If you’ve ever thought pennies aren’t worth your time, the 1992 Close AM Lincoln Penny might change your mind. This rare and valuable coin, easily mistaken for an ordinary one-cent piece, has fetched more than $240,000 in private sales and auctions. And the kicker? It could still be circulating in everyday pocket change.
Let’s break down why this coin is so special—and how you might just have one sitting unnoticed in a jar at home.
What Makes the 1992 Close AM Penny So Rare?
The key to the 1992 Lincoln Penny’s value lies in a small design detail—specifically the spacing between the letters “A” and “M” in the word “AMERICA” on the reverse (back) of the coin.
Most 1992 pennies have a “Wide AM” design, where the two letters are clearly separated. However, a few were mistakenly minted with the “Close AM” design intended for proof coins. In the Close AM version, the letters are so close that they nearly touch at the base.
This die variety is an error—and collectors go crazy for these kinds of mint mistakes. Only a tiny handful of these 1992 Close AM coins are known to exist, which is why their value skyrockets when one surfaces.
How Much Is the 1992 Close AM Penny Worth?
Over the years, several examples of this rare penny have fetched five-figure or even six-figure prices:
- In 2012, a high-grade specimen sold for $24,056 at a Heritage Auctions event.
- A near-perfect example graded MS67 by PCGS reportedly sold for over $240,000 in a private transaction.
- Even lower-grade versions can sell for $1,000–$10,000, depending on condition and certification.
For a coin with a face value of just one cent, that’s an astonishing return.
How to Identify a 1992 Close AM Penny
You don’t need to be a numismatist to check your change. Here’s what to look for:
- Date: The coin must say 1992 on the obverse (front).
- Reverse Details: Flip the coin and examine the word “AMERICA.”
- In the rare Close AM variety, the letters “A” and “M” are almost touching.
- Use a magnifying glass or coin loupe for better visibility.
- Additionally, check the distance between the FG initials (engraver Frank Gasparro’s initials) and the Lincoln Memorial. In Close AM versions, they are further apart.
If your coin matches these criteria, consider getting it graded by a trusted service like PCGS or NGC.
Why Coins Like This Are Still in Circulation
Many people don’t realize that rare coin varieties often slip past the mint and into everyday use. The 1992 Close AM is a classic example—discovered years later by sharp-eyed collectors. Because millions of pennies are still in daily circulation, there’s always a chance that hidden gems like this are still out there.
This particular error wasn’t even identified until well into the 2000s, which means there’s a high probability that many examples went unnoticed for years—and possibly remain unaccounted for.
Should You Start Checking Your Change?
Absolutely. While it may feel like finding a needle in a haystack, there’s no downside to looking. Many collectors began their journey after discovering something unusual in their spare change. Even if you don’t find the 1992 Close AM, there are other rare pennies—like the 1983 Doubled Die Reverse or 1995 Doubled Die Obverse—worth hundreds or thousands of dollars.
Final Thoughts
In an age where digital money dominates, the humble penny rarely gets much attention. But the 1992 Close AM Lincoln Cent proves that treasure can still be hiding in plain sight.
Take a moment today to look through your loose change. It might just be the smartest cent you’ve ever spent time on.
Disclaimer: Always consult a professional coin grading or authentication service before selling a potentially rare coin.
