1988 Lincoln Penny: Value, Double Ear, and Wide AM Guide

A penny from 1988 is a coin that is not exactly old or modern. Like many modern pieces, it has a few varieties, and like old pieces, it has a few errors. All of them are different in values.

How much is a 1988 penny worth? Discover rare varieties and errors this piece comes with!

Identify the coins in your collection in the comfort of your home, with a mobile app.

Lincoln Penny Design

The 1988 Lincoln penny (officially the Lincoln cent) is part of the long-running series of U.S. one-cent coins featuring President Abraham Lincoln on the obverse (front). 

The reverse was more varied, from wheat stalks on examples like the 1953 Wheat penny to the Memorial design seen on the 1988 cent.

Obverse: A right-facing bust of Abraham Lincoln, designed by Victor David Brenner. You’ll see the inscription “IN GOD WE TRUST” across the top rim, and “LIBERTY” to the left of Lincoln. The date “1988” is to the right of Lincoln.

Reverse: The Lincoln Memorial, designed by Frank Gasparro, was introduced in 1959. You can see a tiny seated statue of Lincoln in the center of the memorial if viewed closely. There are inscriptions “UNITED STATES OF AMERICA” across the top, and “E PLURIBUS UNUM” just above the Lincoln Memorial. The denomination “ONE CENT” is across the bottom.

Lincoln Penny Overview

Lincoln Penny 1988 Varieties

The 1988 Lincoln penny has three primary mint mark varieties, depending on where it was struck:

• 1988 (No Mint Mark) from the Philadelphia Mint.

• 1988-D (D Mint Mark) from the Denver Mint.

• 1988-S (S Mint Mark) from the San Francisco Mint.

All mint facilities had a different mintage, not only in quantity, but also in quality, which influences the price.

1988 Penny No Mint Mark Value

How to identify: There's a blank space under the date (obverse).

Mintage: 6,092,810,000.

Estimated Value: $0.01 – $14. 1988 penny value no mint mark is usually low.

1988 no mint mark penny is the most common variety. On one hand, it means you can get such a penny easily. On the other hand, it means the coin is not that rare.

1988 D Penny Value

How to identify: There's a D mint mark under the date (obverse).

Mintage: 5,253,740,443.

Estimated Value: $0.10 – $10+.

For some time, the Denver Mint had the biggest mintage for Lincoln pieces, back in the 60’s with the 1962 Lincoln penny. In the 90s, the Denver mint started having a slightly smaller mintage.

1988 S Penny Value

How to identify: There's an S Mint mark under the date (obverse).

Mintage: 3,262,948.

Estimated Value: $1 – $14+. 1962 proof penny value is the highest compared to other varieties, at least for lower grades.

S-pennies had the smallest mintage. They were not made for circulation, and instead were usually given as collectible gifts.

Penny Grading

Collectors look mostly for rarity. And a high-quality coin state + presence of errors make up rarity.

First, let's look into the coin state, determined by grading. Cons are graded on the Sheldon scale from 1 to 70, where 1 describes a piece of very poor quality, very worn, and 70 describes a perfectly preserved, detailed example.

1988 Penny Error List

Coins with errors have always shown a reasonable value, especially if they also come in high grades. This error list will show some of the most important errors to look for.

1988 Double Die Penny / 1988 Double Ear Penny

Look for: A clear second earlobe just behind or below the first.

Estimated value: $100 – $250+.

Error cause: The die shifted slightly between impressions, resulting in doubling on the die.

The Double Ear belongs to the doubled die error category. Usually, when people talk about double die errors for this coin they mean the ear doubling. This error is tricky to see, but very valuable. Use collecting supplies like a loupe and check your piece thoroughly.

1988 Repunched Mint Mark (RPM) 

Look for: Doubling, usually below, to the side, or above the main mint mark.

Estimated value: $30 – $60.

Error cause: The mint mark was stamped more than once into the working die, but misaligned between strikes.

During that time, the marks were stamped manually, which created errors. Such an error often appears on a 1988 D penny error list with pictures because only D-pennies had this flaw. S-cents were made with better care, being proof.

1988 Wide AM

Look for: "A" and "M" in “AMERICA” are spaced far too much. 

Estimated value: $600 – $1,000+.

Error cause: A proof reverse die (from the 1989 design) was mistakenly used for a business strike.

The 1988 penny wide AM value is one of the highest in the list. It’s a rare 1988 penny error, but also encountered a 1999 wide AM penny.

1988 Flared G Penny

Look for: Has a longer, flared, or curved tail on the “G”.

Estimated value: $200 – $1,500+.

Error cause: Some 1988 coins were struck using a reverse die intended for proof coins (from 1989), which featured a redesigned "G.

The 1988 Flared G refers to a style difference in the designer's initials "FG" (for Frank Gasparro), which appear to the right of the Lincoln Memorial on the reverse of the coin. You might even argue it’s not a mistake and rather a design variety, but the fact remains that it’s not a normal coin.

1988 Penny Value

Now we know everything about the value of the 1988 cent. The only thing left is to compile the value in one convenient table.

Interestingly, S-pennies fall off dramatically in value on higher grades. All because S-pennies are proofs. All of them are in high grades, making them very common compared to high-grade circulated Philadelphia and Denver pieces.

Coins ID Scanner

Coin ID Scanner is your guide to coin collecting. The app can scan almost any piece and identify it for you in a second.

Here are some of the main features of the app:

• Image Recognition: Snap or upload coin photos and get instant ID results from a database of over 150,000 coins.

• Global Coverage: Supports a wide variety of world coins, including ancient and modern.

• Collection Management: Save coins to your digital collection with history, images, and values.

• Numismatic Guidance: Offers grading help, mint mark insights, and coin background information.

Coin ID Scanner is free to download on iOS and Android.

FAQs

Related Coin Value Guides:

• Lincoln Wheat Penny Coin Value
• 1953 Steel Wheat Penny Coin Value
• 1940 Wheat Penny Coin Value
• 1926 Wheat Penny Coin Value
• 1956 Penny Coin Value
• Double Die Pennies Coins Value