The 1998 Lincoln cent looks like any other modern penny at first glance.
The United States Mint struck billions of pennies in 1998 for daily pocket change.
These modern cents use a zinc core plated with a thin outer layer of pure copper.
Normal business-strike pennies from 1998 were supposed to be made with a "Wide AM" reverse design.
A few working dies intended for proof pennies were accidentally used to strike regular coins instead.
This design mix-up created the rare 1998 Close AM variety.
Collectors search through boxes of pocket change looking for this specific transitional error.
The "RD" designation stands for Red, meaning the copper surface still retains its bright original mint shine.
An exceptional example of the 1998 Close AM penny sold through EA auctions.
The coin crossed the auction block with a final sale record listed at 11/20.
Professional grading services certified this top-tier coin at a remarkable Grade 69 Red.
On the standard 70-point coin grading scale, a 69 is virtually flawless.
A coin at this level shows almost no contact marks, hairline scratches, or carbon spots even under strong magnification.
Top-grade survivors represent the absolute peak of condition for modern transitional varieties.
You should keep in mind that typical pocket change finds will not reach this certified auction level.
The value of this modern cent comes down to die variety scarcity paired with near-perfect preservation.
Proof dies have tiny design differences compared to standard business-strike dies.
The Mint quickly noticed and corrected the mistake, so very few Close AM dies struck coins for circulation in 1998.
Most examples that entered circulation quickly picked up scratches, dings, and surface corrosion.
Finding an error coin that escaped circulation entirely is unusual.
Finding one preserved well enough to earn a Grade 69 makes it a true condition rarity.
Lincoln cent enthusiasts compete aggressively to own the finest known examples for their registry sets.
Intense competition among specialized variety collectors drives prices up whenever a top specimen appears.
You need to check the reverse side of the penny under good lighting.
Use a 5x or 10x jeweler's loupe to inspect the word "AMERICA" closely.
Look at the letters "A" and "M" at the top right of the design.
On the rare Close AM variety, the bottom right leg of the "A" touches or nearly touches the bottom left leg of the "M".
On the standard 1998 penny, there is a clear and distinct gap between those two letters.
You can also check the designer initials "FG" located near the bottom of the Lincoln Memorial building.
On the Close AM variety, the letters "FG" sit farther away from the base of the Memorial.
On the common Wide AM penny, the initials sit much closer to the building.
If you want a fast way to scan your spare change, Coin Value Checker can help you do an initial check on your phone.
Do not confuse this coin with the 1992 Close AM, which is a different variety with its own set of diagnostic markers.
If you spot touching "AM" letters on a 1998 penny, protect the coin in a soft holder and consider having a professional grading service authenticate it.
The low-effort option is a scanning tool — see this comparison of every coin valuation app worth trying.