A 1992-D Lincoln, Close AM cent, graded Mint State 64 red and brown by Professional Coin Grading Service, sold for $20,700 during Heritage Auctions’ sale at the Florida United Numismatists summer convention.
The coin was struck from a reverse die that had been prepared for use on circulation strikes of 1993 but was used prematurely in striking a few pieces in 1992. Specialists call the design Reverse 7 or Reverse G, and consider a 1992 cent struck with the 1993 reverse to be a transitional design.
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The cent was one of more than 2,200 lots of Colonial coins, United States coins from half cents through gold $20 double eagles and more offered in three public sessions July 12 and 13 in Orlando, Fla., by Heritage. The auction brought total prices realized of $7,808,821. Lots totaling 93.1 percent of those offered were reported sold.
The prices realized for the auction include the 15 percent buyer’s fee added to the final hammer price of each lot won.
The 1992-D Lincoln, Close AM cent, graded Mint State 64 red and brown by Professional Coin Grading Service, was among the highlights in the auction.
The price of $20,700 carries an enormous premium beyond the price of a common Wide AM variety. For example, a PCGS MS-64 1992-D Lincoln, Wide AM cent sold in an Aug. 19, 2003, Heritage Internet-only sale for $7, including the buyer’s fee.
The distance between the feet of the A and M in AMERICA is a pick-up point. A clear space appears between the two letters on the normal circulation strikes (struck from Reverse 6), as identified by Combined Organizations of Numismatic Error Collectors of America. The spacing is much tighter on the Reverse 7 design, with the two letters nearly touching.
Another pick-up point is found at the FG initials of U.S. Mint Engraver Frank Gasparro. Both the shapes of the letters and the distance between them and the Lincoln Memorial differ in the two designs.
The loop of the G on the Reverse 6 (with the Wide AM) is flared, with serifs, while G on the Reverse 7 is straight.