🔍 Why the 1992 “Close AM” Penny Is So Valuable
Most 1992 Lincoln pennies are worth exactly one cent—but a tiny design mistake turned a handful into five-figure treasures.
In 1992, the U.S. Mint mistakenly used proof coin dies (meant for collector coins) on regular circulation pennies. The error shows up on the reverse:
- Close AM (Rare) – the letters A and M in AMERICA nearly touch at the base.
- Wide AM (Normal) – the A and M are clearly separated.
👉 The 1992-D (Denver) Close AM is about 10x rarer than the Philadelphia (no mint mark) version.
đź“ś Record Auction Sales
- 1992-D MS-67 (PCGS) — $25,000 (Heritage, 2024)
- 1992 (No Mint, Philadelphia) MS-65 — $5,100 (2023)
Even a lightly circulated 1992-D Close AM can bring $1,500–$2,500, while high-grade examples reach car-buying money.
🕵️ The 60-Second “Close AM” Test
Tools You Need:
- 10x jeweler’s loupe (under $10)
- Bright LED flashlight
- Kitchen scale (authentic penny = 2.5 g)
Steps:
- Flip to the reverse.
- Look at “AMERICA.”
- Wide AM (common): noticeable space ❌
- Close AM (rare): A and M nearly touch âś…
- Check the mint mark:
- 1992-D (Denver): $1,500+ ungraded
- 1992 (No Mint): $100–$300 ungraded
đź’µ 2024 Value Guide
| Grade | 1992 (P) | 1992-D |
|---|---|---|
| Ungraded | $100–$300 | $1,500+ |
| MS-65 | $1,000 | $10,000 |
| MS-67+ | $5,000 | $25,000 |
đź’ˇ Pro Tip: A raw $1,500 1992-D Close AM can jump to $25K with PCGS or NGC grading.
🏆 Real-Life Discoveries
- Texas waitress (2023): Found one in a tip jar—graded MS-66, sold for $18,000.
- eBay buyer (2024): Bought a $20 coin lot—flipped a Close AM for $12,000.
đź“Ť Where You Might Find One
- Customer-wrapped penny rolls from banks
- Thrift store jewelry trays (pennies used as charms)
- Old family coin jars (especially pre-2000 collections)
⚠️ Counterfeit Warning
- Some scammers alter 1992 Wide AM pennies by scratching the letters closer together. Genuine Close AMs have smooth, natural spacing.
- On eBay, beware of blurry photos—always ask for clear magnified shots.
đź’Ľ How to Sell for Maximum Profit
- Never clean the coin (instantly kills collector value).
- Photograph with macro mode on a white background.
- Best places to sell:
- Over $5K → Heritage Auctions
- Under $5K → eBay (Error Coins category)
- Timing tip: List in April—tax refund season means collectors are spending big.
🎯 Final Collector’s Tip
Every 1992 penny deserves a second look. The difference between $0.01 and $25,000 is just a couple millimeters in the spacing of two letters.
👉 Next time you get change, flip those pennies—you might be holding a jackpot in your pocket.
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