1998-S Close AM Lincoln Penny Value and What It Could Be Worth Today
The 1998-S Close AM Lincoln Penny is one of those fascinating coins that most people overlook — but in certified proof condition, it can be worth anywhere from $5 to over $50, with top-grade examples occasionally fetching even more among serious collectors.
If you recently found one of these pennies or came across it in an old collection, you’re in the right place. Using a free coin identifier app is a great first step to figure out exactly what you have before diving deeper into its value. Keep reading to learn everything you need to know about the 1998-S Close AM Lincoln Penny.
What Makes the 1998-S Close AM Penny Special
The “S” in 1998-S tells you this coin was minted at the San Francisco Mint, which primarily struck proof coins for collector sets — not for everyday circulation. So if you find one of these, it likely came from a proof set rather than a cash register.
The “Close AM” part is where things get interesting. Take a close look at the word “AMERICA” on the reverse of the coin. On a Close AM variety, the letters “A” and “M” in AMERICA are nearly touching or very close together. On the standard Wide AM version, there’s a noticeable gap between those two letters.
For the 1998-S, the Close AM design is actually the normal, expected variety for proof coins. That’s because the Close AM hub was standard for San Francisco proof issues during this era. So while it’s not a rare error in the same dramatic sense as some coins, it’s still a collectible variety that coin enthusiasts specifically seek out — especially when paired with strong proof quality and deep cameo contrast.
How Much Is the 1998-S Close AM Penny Worth?
Value depends heavily on grade and condition. Since this coin was made as a proof, it should have sharp details, mirror-like fields, and frosted devices. The better the contrast and the fewer the contact marks, the higher the grade — and the higher the price.
Here’s a general value breakdown:
| Grade | Estimated Value |
|---|---|
| PR-65 | $5 – $10 |
| PR-67 | $10 – $20 |
| PR-69 Deep Cameo | $30 – $60+ |
| PR-70 Deep Cameo | $75 – $150+ |
For more detailed pricing data, you can check out current 1998 Lincoln Penny price listings by grade and condition to see how the market is trending right now.
How to Tell If You Have a Close AM or Wide AM
You don’t need a magnifying glass powerful enough to see atoms — a simple loupe or even a phone camera zoomed in will do the trick. Flip your penny to the reverse and look at the bottom of “AMERICA” near the Lincoln Memorial.
– Close AM: The bottoms of the “A” and “M” are nearly touching or slightly overlapping
– Wide AM: There is a clear, distinct gap between the “A” and “M”
For the 1998-S proof coin, you’re most likely looking at a Close AM — which is the correct, intended design. But it’s always worth double-checking, especially if you’re sorting through a proof set or an inherited coin collection.
If you want to make this identification process faster and more accurate, CoinKnow is a fantastic tool that helps you identify coin varieties, check mint marks, and get instant value estimates right from your phone.
Where to Find the Value and Sell Your 1998-S Close AM Penny
Once you’ve confirmed your coin’s variety and grade, the next step is figuring out its real market value. Prices can shift based on collector demand, recent auction results, and the overall numismatic market.
A great place to start your research is this comprehensive guide to 1998 penny values and varieties, which breaks down pricing across different conditions and explains what factors push the value higher.
You can also look at platforms like eBay’s “Sold Listings” to see what buyers actually paid recently — not just what sellers are asking. PCGS and NGC population reports will tell you how many coins exist at each grade level, which gives you a sense of rarity at the top end.
When it comes to selling, options include local coin dealers, coin shows, online auctions, and collector forums. For a certified high-grade example like a PR-69 or PR-70 Deep Cameo, a reputable auction house or online collector marketplace will typically bring the best results.
CoinKnow can also help you track recent sales and compare prices across multiple platforms, saving you hours of manual research.
Tips for Protecting Your 1998-S Close AM Penny
If you think you have a valuable proof coin, handle it carefully. Hold it by the edges only — fingerprints on the mirrored surface can permanently reduce its grade and value. Store it in an airtight coin flip or hard plastic holder, away from humidity and direct sunlight.
If you’re considering professional grading through PCGS or NGC, it’s worth the investment for any coin you believe grades PR-68 or higher. Certified coins are easier to sell, carry more buyer confidence, and typically command higher prices at auction.
And if you’re not sure whether grading fees are worth it for your specific coin, CoinKnow can give you a quick ballpark value estimate so you can make a smarter decision before spending money on submission.
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Frequently Asked Questions
Q: Is the 1998-S Close AM penny rare?
A: Not particularly rare in lower proof grades, since it was the standard design for San Francisco proof sets. However, coins grading PR-69 Deep Cameo or PR-70 are genuinely scarce and can be worth $50 to $150 or more.
Q: Can I find a 1998-S Close AM penny in circulation?
A: It’s very unlikely. The “S” mint mark means it was made in San Francisco specifically for proof collector sets. If you find one, it almost certainly came from a proof set that was broken up at some point.
Q: How do I know if my 1998-S penny is genuinely a Close AM variety?
A: Look at the letters “A” and “M” in “AMERICA” on the reverse. If they appear nearly touching or very close at the base, you have a Close AM. For the 1998-S proof, this is the expected variety — but confirming it is always a smart move before buying or selling.
