The low-temperature elementary spin excitations in the AFM molecular wheel Fe 18 were studied experimentally by inelastic neutron scattering and theoretically by modern numerical methods, such as dynamical density matrix renormalization group or quantum Monte Carlo techniques, and analytical spin-wave theory calculations. Fe 18 involves eighteen spin-5/2 Fe III ions with a Hilbert space dimension of ∼10 14 , constituting a physical system that is situated in a region between microscopic and macroscopic. The combined experimental and theoretical approach allowed us to characterize and discuss the magnetic properties of Fe 18 in great detail. It is demonstrated that physical concepts such as the rotational-band or L and E-band concepts developed for smaller rings are still applicable. In particular, the higher-lying low-temperature elementary spin excitations in Fe 18 or AFM wheels, in general, are of discrete antiferromagnetic spin-wave character.