Could a 1992 Penny Really Be Worth Over $25,000?
Most people spend pennies without a second thought. But one rare variety — the 1992 Close AM Lincoln Cent — has shocked collectors by selling for as much as $25,850 at major auctions.
What makes this coin extraordinary is that the error is nearly invisible unless you know exactly where to look. That’s why many examples likely passed through circulation unnoticed.
Let’s break down what makes this penny so valuable, how to identify it step by step, and what to do if you think you found one 
What Is the 1992 “Close AM” Lincoln Penny?
The secret is hidden on the reverse (back) of the coin.
Key Visual Difference:
- Look at the word AMERICA
- On rare coins, the “A” and “M” are almost touching
- On normal 1992 pennies, the letters are clearly spaced apart
The Close AM reverse was intended only for proof coins, but a small number of proof dies were mistakenly used on regular circulation strikes.
Obverse (Front) Details You Should Know
The front of the coin appears normal, which is why this error is often missed.
Standard 1992 Lincoln Memorial design
Found with no mint mark (Philadelphia) and “D” mint mark (Denver)
1992-D Close AM is significantly rarer and more valuable 
Error Type Explained (Why It’s Legit)
This is not damage or post-mint alteration.
Official Error Classification:
- Transitional design error
- Proof reverse die used on business-strike coins
- Listed in the Cherrypickers’ Guide (FS-901)
- Recognized and certified by PCGS and NGC
This places the 1992 Close AM among the rarest Lincoln Memorial reverse varieties ever produced.
1992 Close AM Penny Value Guide (Recent Sales)
| Grade | Estimated Value | Auction Record |
|---|---|---|
| MS-63 RD | $8,000 – $12,000 | $13,200 |
| MS-65 RD |
$15,000 – $20,000 |  $25,850 |
| MS-67 RD | Extremely rare | Not yet sold |
Notable Sale: A 1992-D Close AM (MS-67 RD) achieved $25,850 at Heritage Auctions, setting a modern-cent record.
Step-by-Step: How to Authenticate Your Coin
Follow these steps carefully before celebrating:
Check AM spacing — letters should nearly touch
Verify the date — must be 1992 or 1992-D
Inspect “FG” initials — confirms correct reverse die
Evaluate color & condition — bright red (RD) coins command premiums
Submit for grading — PCGS or NGC with FS-901 attribution
Never clean or polish the coin — this can destroy up to 90% of its value.
Why Collectors Pay $25,000+ for This Penny
Fewer than 20 confirmed 1992-D examples
Proof die mistakenly used in circulation
Extremely subtle difference — easy to miss 
Essential coin for registry set builders
This penny is a classic example of how small details create massive value in numismatics.
Where to Sell a 1992 Close AM Penny
If you’re lucky enough to find one, here’s how professionals sell them:
Top Auction Houses:
- Heritage Auctions
- GreatCollections
- Legend Rare Coin Auctions
Private Sales:
- Advanced Lincoln cent collectors
- Transitional-error specialists
Pro Tip: For coins valued over $10,000, professional grading, photography, and auction placement can significantly increase your final price.
Final Thoughts: Always Check 1992 Pennies Carefully
The 1992 Close AM Lincoln Cent proves that not all valuable coins look special at first glance.
With confirmed sales reaching $25,850, this penny remains one of the most exciting modern U.S. coin discoveries.
So next time you see a 1992 penny…
grab a magnifying glass.
That tiny gap between two letters could mean $25,000 in your pocket.
