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Why is 1992 penny worth so much?

nypost.com - Is this rare penny worth $26K hiding in your piggy bank? - New York Post

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You could soon be making a pretty penny.

A coin collector is urging Americans to check their change drawers to see if they’re in possession of a 1992 Lincoln penny worth a whopping $26,000. The expert, known only as Shaun, took to TikTok to share a video about the penny, which has garnered more than 30,000 views. The commemorative Lincoln coin was designed 30 years ago by US Mint Chief Engraver Frank Gasparro, but Shaun says there are two different types — and only one is super valuable. According to the TikToker, both varieties initially appear almost identical. They both feature a profile of Abraham Lincoln on the obverse side and an image of the Lincoln Memorial on the reverse side. But there are subtle differences that distinguish them — and it’s those that you need to watch out for. “Flip the coin over,” Shaun states in his viral video, instructing owners to look at the word “America” written on the reverse of the penny. “If you have a coin where the A and the M are nearly touching, then you have the rare variety.” Experts describe this as the “Close AM” variety, and it will also feature the initials “FG” — for Frank Gasparro — engraved near the image of the Lincoln Memorial. “You can find this variety in both the Philadelphia and Denver minted types,” Shaun declared, claiming that possession of the coin could be “life-changing.”

However, the Close AM variety is incredibly rare.

According to Professional Coin Grading Services, a whopping 9 billion Lincoln pennies were produced by both the Philadelphia and Denver Mints in 1992. Coinappraiser.com says, “It is approximated that only 10 or so of the ‘Close AM’ coins exist” — which is what makes them so valuable. The last sale of a Close AM 1992 Lincoln penny was recorded back in 2017, with the coin selling for an incredible $25,850. Professional Coin Grading Services also reported that another of the rare coins sold in 2012 for $24,056.

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What makes a 1943 D wheat penny valuable?

A 1943 wheat penny is valuable for a few reasons. First, minting errors during that year led to some coins being made with a bronze cent planchet instead of the standard brass planchet. Second, the mint also produced a small number of 1943 pennies on zinc-coated steel planchets.

allthedecor.com - 1943 Wheat Penny Value - All The Decor

Numismatic collectors are always looking for rare and valuable coins, and the 1943 steel penny is often thought to be one of the most valuable. However, the truth is that these pennies are actually not very rare at all. In fact, millions of them were minted, and they can easily be found in circulated condition. The value of a 1943 steel penny depends largely on its condition, but even a 1943, 1943-S, and 1943-D are normally only worth a couple of dollars in very fine condition at the least, they are worth between 10-15 cents. These prices are not to be confused with minting errors of the 1943 wheat cent, which we will touch on later. So, while searching for a rare 1943 steel penny may be fun, don’t get your hopes up too much – you’re not likely to find a fortune.

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