

Learning to identify these can be tricky, which is why many beginners use a top coin identifier and value app to scan their finds. By using a tool like CoinKnow, you can quickly determine if the spacing on the back of your penny matches the rare “Wide AM” criteria or the common “Close AM” design.

The difference lies in the letters “A” and “M” in the word “AMERICA” on the back of the coin. On a standard 1998 penny, these letters should be almost touching. However, on the rare “Wide AM” version, there is a distinct, visible gap between the feet of the two letters. Finding one of these in your piggy bank is like finding a small treasure hidden in plain sight.

How to Identify the 1998 Wide AM Penny Variety

To confirm you have a 1998 Wide AM Lincoln Penny, you need to look at two specific markers on the reverse (tails) side of the coin. The primary marker is the spacing between the bottom of the “A” and “M” in “AMERICA.” On the rare variety, the gap is wide enough that you could theoretically fit another letter between them.

The second marker involves the designer’s initials, “FG,” located to the right of the Lincoln Memorial. On the rare Wide AM variety, the “FG” is located closer to the Memorial building than on the common version. Additionally, the letters in the initials are slightly different in shape compared to the standard business strike.

Because these differences are microscopic, many hobbyists rely on CoinKnow to get a magnified view and compare their coin against high-resolution reference images. If you aren’t sure, it is always best to check. According to current 1998 penny value information, the rarity of this variety makes it one of the most sought-after modern pennies for those searching through “coin rolls” from the bank.

Feature	Common (Close AM)	Rare (Wide AM)
A-M Spacing	Letters almost touching	Distinct, wide gap
FG Initials	Further from Memorial	Closer to Memorial
Rarity	Face Value ($0.01)	High Premium ($5 – $600+)

Grading and the Impact on 1998 Wide AM Value

The value of your 1998 Wide AM penny depends heavily on its “grade,” which is a measure of how much wear and tear the coin has experienced. Most Wide AM pennies found in circulation are “Brown” (BN) or “Red-Brown” (RB) in color and show signs of being handled. While these are still valuable, the real money is in “Red” (RD) specimens that look like they just came from the mint.

Professional grading services like PCGS or NGC use a 70-point scale. A 1998 Wide AM in MS63 (Mint State 63) might be worth about $50, but an MS67 RD specimen can reach much higher prices. For example, the current price for a 1998 Wide AM MS RD grade can fluctuate based on market demand at major auctions.

If you find a penny that looks exceptionally shiny and has no scratches, you should consider professional grading. A high-grade example is much harder to find than a circulated one, as most of these coins spent years being passed around in transactions before a collector spotted them.

Color/Luster Category	Description	Value Multiplier
RD (Red)	95% original mint copper color	Highest Value
RB (Red-Brown)	Mix of copper and brown tones	Moderate Value
BN (Brown)	Fully oxidized brown surface	Base Variety Value

Why Did the Mint Make This Mistake?

To understand why the 1998 Wide AM Lincoln Penny exists, you have to understand the difference between “business strikes” and “proof coins.” Business strikes are the billions of pennies made for us to spend at the store. Proof coins are specially made for collectors with extra care and a different set of dies that create a mirror-like finish.

In the late 1990s, the U.S. Mint used two different designs for the word “AMERICA.” The proof die had the “Wide AM” spacing, while the business die had the “Close AM” spacing. In 1998, 1999, and 2000, Philadelphia Mint employees accidentally used proof reverse dies to strike regular pennies meant for circulation.

The 1998 version is the second most common of this trio (behind the 2000), but it is still quite rare compared to the billions of regular pennies made that year. Because this was a mistake at the Philadelphia Mint, these pennies do not have a mint mark (no “D” or “S”) under the date. If you see a 1998-D penny, it is almost certainly a Close AM, as the mistake primarily happened in Philly.

Where Can You Find These Rare Pennies?

The best place to find a 1998 Wide AM penny is in “bank-wrapped rolls” or your own spare change jars. Many people have thousands of pennies sitting in containers at home. By spending an afternoon sorting through them with a magnifying glass or using the CoinKnow app to identify potential candidates, you could uncover a coin worth $20 or $100.

Another popular method is “Coin Roll Hunting.” This involves going to a local bank, buying $25 worth of pennies (50 rolls), and searching through them specifically for varieties like the Wide AM. Since most people aren’t aware of this specific error, many of these coins are still circulating today, waiting to be discovered by an observant eye.

Keep in mind that while the 1998 is valuable, you should also look for the 1999 Wide AM (which is the rarest and worth thousands) and the 2000 Wide AM (which is the most common but still worth $5 to $50). Collectors often try to find the “Complete Set” of all three years to increase the total value of their collection.

Understanding the Market for 1998 Error Coins

The market for error coins and varieties has exploded in recent years. Unlike gold coins which depend on the price of bullion, the value of the 1998 Wide AM Lincoln Penny is driven purely by collector demand. As more people learn about this variety through social media and coin apps, more people want to own an example for their Lincoln Cent albums.

Prices can fluctuate based on auction results. If a particularly beautiful MS67 Red specimen sells for a record price at a major auction house, the value of lower-grade coins often follows suit. It is important to stay updated on recent sales rather than relying on “asking prices” on sites like eBay, which can often be inflated.

For everyday Americans, the 1998 Wide AM represents an accessible way to enter the world of coin collecting. You don’t need to spend thousands of dollars to start; you just need to be patient, stay observant, and perhaps use a digital tool to help you verify your finds. Whether you sell it or keep it as a lucky charm, finding one is a thrill every collector remembers.

FAQ

Q: Does a 1998 Wide AM penny have a mint mark?

A: No. The rare 1998 Wide AM pennies were struck at the Philadelphia Mint, which does not put a mint mark on pennies. If your 1998 penny has a “D” under the date, it was made in Denver and is almost certainly the common “Close AM” variety.

Q: How can I tell for sure if my penny has a “Wide AM”?

A: The easiest way is to look at the letters A and M in “AMERICA.” On the rare variety, they are clearly separated. On the common penny, they are so close they almost touch at the bottom. You can also use the CoinKnow app to compare your coin’s image with a known Wide AM specimen.

Q: Is the 1998 Wide AM penny made of copper or zinc?

A: Like all pennies made after 1982, the 1998 Wide AM is made of a zinc core with a thin copper plating. This makes them prone to “zinc rot” or small bubbles, so finding one in “Mint State” without any corrosion is quite rare and increases the value significantly.

Q: What is the most a 1998 Wide AM penny has ever sold for?

A: High-grade examples in MS67 Red condition have sold for over $1,000 in past years, though most average-condition Wide AM pennies sell in the $10 to $25 range. The price depends entirely on the specific condition and the presence of a “Red” designation from a grading service.