Last Updated on June 14, 2022
The 1988 penny is also a Lincoln penny, and most of them are not valuable. The worth will mostly be the face value of these coins, but they might sell for higher, depending on the condition. If you have this penny and you want to know its market value, you are in the right place.
Here is everything you must know about the worth of a 1988 penny.
How Much Is A 1988 Penny Worth?
The 1988 penny is only worth its face value of $0.01 in a circulated condition. However, if you have this penny in uncirculated conditions, then the value might be slightly higher.
For example, the 1988 D penny and the penny with no mint mark are worth $0.30 in an uncirculated condition and a grade of MS65. On the other hand, the 1988 S proof penny in PR65 condition will be worth at least $9.
As you can see that you will not be making a fortune if you have this coin. That is why you can simply keep it in your collection, as the resale value is not too high and most likely not to go any higher in the foreseeable future.
What Are The Series Of The 1988 Penny?
There were three series for the 1988 penny. The first one was minted in Philadelphia, and more than 6,000,000,000 coins were minted with no mintmark.
Another series is the Denver series, which has a mintmark of D. At least 5,000,000,000 of these pennies were minted during that time.
Finally, the third series is the 1988 S-proof penny that was minted in San Francisco. Only 3,000,000 of these proof pennies were minted.
That is because such pennies are for collectors, so they are not minted in many quantities. It is to preserve the value of the coin.
How Rare Is A 1988 D Penny?
The 1988 D penny is not rare at all. That is because 5,000,000,000 of these pennies were minted, which means they were incredibly common.
Because of this, you will not get hundreds of dollars for your coin. Because of this mintage, the coin will be worth its face value in good condition.
How Can I Clean My 1988 Penny?
If you want to sell your 1988 penny and clean it before selling, you can use coke. Yes, it might seem bizarre, but this soda contains phosphoric acid.
The acid breaks down the copper oxygen compound in the penny and ensures that a new layer of copper is exposed on the surface. Your penny will look as good as new and shine bright as you clean it with coke.
There are also many other ways you can clean the penny and keep its integrity intact. However, we recommend using the coke method.
The soda is easily available in everyone’s house, and it will not even take two minutes for you to clean the penny. Once you are done, be sure to wipe your penny with a soft, clean, and dry cloth.
What Errors Are There On A 1988 Penny?
The error on a 1988 penny is that it has an obverse die. This issue is not noticeable to many users because of the lack of understanding. However, the error increases the value of the coin, making it more valuable.
The 1988 D penny has eleven different dies, while the P penny has seven different dies. You can notice this by paying attention to the mint mark. If you have such a penny, you can sell it for a few more dollars than the standard value.
How To Know If My 1988 Is Real?
Sometimes a seller may try to sell you a fake 1988 penny if you show a lack of understanding. This is why you must check the coin to avoid getting fooled and wasting money. The best way to do this is by getting the penny inspected.
Coins after 1983 have a high zinc content. So you can check the composition to understand the authenticity. If the seller is giving you an older coin, it may have more copper than zinc.
You may also know if the penny is valuable or not by checking the mint mark. The date is also engraved on the coins.
What Is The Mint Mark On A 1988 Penny?
A mint mark is a tiny letter on a coin that identifies where the coin was produced. Typically, the 1988 penny value will be higher if the item has this mark and is in an uncirculated condition.
The top feature of minting is that it holds the maker responsible for the coin’s quality. The symbol is present above the year. A “P” mainly stands for Philadelphia to represent the production region.
If an error is present on the mint mark, the coin will value high. Sometimes a blob may also be there on the symbol.
