Is Your 1992 Lincoln Penny Worth $25,850? Here’s What to Look For
The 1992 Lincoln penny is a common coin in circulation, but certain rare varieties can be worth thousands of dollars to collectors. Notably, the 1992 Close AM penny has fetched up to $25,850 at auction. This article will guide you through identifying these valuable pennies, understanding their unique features, and determining their worth.
Understanding the 1992 Lincoln Penny
The 1992 Lincoln penny features President Abraham Lincoln on the obverse (front) and the Lincoln Memorial on the reverse (back). Most of these pennies are made of 97.5% zinc and 2.5% copper, weighing 2.5 grams. In 1992, the U.S. Mint produced billions of these coins across three facilities:
| Mint Location | Mint Mark | Mintage Quantity |
|---|---|---|
| Philadelphia | None | 4,648,905,000 |
| Denver | D | 4,448,673,300 |
| San Francisco | S | 4,176,560 (Proof coins) |
The Close AM vs. Wide AM Varieties
A key feature distinguishing valuable 1992 pennies is the spacing between the letters “A” and “M” in “AMERICA” on the reverse side:
- Wide AM: The standard design where the letters “A” and “M” are separated.
- Close AM: A rare variety where the letters “A” and “M” are nearly touching.
The Close AM variety resulted from the use of a reverse die intended for 1993 pennies, making 1992 Close AM pennies highly sought after by collectors.
Identifying a 1992 Close AM Penny
To determine if your 1992 penny is the valuable Close AM variety, follow these steps:
- Examine the Reverse Side: Look at the word “AMERICA.” If the “A” and “M” are nearly touching, it’s a Close AM variety.
- Check the Mint Mark: Identify if there’s a mint mark under the date on the obverse side:
- No mint mark indicates it was minted in Philadelphia.
- A “D” mint mark indicates it was minted in Denver.
- Assess the Coin’s Condition: Coins in better condition (uncirculated or with minimal wear) are more valuable.
Value of the 1992 Close AM Penny
The value of a 1992 Close AM penny depends on its mint mark and condition:
| Coin Type | Condition | Auction Record Price |
|---|---|---|
| 1992 Close AM (No Mint Mark) | Mint State 67 Red | $25,850 |
| 1992-D Close AM | Mint State 64 Red | $20,700 |
Note: “Mint State” refers to coins that have not been circulated and show no signs of wear. The “Red” designation indicates the coin retains its original red copper luster.
Factors Affecting Value
Several factors influence the value of a 1992 Close AM penny:
- Rarity: The Close AM variety is rare due to the limited number produced.
- Condition: Higher-grade coins (those with minimal wear) command higher prices.
- Market Demand: Collector interest can drive prices up, especially for coins in exceptional condition.
Discovering a 1992 Close AM penny in your collection can be exciting and potentially lucrative. By carefully examining your pennies and understanding the distinguishing features of the Close AM variety, you can identify these rare coins. If you believe you have a 1992 Close AM penny, consider having it professionally graded to determine its condition and maximize its value.
FAQs
How can I tell if my 1992 penny is a Close AM variety?
Examine the word “AMERICA” on the reverse side. If the “A” and “M” are nearly touching, it’s a Close AM variety.
Are all 1992 Close AM pennies valuable?
While all 1992 Close AM pennies are considered rare, their value significantly increases with better condition and higher grades.
Should I get my 1992 Close AM penny graded?
Yes, professional grading can authenticate your coin and provide an accurate assessment of its condition, which can enhance its value to collectors.
