The value of a 1988 Lincoln penny for the average condition is about one cent and in mint state can be one dollar. The 1988 Memorail penny is made in large numbers and can easily be found as pocket changes. In uncirculated conditions, they can be of high value. Let’s get started with 1988 Penny Value.
1988 Penny Value Chart
| Mint Mark | Good | Extremely Fine | Mint State | PR 68 |
| 1988 (P) No Mint Mark Penny Value | $0.01 | $0.02 | $0.33 | -$10 + |
| 1988-S Penny Value | $0.01 | $5 – $10 | $20 – $30 | $10 + |
| 1988-D Penny Value | $0.01 | $0.05 – $0.10 | $1 – $10 | $30 + |
History Of 1988 Penny
The USA Mint made Lincoln pennies first time in 1909 at the 100th birthday of Lincoln’s president. The desing of these coins made by Victor D. Brenner had a photo president on the front side and back two wheat stalks were added. This desing of pennies was used until 1958 and in 1959 new design or reverse side was replaced with the Lincoln Memorial on its 150th birthday. This design also has a small Lincoln statue between two middle pillars. That is the first USA coin that has the original man’s photo on both sides. The 1988 Lincoln penny is part of the Memorial series but has different composition coins made before 1982. In 1982 composition changed to copper-plated zinc for pennies due to high copper prices and it is still used. There were total of 11,441,540,059 pennies made in 1988 out of them 6,092,810,000 are No mint mark pennies, 1988 proof penny 3,262,948, and 1988 D pennies 5,345,467,111.
Features Of 1988 Penny
Obverse Of 1988 Penny
The front side design was made by Victor Brenner having a photo of Abraham Lincoln. The designer’s initials DVB are also on this side. The motto IN GOD WE TRUST is also added there with the word LIBERTY. The designer added the minting date 1988 and a mint mark also exists on this side for S and D-minted coins.
Reverse Of 1988 Penny
Frank Gasparo made the reverse design of these pennies in 1959 and added the Lincoln Memorial situated in Washington DC. On this building, we can also see a photo of Lincoln between two pillars. Initials of designers FG are also on this side. The country’s name is UNITED STATES of AMERICA and the emblem E PLURIBUS UNUM is on this side. The ONE CENT denomination also exists on the reverse side.
Some other features of the 1988 Lincoln Memorial penny are
- its face value is about one cent and its diameter is 0.750 inches
- It has a round shape with the composition of Copper-plated zinc (97.5% Zn, 2.5% Cu) and a plain edge
- its thickness is 0.03937 inches and its weight is 0.08818 ounces.
- 1988 penny does not have tin material
1988 No Mint Mark Penny Value
6,092,810,000 coins with no mint mark made in 1988. Philadelphia Mint made these coins and a large number made the other two mints. More than 6 billion pennies are made so they are common and easily accessible. The cost of a 1988 no-mint mark penny is from one cent to 10 dollars and is high for good condition.
- MS 60 to MS 62 value=$0.10 to $0.20
- RD MS 63 grade=$0.20
- RD MS 64 grade=$0.30
- RD MS 65 grade = $0.40
- RD MS 66 grade =$2.45
- RD MS 67 grade = $17
1988 D Mint Mark Penny Value
The Denver Mint made 5,253,740,443 pennies with the D mint mark in 1988. PCGS sold MS68 RD coins in 2007 for 1495 dollars.
MS69 RD grade sold for $4,500.
1988 S Mint Mark Penny Value
The S mint made proof coins in 1988. There were more than 2 million coins made which is less than the other two minted coins. its normal value is face value and can be 30 dollars in perfect conditon. About 3,262,948 coins were made by S mint.
- red DCAM proof PR 60 to PR 63 = $0.18
- PR64 red DCAM proof =0.25 dollars
- There are high values of PR 65 to PR 66=$1 to $4
- 1988 S red DCAM PR69 sold for five dollars.
- proofs PR 70 grade with DCAM=$1,438
Rare 1988 Penny Errors List
1988 P & D Penny With Reverse Of 1989
The use of different dies in two minting years 1988 pennies come with different designs. In this conditon, it occurs that the front die is paired with the back die used for the next or previous years. These coins are known for transitional error. In 1988 many pennies of D mint and P mint got accurate obverse paired with 1989 reverse. These coins with a D mint mark are rare and of high value. The designer’s initials are in 1988 cents with 1989 reverse.
1988 Penny DDO Doubled-Ear Error
DDO or double die obverse occurs when the hub strike dies many times to make sure accurate details. But if the die moves between the striking process can cause a doubling or tripling effect that shifts to coins striking with the die. This DDO has a visible doubling effect on Lincoln’s earlobe. In MS 66 RD, sold for $3,120 for 2021.
1988 Penny Off-Center
If the planchet is not configured accurately with dies the coins come with off-center. It is not easily visible or can be seen based on strike error. The coins with a flat structure can have off-center error. Normally fifty to sixty percent off center with clear mint mark and date is high value
Re-Punched Mint Mark Error
In 1988 the mint mark punched manually making process face errors. In some conditions letter punch used to hit the mint mark in working dies makes two or more marks. It can occur due to 2nd repositioning of the mint mark. In pennies from 1988, this error exists for D-mint mark pennies
Reverse Of ‘89 Transitional Error
This error occurs when coin design, font, or composition is changed such as steel/copper in 1942 or bronze/zinc in 1982. It results in coins by mistake made with different designs. In 1989 reverse design changed so in 1988 pennies pennies having 1989 reverse is called transitional error sold for 150 dollars for MS64 RD grade.
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Faqs
What 1988 pennies are worth money?
Is There 1988 Error Penny?
Many errors exist on the 1988 penny. These die cracks, double dies, Re-Punched Mint Mark Error, and off-center errors.
Is The 1988-D Penny Rare?
The 1988 D penny is not rare since a large number of more than 11 billion coins were made. The error D coins can be of high value about hundreds of dollars.
Which 1988 Penny is most valueable?
- 1988 RD penny in MS 69 = $7,040 SOld in May 2021
- 1988 RD penny in MS 66 grade =$3,120 SOld in April 2020
- 1988 D RD penny in MS 67 grade = $2,600 Sold in April 2023
- 1988 BN penny in MS 66 grade= $1,950 sold in January 2023
- 1988 BN penny in PO1 =$650 sold in September 2018
- 1988 D RB penny in MS 63 = $550 sold in 2021
- 1988 RB penny in MS 64 = $250 sold in March 2021
- 1988 D RD penny in MS 68 =$1,495 sold in November 2007
- 1988 DCAM penny in PR 70 =$1,438 sold in January 2004
- 1988 RD penny in MS 66 =$890 sold in July 2023
- 1988 RB penny in MS 65 = $661 sold in February 2002
- 1988 D BN penny in MS 63 = $129 sold in April 2023
- 1988 D RB penny in MS 64 = $5 sold in May 2023
What is the value of the 1988 Philadelphia Penny?
The no-mint mark of 1988 pennies in circulated condition is one cent. MS68 grade value is 120 dollars. MS69 grade coin sold for $7,040 in Auction.
What Are most valuable Lincoln Penny?
- 1999 MS 66 Memorial reverse cent = $138,000
- 1969 MS 64 S Memorial reverse cent with DDO = $126,500
- 1959 MS 60 D Memorial reverse cent= $48,300
- 1944 S Wheat reverse steel cent (MS 66 grade) = $408,000
- 1943 (MS 64 grade) D brown Wheat reverse bronze cent with wrong planchet error = $840,000
- 1943 S brown Wheat reverse bronze cent (MS 63 grade) = $504,000