How to spot a valuable Lincoln Cent — The “Close AM” coin worth up to $35.000
The rare 1992 Lincoln penny with a "Close AM" error can be worth up to $35,000. Learn how to spot this valuable coin and understand why it commands such high prices in the collectors’ market.
Coins are not only historical artefacts but also valuable collectibles for enthusiasts and investors. One such coin, the 1992 Lincoln cent, has recently drawn attention due to a rare design error that can make it worth a small fortune. This unique feature, known as the "Close AM," is found on a limited number of coins that were struck by mistake, creating substantial value in the numismatic market.
What sets the 1992 Lincoln cent apart is an error in the design of the reverse side, where the letters "A" and "M" in "AMERICA" are unusually close together. While most 1992 pennies have a significant gap between these letters, the “Close AM” variety is now highly sought after. So, how can you tell if your cent is one of these rare finds?
1992-D 1C Close AM, BN (Regular Strike) Lincoln Cent (Modern). Photo: PCGS.
The importance of the “Close AM” error
In 1992, over 4.6 billion Lincoln pennies were produced, but only a small fraction contains this specific error. Known as the "Close AM" variant, these coins are distinguished by a small yet significant mistake in the design, where the “A” and “M” of "AMERICA" on the reverse side are unusually close. This was the result of a design template intended for the 1993 penny, mistakenly used on the 1992 coins.
Another detail to note is the initials “FG” by designer Frank Gasparro, which appear on the lower right side of the reverse. On the rare variety, these initials are located slightly farther away from the Lincoln Memorial building compared to the common 1992. To determine if you have a 1992 “Close AM” Lincoln cent, you should also note the following details:
- Obverse: Features the bust of Abraham Lincoln with the inscription “IN GOD WE TRUST” at the top, “LIBERTY” to the left and the date “1992” to the right.
- Reverse: Shows the Lincoln Memorial with the words “ONE CENT” and “UNITED STATES OF AMERICA” on the periphery. The phrase “E PLURIBUS UNUM” is at the top of the design.
- Check the year and mintmark: Make sure the piece is from 1992 and has no mintmark, which are those belonging to Philadelphia.
How to identify a valuable Lincoln Cent?
The best way to identify a rare 1992 “Close AM” penny is to closely examine the reverse side. In regular 1992 coins, there’s a clear space between the "A" and the "M" in "AMERICA," but on the error coins, the bases of these letters almost touch. Collectors and auction houses pay top dollar for these rare pieces, sometimes fetching as much as $35,000 at auctions.
Since this coin is a rarity and has gained notoriety among collectors, it's essential that any find be certified by numismatic experts. Authentication guarantees its value and allows sellers to obtain the best price at auctions or in the collector's market. While these pennies have been discovered sporadically in circulation or in lots of old pennies, their extreme rarity makes each find a significant event in the community. Collectors continue to search for more specimens of this relevant piece, which keeps its demand and price high in the market.