This is the only date of a non error coin in the entire Lincoln cent series which has a transitional design which is visible to the naked eye. As of 2009, there have only been three examples which have surfaced for the 1992-P Close AM variety.
This variety was very likely struck as an experimental piece or as a trial strike to determine how the new reverse would look on 1993 cents. Since this variety is mainly distinguishable by the letters AM of AMERICA on the reverse, it is referred to as a Close AM variety. Because it is referred to as a Close AM variety, many confuse it with some of the more common business strike and proof strike Wide and Close AM Lincoln cents which were accidentally struck in 1998, 1999 and 2000.
The major difference is that the 1992 Close AM variety really has a transitional design or a design intended for the following year of 1993. This coin is considered to be extremely scarce. The most recent example was found in change by Kie Brown of Connecticut. Kie sent the coin in to PCGS and the coin received a grade of MS62 Red and currently it is the only example that PCGS has certified.
The first example of this variety was discovered 14 years after the coins were originally struck or on May of 2006 by Parker Ogilvie of Michigan. There is also a second known example of this variety which is in AU condition and another separate example believed to be in the lower mint state grades. There are no records of this coin ever selling and it seems as if all the coins that were found, are still owned by the individuals who found them. If any of these coins were to be sold they should easily bring a couple of thousand dollars and maybe even up to $5,000.
There is also a 1992-D Close AM variety known which was also struck with a reverse design of 1993. The 1992 Close AM examples struck at the Denver Mint are also considered very scarce and there is only about a dozen examples known for this variety. The 1992-D Close AM variety is the more common one of the two if compared to the 1992-P Close AM, if it can even be called common at all with less than 15 examples known.
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