Have you ever checked your pocket change closely? You might want to start now. Some pennies, although they look completely normal, are worth far more than one cent. One of those hidden treasures is the 1998 Close AM Lincoln Penny. At first glance, it appears like any regular penny. But with a small design detail—hardly noticeable without close inspection—this coin becomes a rare collectible. Coin experts and collectors know this variation well, and some examples have sold for hundreds of dollars. So before you toss your change into a jar, take a moment. That little copper coin might be worth a lot more than you think.
Coin Name: 1998 Close AM Lincoln Penny
To understand the value of the 1998 Close AM penny, it helps to know a little about how U.S. coins are made. The Lincoln Memorial penny was produced from 1959 to 2008. On the back of these coins, in the word “AMERICA,” the spacing between the letters “A” and “M” can reveal something special. Normally, the pennies made for circulation in 1998 have a wider gap between the letters “A” and “M”—this is called the Wide AM variety. But in some rare cases, the Mint accidentally used the proof coin die (the stamp used to make coins) for regular circulation coins. This die had a Close AM design, where the two letters are nearly touching.
This is how the 1998 Close AM penny came into existence. It was a mint error, caused by mixing up dies intended for different coin types. As a result, only a small number of Close AM pennies from 1998 were ever released to the public. These are the pennies that collectors are eager to find.
Why Is the 198 Close AM Penny Valuable?
The 1998 Close AM penny is valuable for several reasons:
- It’s a minting error, which always attracts coin collectors.
- It’s hard to spot unless you know exactly what to look for.
- Only a limited number were made, increasing rarity.
- It may still be in circulation, meaning anyone could find one in everyday pocket change.
Even pennies in average condition with the Close AM variety can sell for $250 or more. High-grade uncirculated versions have sold for $500 to over $1,000 in auctions. Considering it’s still possible to find one in a coin roll or pocket change, it’s one of the most exciting modern U.S. coin finds.
How to Identify a 1998 Close AM Penny
If you want to check your 1998 pennies for this rare variation, follow these simple steps:
- Look at the back of the coin (reverse) – Focus on the word “AMERICA.”
- Check the spacing between the “A” and “M” – In the Close AM variety, the letters almost touch or are very close.
- Compare with another 1998 penny – Use a normal penny to see the difference between Wide AM and Close AM.
- Use a magnifying glass or phone zoom – The gap is small and hard to see with the naked eye.
- Get it verified – If you think you’ve found one, send it to a professional coin grading service like PCGS or NGC.
Table: Quick Facts – 1998 Close AM Penny
| Feature | Details |
|---|---|
| Coin Name | 1998 Close AM Lincoln Penny |
| Year | 1998 |
| Mint Location | Philadelphia (no mint mark) |
| Error Type | Proof reverse die on circulation coin |
| Letter Spacing | “A” and “M” in “AMERICA” are close |
| Estimated Value | $250 – $1,000+ |
| Collector Interest | High due to rarity and visibility |
The 1998 Close AM penny is a reminder that even everyday coins can hold great value. What seems like a normal one-cent piece may actually be a rare collector’s item. Because this error is subtle, it often goes unnoticed—yet that tiny detail between two letters can mean hundreds of dollars. Whether you’re a seasoned coin collector or just someone who likes to look through spare change, the 1998 Close AM penny is worth searching for. Who knows? The next time you clean out your wallet or find a coin on the ground, you might discover a rare gem hiding in plain sight.
FAQ’s:
Q1. What is the 1998 Close AM penny?
A1. It is a rare error penny from 1998 where the letters “A” and “M” in the word “AMERICA” on the reverse side are very close together. This was caused by the Mint using a proof die on regular circulation coins.
Q2. How much is a 1998 Close AM penny worth?
A2. The value depends on the coin’s condition, but most sell for $250 to $1,000 or more. Uncirculated examples in perfect shape may sell for even higher.
Q3. Can I still find a 1998 Close AM penny in circulation?
A3. Yes, though rare, these coins are still sometimes found in pocket change, old coin rolls, or jars at home.
Q4. What tools do I need to check for a Close AM?
A4. A basic magnifying glass or even a smartphone camera with zoom is enough to examine the letter spacing on the back of the coin.
Q5. Are other Close AM pennies known to exist?
A5. Yes, the 1999 and 2000 Close AM pennies are also known errors and are worth money too, but the 1998 version is one of the more valuable and earlier known examples.