Imagine finding a 1992 Lincoln penny in your change worth more than $25,000. 
That’s the reality of the 1992 Close AM Lincoln Cent—one of the rarest modern transitional errors in U.S. coin history.
Even today, it’s still hiding in circulation, and most people don’t even know it exists.
What Is the 1992 Close AM Error?
This variety looks nearly identical to a regular penny—until you inspect the reverse.
Reverse Design Details
- The A and M in AMERICA are touching or nearly touching
- Normal 1992 cents have a clear gap between the letters
- This proof-style reverse was accidentally used on business-strike coins
Obverse Details
- Standard 1992 Lincoln design
- Found in:
- No mintmark (Philadelphia)
- 1992-D (Denver) — far rarer and more valuable
Why This Error Is So Legendary
Collectors chase it because:
- Transitional design mistake (proof reverse on circulation strike)
- Listed in Cherrypickers’ Guide (FS-901)
- One of the rarest Lincoln Memorial reverses ever made
- Highly desired by registry-set collectors
Very few exist—and even fewer are in Mint State.
Value Guide & Auction Records (2024–2025)
| Grade | PCGS Market Value | Auction Record |
|---|---|---|
| MS-63 RD | $8,000–$12,000 | $13,200 |
MS-65 RD  |
$15,000–$20,000 | $25,850  |
| MS-67 RD | Extremely rare | Not yet publicly sold |
Historic Sale:
A 1992-D Close AM graded MS-67 Red stunned collectors when it sold for $25,850 at Heritage Auctions.
5-Step Authentication Checklist
Use this step-by-step process before getting excited:
Step 1 — Check AM Spacing
- The A and M should nearly touch
Step 2 — Confirm the Date & Mintmark
- Only 1992 and 1992-D qualify
- 1993+ pennies are not the same variety
Step 3 — Inspect FG Initials
- Look for correct Frank Gasparro initials spacing
- Confirms the specific reverse die
Step 4 — Evaluate Color & Grade
- RD (Red) brings highest value
- Higher Mint State = higher price
Step 5 — Get It Certified
- Must be graded by:
- PCGS
- NGC
- Label should show FS-901
No certification = no top-dollar sale.
Why It Can Be Worth Over $25,000
Fewer than 20 confirmed 1992-D Close AMs
Proof-reverse dies mistakenly used
Often overlooked without magnification
Huge demand from Lincoln cent specialists
In short: extremely rare + high demand = big money.
How to Sell One If You Strike Gold
Top Auction Houses
- Heritage Auctions
- GreatCollections
- Legend Rare Coin Auctions
Private Buyers
- High-end Lincoln cent specialists
- Registry-set collectors searching for missing pieces
For Coins Worth $10K+
- Ultra-HD coin photography
- Verified dimensions & weight
- Professional valuation + market trend report
- Placement through elite dealers or auction platforms
Certified Value Valid Through: September 30, 2025
Next Market Review: Closing in 4 days
