The error-related negativity (ERN) is an event-related brain potential observed in adults when errors are committed, and which appears to be sensitive to error value. Recent work suggests that the ERN can also be elicited in relatively young children using simple tasks and that ERN amplitude might be sensitive to error value. The current study employed a Go No-Go paradigm in which 5-7-year-old children (N = 18) earned low or high points for correct responses. Results indicated that errors were associated with an ERN; however, the size was not reliably moderated by error value.