As many pennies as there are in the world, there are bound to have been some errors in the mix. One of the most produced, if not the most produced, coins from the United States Mint, you are more likely to have seen your fair share in your pockets, wallets, vending machines, and even on the ground. So with those odds, it is safe to say that some are going to have some differences that were NOT planned. As part of our continuing blog series covering Whitman Publishing’s fourth edition of the 100 Greatest United States Modern Coins publications, we are going to take a look at a penny (or pennies) variety from the early 1990’s that happens to be extremely rare. With help from authors Jeff Garrett and Scott Schechter, let us explore this top 35 pick.
#34 - 1992 and 1992-D Lincoln Cent, Close AM
The year 1992 was one accordingly named a “transitional year” for the Lincoln cent. Produced from 1959-1991, the letters AM in AMERICA on the reverse were more spread out compared to the design change to come. While the design change was planned for 1993 including both the Proof and Mint state versions, a very small number of 1992 pennies from both Denver and Philadelphia were produced with the planned “Close AM” reverse. In the case of the Denver minted coins, according to our authors, fewer than two dozen were reported while only two total were reported from Philadelphia.
In 1992, more than 4.6 billion Lincoln cents were stuck at Philadelphia while another 4.4 billion were produced at Denver. The possibility of finding one of the Close AM varieties in either case is slim to none. While the Close AM detail is easier to spot than one would think, there appears to be another detail difference that allows one to know if they have truly found one. According to Garrett and Schechter, the designer’s initials (FG) are spaced further away from the lower right of the Lincoln Memorial on the reverse. On the Wide AM variety, or the “normal” penny struck from that year, the G in FG almost touches the monument.
While the reasons for the design change were never truly explained, it is likely that the life of the dies were put into play as it would have made production easier and more economically responsible. While numerous minor details would have taken place after 1992 to the Lincoln cent, this particular detail was easier to spot.
Since the first edition of this publication, the 1992 and 1992-D Lincoln Cent with the Close AM have moved up four spots from #38.