The 1998 Wide AM Lincoln Penny value ranges from about $10 in circulated condition to over $1,000 for specimens in high-grade mint state. While most 1998 pennies are only worth face value, this specific “Wide AM” variety is a rare treasure waiting to be found in your pocket change.

How to Identify the 1998 Wide AM Penny Variety

If you have a jar of old change, you might be sitting on a small fortune without realizing it. The 1998 Wide AM Lincoln Penny is what collectors call a “variety” coin. To understand why it is special, you first need to know that the U.S. Mint accidentally used a design intended for Proof coins on regular circulating pennies. If you want to check your pocket change quickly, using a top coin identifier app can help you zoom in on these tiny details.

The primary way to identify this coin is to look at the reverse (the back) of the penny. Locate the word “AMERICA.” On a normal 1998 penny, the letters “A” and “M” are so close together that they almost touch at the bottom. This is the “Close AM” version, and it is very common.

However, on the rare “Wide AM” variety, there is a clear, distinct space between the “A” and the “M.” The gap is wide enough that you could almost fit the tip of a needle between them. Another secondary clue is the designer’s initials, “FG,” located near the Lincoln Memorial. On the Wide AM variety, the initials are closer to the building than on the standard version. Using the CoinHix app can provide high-resolution references to help you make this distinction.

Historical Context of the 1998 Wide AM Variety

To understand the value of this coin, we have to look back at how the U.S. Mint operated in the late 1990s. Generally, the Mint used two different sets of dies: one for business strikes (the coins meant for daily spending) and one for Proof strikes (special, shiny coins meant for collectors).

In 1998, a few Proof dies were mistakenly used to strike regular pennies at the Philadelphia Mint. Because these dies were meant for Proof coins—which have the Wide AM design—a small batch of “illegal” error coins entered circulation. This mistake happened again in 1999 and 2000, but the 1998 version remains a favorite among hobbyists.

Because these were released into general circulation, many were spent and heavily worn down. Finding one in pristine condition is rare, which is why knowledgeable collectors are willing to pay a premium. You can track the latest market trends and 1998 Lincoln penny value information to see how prices have fluctuated over the last few years as more people become aware of this error.

The Current Market Value of the 1998 Wide AM Penny

The price of a 1998 Wide AM Penny depends almost entirely on its condition, or “grade.” A coin that has been rattling around in a cash register for 20 years will be worth significantly less than one that was tucked away in a piggy bank and never touched. Most discovered examples fall into the “About Uncirculated” or “Low Mint State” categories.

For a raw, circulated 1998 Wide AM, you can expect to see prices between $10 and $25 on sites like eBay. If the coin is “Red” (meaning it still has its original copper luster), the price jumps significantly. Professional grading by services like PCGS or NGC can further boost value.

The current 1998 Wide AM penny price data shows that examples graded MS67 or higher can fetch several hundred dollars. High-end collectors are always hunting for the highest “pop” (population) coins to complete their sets, making CoinHix an essential tool for monitoring upcoming auctions and recent sales.

Condition / Grade	Estimated Value Range
Circulated (Worn)	$5 – $15
About Uncirculated (AU)	$20 – $40
Mint State 63 (Red-Brown)	$50 – $100
Mint State 65 (Red)	$150 – $300
Mint State 67 (Red)	$600 – $1,200+

Tips for Searching and Storing Your Pennies

If you want to start “roll hunting”—the hobby of buying rolls of pennies from the bank to search for errors—the 1998 Wide AM should be at the top of your list. It is common enough that you actually have a chance of finding one, but rare enough to be worth the effort.

To search effectively, you will need a magnifying glass or a basic digital microscope. Since the difference between the “Close AM” and “Wide AM” is only a fraction of a millimeter, it can be hard to see with the naked eye. Look for 1998 pennies that do not have a mint mark (indicating they were made in Philadelphia).

Once you find a potential candidate, handle it only by the edges. The oils from your skin can cause fingerprints and damage the copper surface over time. Place the coin in a PVC-free flip or a plastic coin capsule to preserve its condition. Before you send it off for expensive grading, you can use the CoinHix app to compare your find with authenticated examples to ensure you have the real deal.

Why Collectors Treasure the Wide AM Series

The 1998 Wide AM is part of a “trio” of modern errors that also includes the 1999 and 2000 Wide AM pennies. Among these, the 1999 is the rarest and most expensive, while the 2000 is the most common. The 1998 sits right in the middle, offering a perfect entry point for new collectors.

These coins are popular because they are “transitional design varieties.” They represent a moment of human error in a highly automated government process. For Americans who grew up using these coins, there is a certain thrill in finding something valuable that was hidden in plain sight for decades.

As more people move toward digital payments, the amount of physical “junk” change is decreasing. This makes the existing 1998 Wide AM pennies more desirable as the supply in circulation dries up. Whether you are a serious numismatist or just a curious homeowner with a jar of coins on the dresser, checking your 1998 pennies is a fun and potentially profitable way to spend an afternoon.

FAQ

Q: Is every 1998 penny worth money?

A: No. The vast majority of 1998 pennies are the “Close AM” variety and are only worth one cent. Only the “Wide AM” variety carries a significant premium.

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

A: The rare Wide AM variety was produced at the Philadelphia Mint, so it will not have a mint mark below the date. If you see a “D” (Denver) or “S” (San Francisco) mark, it is not the variety discussed here.

Q: How can I tell for sure if I have a Wide AM?

A: Look at the “AM” in AMERICA on the back. If there is a clear space between the bottoms of the letters, it is a Wide AM. If they are touching or nearly touching, it is a standard Close AM.

Q: Is it worth getting my 1998 Wide AM penny professionally graded?

A: It depends on the condition. If the coin looks brand new and shiny (Uncirculated), it is often worth the $30-$50 grading fee. If the coin is dark, scratched, or heavily worn, it may be better to keep it in a simple coin flip.