Most people don’t pay much attention to their pennies, but some rare varieties can be worth a small fortune. One of the most valuable modern pennies is the 1992 Close AM Lincoln Cent. A small design difference on the reverse of the coin has turned it into a highly sought-after rarity, with some selling for over $25,000 at auction. If you have one of these pennies in your collection or pocket change, you might be sitting on a goldmine without even realizing it!
1. What Is the 1992 Close AM Penny?
The 1992 Lincoln penny comes in two varieties: Close AM and Wide AM. The difference lies in the spacing between the “A” and “M” in “AMERICA” on the reverse side of the coin. In the Close AM variety, the letters are almost touching, whereas in the Wide AM variety, there is a noticeable gap between them. The Close AM pennies were mistakenly produced using a reverse die intended for the 1993 penny design, making them extremely rare.
2. Why Are These Pennies So Valuable?
The 1992 Close AM penny is an accidental rarity, which means it was not intentionally released into circulation. Only a handful of these pennies have been discovered, making them highly desirable among collectors. Depending on the condition, they have sold for anywhere from $3,000 to over $25,000 at auctions. The rarer 1992-D Close AM penny (struck at the Denver Mint) is even more valuable, with some examples fetching over $30,000 in top condition.
3. How to Identify a 1992 Close AM Penny
Spotting a 1992 Close AM penny requires careful examination of the reverse side of the coin. Here’s what to look for:
- Close AM: The “A” and “M” in “AMERICA” are nearly touching.
- Wide AM: The “A” and “M” have a noticeable gap between them.
- Check the mint mark: The Close AM variety exists for both 1992 (Philadelphia Mint) and 1992-D (Denver Mint) pennies.
If you think you have one, it’s best to have it authenticated by a professional grading service like PCGS or NGC.
The 1992 Close AM penny is a hidden treasure that could be hiding in your coin jar, pocket change, or old collection. With some selling for tens of thousands of dollars, it’s worth taking a closer look at your pennies. Many valuable coins were released into circulation unnoticed, meaning that the next rare find could be sitting in your hands right now.
FAQ’s:
1. How much is a 1992 Close AM penny worth?
The value depends on its condition, but most examples sell for $3,000 to $25,000. The rarest 1992-D Close AM pennies can be worth over $30,000 in high grades.
2. How can I tell if I have a 1992 Close AM penny?
Look at the word “AMERICA” on the reverse of the coin. If the A and M are nearly touching, you may have a Close AM penny. It’s best to compare it with a regular Wide AM penny for reference.
3. Where can I sell a 1992 Close AM penny?
You can sell it at coin auctions, coin dealers, online marketplaces like eBay, or through professional grading services such as PCGS or NGC. Grading the coin first will increase its value and attract serious buyers.
4. Are 1992 Close AM pennies still in circulation?
Yes, but they are extremely rare. A few have been found in circulation, but most are in the hands of collectors. It’s still possible to find one in old coin rolls or collections.
5. Should I clean my 1992 Close AM penny before selling it?
No! Cleaning a rare coin can significantly lower its value. Keep it in its original condition and store it in a protective holder before getting it graded.
