Found any 1998 pennies in your pocket change lately?
You might want to double check and see if they are the rare and valuable 1998 pennies that are mentioned in this article!
Today we’re going to talk about the current value of 1998 pennies — including all of the various types and varieties that you are likely to find in spare change.
How Much Is A 1998 Penny Worth?
There are many 1998 pennies worth more than face value — some even have values into the hundreds and, yes, even thousands of dollars!
So, which ones are they?
Here’s a look at the current 1998 penny values…
1998 Penny Value (no mintmark)
The 1998 penny with no mint letter (mintmark) under the date was struck at the Philadelphia Mint — which produced 5,032,155,000 Lincoln pennies that year. As more than 5 billion were struck, the 1998 penny without a mintmark is extremely common. Therefore, unless your 1998 penny is uncirculated (was never spent as money) or has some kind of error or variety (see list below), it is worth only face value. These pennies are safe to spend.
While virtually all 1998 pennies that turn up in spare change are worth only one cent, there are plenty that are worth far more than that!
Uncirculated 1998 pennies, which have no wear and usually look like they just left the mint, are worth 10 to 30 cents… and up. You can find these like-new 1998 pennies in rolls from the bank and in United States Mint uncirculated sets.
The most valuable 1998 penny without a mintmark was graded MS69RD by Professional Coin Grading Service and sold for $5,800 in 2020.
1998-D Penny Value (“D” mintmark)
The 1998-D penny was made at the Denver Mint in Colorado — which struck pennies with a little “D” mintmark under the date.
The Denver Mint struck a total of 5,225,353,500 Lincoln pennies in 1998, so there were plenty to go around and they are still quite common today. You don’t need to worry about keeping any worn 1998-D pennies you find in loose change, because — unless they contain any errors or varieties — they’re worth just their face value of one cent.
There are 1998-D pennies worth saving, though!
Ideally, you want to look for 1998 pennies that have no wear and were never spent as money. Most uncirculated 1998-D pennies visually stand out from worn ones, and they generally appear as though they just left the mint. You can find uncirculated 1998-D pennies in rolls from the bank and U.S. Mint uncirculated sets. They are worth 10 to 30 cents… and up.
One of the most valuable 1998-D pennies ever sold was graded MS68RD by Professional Coin Grading Service and took $252 in a 2019 transaction.
1998-S Penny Value (“S” mintmark)
The 1998-S penny is a special kind of coin that was produced at the San Francisco Mint just for coin collectors.
The U.S. Mint struck these 1998-S proof pennies on high-tonnage presses using specially prepared dies and polished blanks — striking the coins twice to ensure even the most minute details were revealed.
A total of 2,086,507 of the 1998-S Lincoln pennies were struck, and they were sold in sets of other proof coins. Both the sets and the individual proof coins broken out of these sets can be bought from coin dealers today.
A typical 1998-S penny sells for $3 to $5.
The most valuable 1998-S penny was graded PR70DCAM by Professional Coin Grading Service and sold for $1,265 in 2005.
IMPORTANT: What Is The Grade Of Your 1998 Penny?
To determine the true value of your 1998 Lincoln cent, you first need to know what condition (or grade) your coin is in.
Grab a coin magnifier and a copy of the U.S. Coin Grading Standards book. Then, watch this video to see how to grade coins yourself at home:
These are the best coin grading apps that make grading coins yourself SO much easier!
A List Of Rare 1998 Error Pennies To Look For
There are many 1998 penny errors and varieties worth more than face value. The trick is knowing which 1998 pennies are real errors and varieties worth money, and which ones are simply coins with post-mint damage. (Unfortunately, the odds of finding a real error are tougher than many might want to believe.)
Most of the unusual 1998 pennies you find in circulation are simply damaged through extensive use, exposure to chemicals, or intentional alterations by folks with too much time on their hands.
But there are a few kinds of errors and varieties you should be looking for on your 1998 pennies.
Here’s a list of the 1998 penny errors that you’re most likely to find in circulation — along with their current values:
1998 Wide AM Penny Error
There’s an interesting error to be found on the reverse (tails side) of some 1998 pennies — it’s called the Wide AM variety.
The Wide AM shows the bottom of the letters “A” and “M” in “AMERICA” spaced much farther apart than ordinarily seen on circulating 1998 pennies.
What happened?
In 1998, the Wide AM reverse die was supposed to be reserved only for proof pennies — but at least one proof die was put into service for striking circulating 1998 pennies. That’s how the 1998 Wide AM penny came to be!
Most 1998 pennies that you’ll find in circulation bear the normal Close AM reverse, but a small number can be found with the Wide AM variety.
There are several Close AM and Wide AM varieties among Lincoln cents from the 1992 through 2000 era — with the 1998 being the second scarcest of the Wide AM pennies.
Here’s how much they’re worth:
- A 1998 Wide AM penny is worth around $10 in circulated condition.
- Uncirculated specimens sell for $15 to $25 and up.
- The most valuable 1998 Wide AM penny was graded MS67RD by Professional Coin Grading Service and sold for $940 in 2014.
1998 Doubled Die Penny Error
There are few varieties that are as well known as the doubled die. It’s a rare, valuable type of error variety that shows the unintentional doubling of various elements of a coin. The doubling is generally seen on just one side of the coin.
Most 1998 doubled die pennies show relatively minor doubling and requires good magnification to really see. It’s usually confined to a small part of the coin — such as some of the lettering, Lincoln’s eye, bowtie, or the columns of the Lincoln Memorial.
Here’s how much they’re worth:
- A 1998 doubled die penny with obscure doubling might bring $20 to $50.
1998 Off-Center Penny Error
Off-center pennies are neat collectibles. They usually occur when either die dies are misaligned or a blank coin isn’t properly seated on the presses.
Off-center errors can range from being slightly askew — maybe 1% to 3% off-center to missing 50% or more of its design.
Here’s how much they’re worth:
- A 1998 penny that’s 5% to 10% off-center might fetch $7 to $15.
- A 1998 penny that is 50% off center but still shows a complete date can command $50 to $100… or more!
1998 BIE Penny Error
This variety is unique to Lincoln pennies. It shows a minor vertical die crack between the letters “B” and “E” of “LIBERTY” on the obverse.
BIE pennies are sought after by error collectors and Lincoln penny enthusiasts.
Here’s how much they’re worth:
- A 1998 BIE penny with a nicely formed “I” die break might fetch $10 to $15.
READ NEXT: The Ultimate List Of U.S. Error Coins
I’m the Coin Editor here at TheFunTimesGuide. My love for coins began when I was 11 years old. I primarily collect and study U.S. coins produced during the 20th century.
I’m a member of the American Numismatic Association (ANA) and the Numismatic Literary Guild (NLG) and have won multiple awards from the NLG for my work as a coin journalist. I’m also the editor at the Florida United Numismatists Club (FUN Topics magazine), and author of Images of America: The United States Mint in Philadelphia (a book that explores the colorful history of the Philadelphia Mint). I’ve contributed hundreds of articles for various coin publications including COINage, The Numismatist, Numismatic News, Coin Dealer Newsletter, Coin Values, and CoinWeek.
I’ve authored nearly 1,000 articles here at The Fun Times Guide to Coins (many of them with over 50K shares), and I welcome your coin questions in the comments below!
