Most 1993 pennies sitting in your pocket are worth exactly one cent. But examine the reverse closely with a magnifying glass, and you might discover a spacing error that collectors will pay over $1,000 to own. The difference between a common coin and a valuable variety often comes down to a fraction of a millimeter between two letters.

The Close AM Phenomenon That Changed Everything

In 1993, the United States Mint accidentally used the wrong reverse die on a small number of Lincoln cents. The standard Wide AM design features noticeable spacing between the “A” and “M” in “AMERICA” on the reverse. However, error coins received dies intended for proof coins, where these letters nearly touch at their bases.

This Close AM variety represents one of the most significant modern errors in American numismatics. The mistake occurred across all three minting facilities, though survival rates vary dramatically. Philadelphia produced the most Close AM errors, followed by Denver, with San Francisco examples being exceptionally rare since these were proof coins to begin with.

Professional grading services like PCGS and NGC specifically designate Close AM varieties with special labels, instantly identifying them for collectors and investors.

Philadelphia Mint: No Mint Mark Varieties

The 1993 penny without a mint mark originated from Philadelphia, where the Mint struck over 5.6 billion Lincoln cents that year. Standard circulation strikes in typical circulated condition remain worth face value.

Close AM Error Values:

Heritage Auctions sold an MS-66 Red example for $1,380 in January 2023, while a pristine MS-67 Red brought $2,350 at auction in November 2022. These prices reflect the coin’s rarity combined with strong collector demand.

Beyond the Close AM, doubled die obverse varieties exist showing doubling in “LIBERTY” and the date. A 1993 DDO with clear doubling typically sells for $25-$75 in circulated grades, reaching $200-$400 in mint state.

Uncirculated examples without errors in MS-65 grade sell for $3-$8, primarily to collectors completing date sets. The bright red copper luster commands premium prices over brown or red-brown surfaces.

Denver Mint: The “D” Mint Mark Treasure

Denver produced approximately 5.3 billion pennies in 1993, identifiable by the small “D” below the date on the obverse. Like their Philadelphia counterparts, most remain common circulation finds.

1993-D Close AM Values:

Stack’s Bowers sold a 1993-D Close AM graded MS-65 Red for $840 in March 2023. The same coin type in MS-66 Red achieved $1,560 at a Great Collections auction in April 2023.

The 1993-D also features a dramatic doubled die reverse (DDR) variety showing doubling in “UNITED STATES OF AMERICA” and “ONE CENT.” Certified examples in MS-64 sell for $75-$150, while MS-65 specimens command $200-$350.

A separate doubled die obverse exists with visible doubling around Lincoln’s ear and in “LIBERTY.” This variety typically sells for $15-$45 in circulated grades and $100-$250 in mint state, depending on the strength of doubling and overall condition.

High-grade examples without errors in MS-67 or MS-68 occasionally appear at auction. An MS-68 Red sold for $420 in 2022, reflecting the difficulty of finding perfectly preserved circulation strikes from this high-mintage year.

San Francisco Mint: Proof Coin Anomalies

San Francisco struck only proof coins in 1993, producing approximately 3.4 million sets for collectors. These coins feature mirror-like surfaces and sharp strikes, packaged in protective cases and never intended for circulation.

Standard 1993-S proofs in PR-65 grade sell for $3-$6, while PR-69 Deep Cameo examples bring $15-$25. Perfect PR-70 Deep Cameo specimens, the highest possible grade, sell for $75-$150.

1993-S Close AM Proof:

This represents one of the rarest modern Lincoln cent errors. Since San Francisco already used Close AM dies for regular proof production, finding a “Close AM error” requires identifying a die variety or other manufacturing anomaly.

Documented proof errors from 1993-S include:

• Doubled die proof varieties: $200-$600 in PR-67 to PR-69
• Die clash errors showing impressions from the opposite die: $150-$400
• Off-center strikes (extremely rare for proofs): $500-$1,500

A 1993-S proof cent with both Close AM designation and doubled die features sold for $2,800 in 2021, though such combinations are extraordinarily uncommon.

Authentication and Inspection Techniques

Identifying a genuine Close AM variety requires careful examination under 10x magnification or stronger. Position the coin under bright light and focus on the reverse lettering at the bottom of the memorial.

On Wide AM varieties (standard for 1993), you can clearly see space between the “A” and “M” at their bases. On Close AM errors, these letters nearly or completely touch. Some collectors use the width of a human hair as reference—if you cannot fit one between the letters, you likely have a Close AM.

Counterfeit Close AM coins exist where sellers artificially bring the letters closer through post-mint alteration. Genuine varieties show consistent letter spacing throughout “AMERICA,” while alterations often distort surrounding letters. Professional certification from PCGS or NGC provides definitive authentication, costing $20-$40 depending on service level.

For doubled die varieties, examine the areas most prone to doubling: “LIBERTY,” the date, “UNITED STATES OF AMERICA,” and “ONE CENT.” True doubling shows complete secondary images, not mechanical doubling which appears as shelf-like extensions.

Condition dramatically affects value for all varieties. Coins with original red luster command significant premiums over brown or spotted examples. Even tiny contact marks, fingerprints, or carbon spots can reduce values by 30-50% in higher grades.

Maximizing Your Discovery’s Value

If you identify a potential Close AM or other valuable 1993 penny variety, handle it only by the edges to avoid fingerprints. Store it in a protective holder—2×2 cardboard flips with Mylar windows work well and cost under $5 for a pack of 100.

Consider professional grading for coins that appear mint state (showing no wear). PCGS and NGC charge $20-$40 for standard service, but authentication and encapsulation significantly increase marketability. A raw Close AM might sell for $500, while the same coin graded MS-65 could bring $900-$1,200.

For selling, Heritage Auctions and Stack’s Bowers accept consignments of certified coins valued over $500. Great Collections offers online auctions with lower minimums. eBay remains viable for lower-value varieties, though certified coins sell for higher premiums than raw examples.

Local coin dealers can provide immediate cash offers, typically at 60-80% of retail value. This discount reflects their need to resell for profit, but eliminates auction fees and waiting periods. Always obtain multiple offers before selling valuable varieties.

Building relationships with collector communities through forums like CoinTalk or the PCGS message boards provides access to knowledgeable buyers who may pay retail prices for desirable varieties. Documentation of your coin’s provenance and high-resolution photographs enhance selling potential across all platforms.