Owner Comments:

Proof coinage is struck purposefully for presentation purposes and not for use as money in circulation. Both historically and presently, the goal of Proof coinage is to showcase a nation’s coinage both to demonstrate artistry and to show off the technical capabilities of the Mint. Proof coins are made using a controlled process, with considerable attention paid to each step of their production. Specially prepared blanks receive multiple blows from a coinage die that has been treated to render the design in the best possible way. Proof coins are then sold in sets that include Proof versions of all coins struck during a given year. Because of the careful scrutiny they receive, there are relatively few collectible die varieties of Proof coins. The few that do exist seem to have slipped through the cracks without explanation, suggesting that an error occurred at the Mint. This last point plays a major role in collectors’ fascination with Proof die varieties. This is especially true of a curious die variety found on some Proof Lincoln cents from 1998, the Proof 1998-S Close AM Lincoln cent. For one year, 1993, the reverse of all Proof Lincoln cents showed the letters AM in AMERICA nearly touching. This was part of a subtle design modification meant to improve die life (a cost-saving measure) and was put into use on both Proof and circulating coins. In 1994, the design modification was retained for circulating coins, but the Wide AM reverse, which showed the letters more widely spaced, was resumed for all Proof Lincoln cents until 1998. The 1998-S Proof Lincoln cent can be found both ways—with either widely or closely spaced letters. Finding both is not easy. Only a few hundred Proof 1998-S Close AM Lincoln cents are known from the 2,086,507 total coins produced. The vast majority of that total is of the Wide AM variety. Some research suggests that as few as 15,000 Close AM coins, less than one percent of the total mintage, were struck in 1998. No one knows for sure why the variety exists. One popular theory is that a hub used for creating dies for circulation coins was used; the die then received special preparation for coining Proof coins. This variety is thus sometimes referred to as having the “circulation-style reverse.” The quality and appearance of the coin’s finish is no different from a regular Proof, but the arrangement of the reverse letters is the same as that seen on circulating coins. Without explanation, the variety was created again in 1999, and a 1999-S Close AM Proof Lincoln cent also exists. It’s about four to five times more common than the 1998 version, though. Additionally, a typo in a widely used variety reference suggested that a 2000-S Close AM cent also exists. None have yet been reported, and the variety guide has since been corrected, but this original mis-listing is occasionally replicated and quoted.

Garrett, Jeff; Schechter, Scott. 100 Greatest US Modern Coins (Kindle Locations 2363-2369). Ingram Distribution. Kindle Edition.

Purchase raw in proof set and submitted to NGC March 2019