Most people view the 1988 Lincoln Cent as a common coin destined for a glass jar, but for savvy collectors and “Variety Errors” fans, this year holds significant profit potential. While a standard circulated 1988 penny is only worth its face value of 1 cent, specific condition rarities and a famous transitional error can drive the price into the thousands.
How Much Is a 1988 Penny Worth?
The value of a 1988 penny is determined by two main factors: Grade and Variety.
Condition Rarities: Most 1988 pennies were minted in high numbers, but finding one in “Superb Gem” condition (MS68 or MS69) is nearly impossible. A 1988 Philadelphia MS69 Red recently shattered records, selling for $5,906.00.
The Transitional Error: The most famous variety is the 1988 “Flared G” (Reverse of 1989). This occurs when a 1988 penny was struck with a reverse die intended for the following year. In high grades, this variety can easily fetch over $1,000.00.
Watch this video on 1988 Varieties:
Year/Mint/Variety | Grade/Quality | Recent Auction Price |
1988 Philadelphia | MS69 Red (Top Pop) | $5,906.00 |
1988 Philadelphia | MS68 Red | $1,320.00 |
1988-D Denver | MS68 Red | $139.00 |
1988 FS-901 “Flared G” | High Grade Mint State | $1,000.00+ |
1988 Circulated | Average Pocket Change | 1 Cent |
Identifying the 1988 “Flared G” Error (FS-901)
The major variety for this year is the Transitional Reverse of 1989. This is a “Wrong Design” error where the reverse die features characteristics not officially adopted until 1989.
How to spot it:
The Designer’s Initials (FG): Look closely at the “FG” near the Lincoln Memorial. On the rare variety, the “G” has a distinct serif (flare) on the vertical bar.
Wide AM: The “A” and “M” in AMERICA will have a slightly wider gap compared to the standard 1988 strike.
Expert Tip: I have a dedicated video embedded below that covers these diagnostics in high-definition detail so you know exactly what to look for under your microscope!
Are 1988 Pennies Rare?
In terms of mintage, no—billions were produced. However, 1988 Zinc pennies are prone to “zinc rot” and spotting, making high-grade “Red” (RD) examples exceptionally rare. If you find a 1988 penny that looks like it just came off the press with no spots or scratches, it is worth sending to a grading service like PCGS or NGC.
VarietyErrors
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