1988 Lincoln Penny Value (D, S, No Mint Mark & Errors Worth)

Did you know your old 1988 Lincoln penny with Lincoln Memorial reverse can sell for up to $7,000 today? That’s right! This small cent exhibits rare features including high-grade finish, unique mint marks, and rare errors that make it worth the money!

So, scroll down this price guide to learn how to spot these rare features and assess your old 1988 penny value now!

How to Spot a Real 1988 Lincoln Memorial Penny (Design & Features)

The first step to assessing a 1988 Lincoln cent value is to identify its design, composition, and size to authenticate the coin. Here’s a breakdown of these specific details:

1988 Lincoln Cent Obverse:

• A right-facing portrait of Abraham Lincoln
• ‘IN GOD WE TRUST’ on the top
• ‘LIBERTY’ in compact kerning to Lincoln’s left
• The mint date ‘1988’ on the lower right side
• The mint mark “D” or “S” (if present) below the mint date

1988 Lincoln Cent Reverse:

• The Lincoln Memorial (Washington, DC) with 12 columns, steps, and plinth at the center
• ‘UNITED STATES OF AMERICA’ on the top along the edge
• The national US motto, ‘E PLURIBUS UNUM,’ above the hall
• The denomination ‘ONE CENT,’ at the bottom
• Initials “FG” to the right of the staircase

1988 Lincoln Penny Composition, Weight & Size

Following the new coin composition commenced in 1982, the 1988 Lincoln cent was made of copper-plated zinc with new weight and size as follows:

Finding a 1988 Lincoln Penny Value (4 Key Factors)

The average value of a 1988 penny in a circulated state ranges from its face value to a dollar or so. However, in an uncirculated state, it can fetch $5 to $1,000, depending on factors, like coin grades, unique mint marks, proof finish, and rare errors.

1. Coin Grades and Color

Coin grades, which is a professional method of assessing a coin’s condition, are the first and the most important factors impacting your 1988 penny value! These grades range from Poor, P-1 to Mint State, MS-70, in which higher numbers indicate a flawless coin with minimum damage.

A 1988 Lincoln Memorial Cent in circulated grades typically trades for its face value to $0.25. Uncirculated pieces in MS-60 through MS-68 can range from $0.50 to $500, with higher examples like MS69 and above reaching up to $5,000 or more, like this rare MS69 example sold for $7,040 on eBay!

Another aspect of the coin’s condition, its color also plays a vital role in determining value.

• Red (RD) Pennies (with at least 95% of original red color): Red 1988 pennies can command the highest premiums, reaching up to $500 to $1,500 or more in high mint state!

• Red-Brown (RB) Pennies (with 5% to 94% of original color): Red-brown 1988 pennies sell for about half the price of the red 1988 pennies, often ranging from $5 to $150 in mint state!

• Brown (BN) Pennies (Less than 5% of original color): Most common and, hence, least valuable, Brown 1988 pennies often fetch only a few dollars unless they have a rare error.

2. 1988 Lincoln Penny Mint Marks

The 1988 Lincoln Penny was produced at three facilities, each with a different mint mark and mintage number, influencing its rarity and value:

1988 No Mint Mark Penny (Mintage – 6,092,810,000)

Due to the highest mintage, a 1988 no mint mark penny fetched average values, often ranging from $6 to $500 in MS62 to MS68. The highest 1988 no mint mark Lincoln cent sold for an auction record price of over $7,000 in MS69 grade!

• MS-60-MS-63: $0.50 to $2
• MS-64: $2 to $5
• MS-65: $6 to $10
• MS-66: $6 to $10
• MS-67: $12 to $30
• MS-68: $80 to $500+
• MS-69: $7,000+

1988 D Lincoln Penny (Mintage – 5,253,740,443)

Despite lower mintage than the 1988 P Lincoln cent, the 1988 D penny also trades for average values of $6 to $400 in grades MS65 to MS68. Here’s a breakdown of values based on grades.

• MS-60 to MS-63: $0.50 to $2
• MS-64: $3 to $5
• MS-65: $6 to $10
• MS-66: $6 to $16
• MS-67: $15 to $35
• MS-68: $60 to $350

The highest price of a 1988 D Lincoln cent was almost $1,500, released on Heritage Auctions!

1988 S Penny Proof (Mintage – 3,262,948)

All of the 1988 Lincoln cents produced at the San Francisco Mint were proof cents, identified by their unique S mint mark and highly reflective surface and frosted devices.

A regular or Standard 1988 penny proof coin generally fetch $5 to $50 in PR65 to PR68. On the other hand, Deep Cameo (strong contrast between raised devices and mirrored fields) ranges from $10 in PR-65 to over $50 in PR-70DCAM, with particularly stunning examples sometimes exceeding $150.

The estimated price range of a 1988 DCAM-proof penny is as follows:

• PR67-PR67+: $3-$7
• PR68-PR68+: $7-$12
• PR69: $10-$25
• PR70: $55-$155

3. 1988 Lincoln Penny Errors

The 1988 Lincoln Penny is a stunning example of several minting errors, which can significantly increase its value. Some of these notable 1988 penny errors are:

Struck On 1988-P Dime

This rarest 1988 penny error happens when the penny design is struck over a 1988-p Dime coin. You can easily spot this by its size and color as well as overlapping designs on the coin.

Being extremely rare, a 1988 Lincoln penny struck on a 1988-P dime can fetch up to $1,000 or more, like this MS66 example sold for almost $1,100 on Heritage Auctions!

Flared G Error

One of the most interesting varieties found on 1988 Lincoln cents is the “Flared G” error in Frank Gasparro’s “FG” initials on the coin’s reverse. It shows a distinct flaring or spreading of the “G” initial, making it appear larger and more prominent than normal.

Found primarily on Philadelphia Mint issues, these varieties typically command a premium of $5-$25 in circulated condition, while uncirculated Red examples can bring $50-$200 depending on the strength of the variety and overall grade.

Double Die Obverse Error

This error shows a distinct doubling on the 1988 penny obverse, possibly in Lincoln’s ear area (called Double Ear error), mint date, “Liberty,” and “In God We Trust.”

One of the most expensive DDO examples is this MS66 Red example sold for a whopping $3,120 at Heritage Auctions. Generally, DDO 1988 Lincoln pennies can bring $50-$200 depending on the strength of the doubling and overall condition!

Unplated Planchet and Partial Plating Errors

These 1988 penny errors occur when the zinc core is either completely or partially missing its copper coating, resulting in a full or partial silver color. Fully unplated examples typically sell for $50-$150, while partial plating errors can range from $25-$100 depending on the extent and pattern of missing plating.

Struck on Clad Dime

This error is among the most valuable of all 1988 penny errors, occurring when a penny design is struck on a clad dime planchet. You can spot them by their distinct composition, silver color, reduced weight, and smaller size.

This dramatic error coin can bring $400 to $500 in average condition, like this MS65 example bought for $470 in a coin auction!

Broadstrike Errors

A broadstrike happens when a 1988 penny is struck outside their collar, resulting in a wider, thinner penny. The value of this error penny can range from $25-$100 depending on the extent of spread and preservation.

Cud Error

Cud error happens when a piece of obverse or reverse die breaks off, creating a blob of metal on the surface. Depending on the size of cud and the coin’s overall condition, a 1988 penny with cud error can sell for $20 to $500.

Brockage Obverse Errors

This error shows a raised incuse mirror image of the obverse design. Depending on the condition, you can expect these pennies to sell for $20 to $100.