Check Your Pocket: The 1992 Close AM Lincoln Penny Could Be Worth Over $240,000

If you’ve ever tossed a penny aside thinking it’s not worth much—think again. One small cent, minted in 1992, has stunned collectors and treasure hunters alike. The 1992 Close AM Lincoln Penny may look just like any regular coin in your pocket, but it’s so rare and valuable that one sold for over $240,000. And the most surprising part? These coins may still be floating around in everyday circulation.

Let’s dive into what makes this ordinary-looking penny extraordinary.

Why Is the 1992 Close AM Penny So Valuable?

At first glance, the 1992 penny looks like any other. But there’s a tiny design detail on the back that separates the ultra-rare from the common.

Flip the coin over and look at the word “AMERICA.” On most 1992 pennies, there’s a clear space between the letters A and M—this is known as the Wide AM version. However, on the rare Close AM variety, the two letters are so close that they nearly touch at the base. This wasn’t supposed to happen. The Close AM design was only meant for special proof coins, not regular ones. But a few slipped through by mistake.

That mistake turned into gold (well, almost). Because these coins were minted in such limited numbers, they’ve become a holy grail for collectors.

How Much Can One Be Worth?

While not every 1992 Close AM penny will fetch six figures, the best examples have sold for jaw-dropping amounts:

In 2012, a high-grade version went for $24,056 at a Heritage Auctions event.
A near-mint specimen, graded MS67 (that’s almost perfect condition), was sold privately for over $240,000.
Even well-worn or lower-grade examples can still earn $1,000–$10,000.

Think about it—a coin worth one cent turning into thousands, or even hundreds of thousands, just because of a small error.

How to Spot a 1992 Close AM Penny

You don’t need to be a coin expert to go treasure hunting in your spare change. Here’s a simple step-by-step:

Check the Date
Look for a penny minted in 1992. That’s your starting point.
Flip It Over
Examine the word “AMERICA” on the back.
Look at the Letters
If the A and M in AMERICA are almost touching at the bottom, you might have a Close AM.
Check FG Initials
Look near the base of the Lincoln Memorial. If the initials “FG” (for engraver Frank Gasparro) are set a bit farther from the building than usual, that’s another clue.
Use a Magnifying Glass
These design differences are small, so don’t strain your eyes—use a magnifying glass or coin loupe.

If you think you have a Close AM, don’t rush to sell it. Get it professionally graded by services like PCGS or NGC to verify its authenticity and condition.

Why Are These Still in Circulation?

Here’s the crazy part: this error wasn’t discovered until well after 1992—some reports say almost a decade later. That means many of these coins were likely used, spent, saved in piggy banks, or dropped in parking lots without anyone knowing what they really were.

Since millions of pennies are still circulating every day, there’s a good chance that more 1992 Close AM coins are out there—just waiting to be found.

Should You Start Checking Your Change?

Absolutely! You’re not just looking for the 1992 Close AM. Other valuable pennies—like the 1983 Doubled Die Reverse or the 1995 Doubled Die Obverse—can also bring in hundreds or thousands of dollars.

All it takes is a curious eye and a little patience. You never know—your next grocery store penny might just change your life.

So go ahead, grab that old coin jar, take a closer look at those forgotten cents, and check your pocket—you might be sitting on a small fortune.