A 1998 Lincoln Memorial cent—once thought to be just another penny in pocket change—has stunned the coin-collecting world. At a recent auction, it sold for $5 million, making it the most valuable modern U.S. cent ever recorded.
Why This 1998 Penny Is Worth Millions
- “LIBERTY” Mint Error: The letters appear broken, doubled, or incomplete—a dramatic strike flaw never before documented.
- Perfect MS-70 Red Grade: PCGS certified it in flawless condition, with brilliant, mirror-like red surfaces.
- Unique Provenance: Believed to be a secret experimental test strike that mistakenly entered circulation.
- One-of-a-Kind: To date, this is the only known example of its kind.
Auction Highlights
- Fierce Bidding War: Five elite collectors competed for 8 minutes.
- Final Price: $5,000,000—$3M above pre-sale estimates.
- Buyer: An anonymous tech billionaire, who will keep the coin in a private collection.
Estimated Value by Grade
| Grade | Value Estimate |
|---|---|
| MS-70 RD | $4M – $6M |
| MS-69 RD | $1M – $2M |
| MS-68 RD | $500K – $800K |
How to Spot the 1998 “LIBERTY” Error Cent
- Check the Date: Must read 1998.
- Look at “LIBERTY”: Letters may appear broken, faint, or doubled.
- Surface Condition: Rare examples have a brilliant red finish with zero contact marks.
Where These Rare Pennies Might Be Found
- 1998 Mint Sets — especially unopened ones.
- Estate collections from the late 1990s.
- Unsearched bank rolls from 1998.
- Coin dealers near the Philadelphia Mint region.
What To Do If You Find One
- Handle With Care: Use cotton gloves; never touch directly.
- Protect Immediately: Place in an archival coin holder.
- Contact PCGS or NGC: For authentication and grading.
- Insure & Secure: Consider private insurance and safe storage.
“This redefines what’s possible in modern U.S. coin errors—we may never see another like it.”
— David Hall, Founder of PCGS
Collector’s Note: Most 1998 pennies are worth face value, but this single discovery proves lightning can strike even in modern change. Always check your coins—you never know when you’re holding a hidden fortune.
