The 1992 Lincoln cent looks like any other modern penny at first glance.
Billions of these zinc pennies with a thin copper plating were made for circulation.
A major design change at the mint created one of the modern era's most famous transitional varieties.
The United States Mint was preparing a new reverse design for the 1993 Lincoln cent.
This new design brought the letters A and M in the word AMERICA much closer together.
Somehow, a tiny number of 1992 pennies were struck using this newer 1993 reverse die by mistake.
The Philadelphia Mint struck this coin without a mint mark beneath the date.
Most 1992 pennies show a wide space between the A and the M.
Finding a 1992 cent with the letters touching is an exceptionally rare find for any collector.
High-end examples of this variety command strong prices at public sales.
Heritage Auctions handled a notable sale for this variety that was cataloged with a grade of Mint State 67 Red.
The record listing tracks the sale with the pricing figure 01/17.
A grade of 67 means the coin has practically no flaws, scratches, or contact marks from handling.
The RD designation stands for full original red color on the copper surface.
Coins made of copper and zinc often spot or tone brown over time.
A piece retaining its original bright red luster at this high grade level is very difficult to find.
Professional certification gives buyers confidence that the variety is genuine and perfectly preserved.
This coin ranks among the rarest modern Lincoln cent varieties ever discovered.
Only a tiny handful of genuine 1992 Close AM cents are known to exist.
Standard 1992 cents are extremely common and only worth one cent in pocket change.
Because the wrong die was used in 1992, almost all of them were released directly into circulation.
Most examples spent years bouncing around in change before anyone noticed the difference.
That means finding one in uncirculated condition is nearly impossible.
Collectors trying to build a complete Lincoln cent variety set must compete for the few that surface.
This constant collector demand keeps interest and values high whenever an example hits the market.
You need to check the reverse side of your 1992 penny carefully.
Use a magnifying glass or a pocket loupe with at least 5x to 10x magnification.
Turn the coin over and look at the word AMERICA on the right side of the Lincoln Memorial building.
Look directly at the bottom corners of the letters A and M.
On a regular 1992 penny, you will see a clear gap between the bottom of the A and the bottom of the M.
On the rare 1992 Close AM variety, the bottom corners of the A and M are so close they almost touch.
You can also look at the designer initials FG near the base of the memorial building.
On the rare Close AM style, the initials FG sit farther away from the memorial base.
If you want a fast way to double-check what you have, you can use the CoinKnow app to scan your coin first.
Another helpful option for checking coins with your phone camera is Coin Value Checker.
Keep in mind that high auction records belong only to flawless, certified mint-state specimens.
Any genuine example you find in your pocket change will still be an exciting find to have authenticated.
Want to check a whole jar of coins quickly? a closer look at which coin valuation app actually works makes that practical.