Is this rare penny worth $26K hiding in your piggy bank? (2024)

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.