The 1992 Close AM Penny: A Modern Coin Worth Up to $20,000
The 1992 Close AM penny is a remarkable find for numismatists and casual collectors alike. This seemingly ordinary coin can be worth a substantial amount due to a unique minting anomaly.
Understanding its origins, identifying features, and market value can turn your pocket change into a valuable asset.
Understanding the 1992 Close AM Penny
In 1992, the United States Mint produced the Lincoln Memorial cent with a specific design on the reverse side. The standard design featured a noticeable space between the letters “A” and “M” in “AMERICA,” known as the Wide AM.
However, a transitional error led to some pennies being minted with the letters “A” and “M” almost touching, referred to as the Close AM. This design was intended for the 1993 pennies but was inadvertently used in 1992, creating a rare and valuable variety.
Identifying the Close AM Variety
To determine if your 1992 penny is the rare Close AM variety, follow these steps:
- Examine the Reverse Side: Look at the word “AMERICA.”
- Observe the Spacing:
- Close AM: The letters “A” and “M” are so close that they almost touch.
- Wide AM: There is a noticeable gap between the “A” and “M.”
- Check the Designer’s Initials:
- On the Close AM variety, the initials “FG” (for Frank Gasparro) are positioned farther from the Lincoln Memorial building.
- On the Wide AM, the initials are closer to the building.
Careful inspection with a magnifying glass can help in accurately identifying these features.
Market Value of the 1992 Close AM Penny
The value of a 1992 Close AM penny varies based on its condition and mint mark. Coins graded in Mint State (MS) conditions have fetched impressive sums at auctions.
| Coin Type | Grade | Auction Price | Auction Year |
|---|---|---|---|
| 1992 Close AM | MS67 | $25,850 | 2017 |
| 1992-D Close AM | MS64 | $20,700 | 2012 |
| 1992 Close AM | MS64 | $8,812.50 | 2016 |
| 1992-D Close AM | MS65 | $14,100 | 2014 |
| 1992-D Close AM | MS62 | $2,820 | 2012 |
These figures highlight the significant value that these rare pennies can achieve, especially in higher grades.
Factors Influencing Value
Several factors affect the value of the 1992 Close AM penny:
- Condition: Coins with minimal wear (higher grades) are more valuable.
- Color: Red (RD) pennies, indicating original luster, are preferred over Red-Brown (RB) or Brown (BN) coins.
- Rarity: Fewer known specimens increase a coin’s desirability and value.
Tips for Collectors
- Inspect Your Change: Carefully examine 1992 pennies in your possession.
- Use Proper Lighting: Good lighting and magnification aid in identifying the Close AM feature.
- Consult Experts: If you believe you have a Close AM penny, consider professional grading services to authenticate and grade your coin.
The 1992 Close AM penny exemplifies how a small minting variation can create a highly sought-after collectible. By understanding its distinguishing features and market value, you might discover a valuable coin hidden in plain sight.
FAQs
What causes the Close AM variety in 1992 pennies?
The Close AM variety resulted from the use of a reverse die intended for 1993 pennies, leading to the “A” and “M” in “AMERICA” being nearly touching.
How many 1992 Close AM pennies are known to exist?
As of recent reports, approximately 20 examples of the 1992 Close AM and about 75 of the 1992-D Close AM have been identified.
Are circulated 1992 Close AM pennies valuable?
Yes, even circulated examples can be worth several hundred dollars, depending on their condition.
