The 1998 Wide AM penny is a fascinating example of how seemingly ordinary coins can become valuable treasures for collectors. This specific variety of the Lincoln Memorial Cent is known for a subtle yet significant design difference, which has propelled its worth to as much as $12,000. If you’re curious about what makes the 1998 Wide AM penny so special and how to spot one, this guide covers every detail you need to know.
What Is the 1998 Wide AM Penny?
The term “Wide AM” refers to the spacing between the “A” and “M” in the word “AMERICA” on the reverse side of the Lincoln Memorial Cent. Typically, pennies from 1998 were minted with a “Close AM” design. However, a small number of coins were mistakenly struck using a proof die, which has a wider spacing between these two letters. This rare variety is what collectors call the “1998 Wide AM penny.”
Why Is the 1998 Wide AM Penny Valuable?
The rarity of the Wide AM design is the primary reason for its high value. Here’s why collectors are willing to pay thousands of dollars for this coin:
- Minting Error: The 1998 Wide AM pennies were accidentally struck with a proof die, which is not meant for circulation coins.
- Scarcity: Only a limited number of these coins were produced, making them highly sought after by collectors.
- High-Grade Condition: The better the condition of the coin, the higher its value. Coins graded MS65 or above fetch premium prices.
How to Identify a 1998 Wide AM Penny
Identifying a 1998 Wide AM penny requires close observation of the coin’s reverse side. Here’s what to look for:
- AM Spacing: Use a magnifying glass to check the spacing between the “A” and “M” in “AMERICA.” In a Wide AM penny, there is a clear gap between the two letters.
- Proof Die Features: Look for sharper and more defined details on the reverse design, which are characteristic of proof coins.
- Mint Mark: Ensure the coin is from the Philadelphia mint (no mint mark), as Wide AM varieties have been found on these coins.
Value Breakdown of the 1998 Wide AM Penny
The value of the 1998 Wide AM penny depends on its condition and grade. Below is a table summarizing its estimated value:
| Condition/Grade | Description | Estimated Value |
|---|---|---|
| Circulated (VG to XF) | Visible wear and tear | $20-$100 |
| Uncirculated (MS60-MS64) | Minimal signs of handling | $500-$1,500 |
| Mint-State (MS65+) | Brilliant, uncirculated condition | $3,000-$12,000 |
| Proof Die Error | Wide AM confirmed with sharp details | $8,000-$12,000+ |
Recent Auctions and Sales
One of the highest recorded sales of a 1998 Wide AM penny was $12,000, sold at a major coin auction. This coin was graded MS67 by a professional grading service, highlighting the importance of condition when determining value.
How to Sell Your 1998 Wide AM Penny
If you believe you own a 1998 Wide AM penny, here’s how to proceed:
- Get It Graded: Submit your coin to a professional grading service like PCGS or NGC to authenticate and grade its condition.
- Choose a Selling Platform: You can list your coin on online marketplaces like eBay, use auction sites like Heritage Auctions, or visit a local coin dealer.
- Market Your Coin: Highlight its unique features, such as the Wide AM design and grading details, to attract serious buyers.
Conclusion
The 1998 Wide AM penny is a testament to the value of minting errors in the world of coin collecting. With prices reaching as high as $12,000, this rare coin could be hiding in your pocket change or old coin jar. By understanding what to look for and taking the necessary steps to authenticate and sell the coin, you could turn a common penny into a small fortune!
FAQs
What makes the 1998 Wide AM penny unique?
The 1998 Wide AM penny features a noticeable gap between the “A” and “M” in “AMERICA” on the reverse side, which is a rare minting error.
How can I tell if my penny is a Wide AM?
Use a magnifying glass to inspect the spacing between the “A” and “M” in “AMERICA.” A Wide AM penny will have a clear gap.
How much is a 1998 Wide AM penny worth?
Its value ranges from $20 for circulated coins to $12,000 for high-grade uncirculated examples.
Where can I sell a 1998 Wide AM penny?
You can sell it on platforms like eBay, at coin auctions, or through reputable coin dealers.
Should I get my 1998 Wide AM penny graded?
Yes, professional grading can authenticate its rarity and improve its market value.
