1992 close AM cent

Discussion in 'What's it Worth' started by bullnuke, Sep 21, 2009.

  1. bullnuke

    bullnuke Junior Member

    1992 close AM cent (Photos added)

    I have a 1992 close AM cent graded MS-62red by PCGS, and I was thinking of using Heritage auctions to sell it. I can find absolutely no data as to its worth (except 10k +)and have no idea what I should set the reserve at. I have never tried to do anything like this before. Any help at all would be greatly appreciated.

    Kie

    Would have posted pics but still trying to figure out photobucket
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  3. bobbeth87

    bobbeth87 Coin Collector

    Where did you pick it up at?

    As far as the auction, I'll let others chime in as I've not done that either.
  4. bullnuke

    bullnuke Junior Member

    Picked it up in a customer roll at my now very very favorite bank here in CT.
  5. jello

    jello Old+Long time Member

    Coin World just had an article about 92 close am. and they say there only 12-15 known
    and there wroth 15k-30k depending on grade
  6. eddiespin

    eddiespin Fast Eddie

    Wow. Just a point of clarification, Jello, you guys are talking about the '92? I'm saying, I just thought the '92-D had the close AM die variety, I didn't know the '92 did, too.
  7. jello

    jello Old+Long time Member

    Yes Eddie I had a brain fart it is 92-D
  8. eddiespin

    eddiespin Fast Eddie

    I get those, myself, we're old friends... :)
  9. bullnuke

    bullnuke Junior Member

    Yes there are 12-15 known 92Ds. Mostly found in the south near Alabama

    This is one of only two 92s known and is the coin displayed in Sept 7 issue of Coin World. There was also an article this week by Ken Potter in Numismatic News?? (I think that is the correct name) for the same coin. Next week PCGS's Jaime Hernandez is doing a post grading article on the coin.

    Kie
  10. CashDude

    CashDude Member

    Wow a 92 P close AM! That is a hell of a find. I do look forward to seeing pics.
  11. bullnuke

    bullnuke Junior Member

    1992 close AM (Photos added)

    Here are the pics Ken Potter took when he attributed the coin.

    Kie

    PS I bought the photos and am not infringing on any copyright by publishing them here.

    Attached Files:

  12. mralexanderb

    mralexanderb Coin Collector

    Great find. I'd wait to hear from those who know about this coin, before I'd try to sell it. It seems to be worth quite a bit of money to those who collect modern coin errors. Be patient and see what turns up.

    Bruce
  13. zekeguzz

    zekeguzz lmc freak

    Hey Bullnuke old friend, my buddy, best pal, lov..no-no that won't work will it? Fellow nutmegger, that bank better not be the Collinsville Savings Society. I'll croak if it is. You also broke my heart, I want one so bad.
    Anyways, it seems like you know what your doin' Truly best of luck to ya.
    OH YAH, VERY NICE PICS.
  14. jello

    jello Old+Long time Member

    Great find!!!!
  15. jello

    jello Old+Long time Member

    I get them to often these days!!
  16. andy21us

    andy21us Coin Hoarder

    A very nice find! I would call Todd Imhof at Heritage and he will be more then happy to help you set a value on this coin. His number 800-872-6467 ext 1313.

    Here is a list of known WAM and CAM.

    1. 1992 Close AM - extremely rare
    2. 1998 S Close AM
    3. 1992 D Close AM
    4. 1999 S Close AM
    5. 1999 Wide AM
    6. 1998 Wide AM
    7. 2000 Wide AM - least rare
  17. bullnuke

    bullnuke Junior Member

    No it wasn't the Collinsville Savings Society, I will say that whoever had brought the rolls in had searched them prior to me, it was quite obvious by the way the rolls were set up.
    I can take no credit for the pictures, Ken Potter did a wonderful job with the camera.

    Thanks for the info called and talked with Heritage. I got the response I was kind of expecting, it seems everyone is afraid to place any kind of value with this coin :headbang: and I can't say I blame them based on all the variables involved. They were very helpful though explaining if several people want the coin it could go 100 +, but if there is only one bidder just the opposite. Based on their reserve fee I really don't want to place a reserve on the coin and have it not sell, and I don't want the coin to go for peanuts, so I think I may just keep it for a while. Not rich but I live within my means and don't really need the money.

    Separately I think I am going to open an auction house when I retire from the Navy, BIG money involved :smile.

    Kie
  18. CashDude

    CashDude Member

    What's with the bottom of the 2 in the date? It's a little shorter than normal. Die damage? Is the other known coin like that as well?

  19. bullnuke

    bullnuke Junior Member

    Not die damage, originally I thought it would be a good die marker for finding others, but I soon discovered many of the 92s exhibit the short 2 characteristic. Appears this is normal for the date.
  20. jcuve

    jcuve Lincoln variety fanatic

    I don't spend much time on CT (maybe I should), nevertheless I noticed this thread and your find from over the summer. A big congrats on the amazing find and also on the PCGS verification! Your discovery in way legitimizes the variety and gives hope to those (such as myself) that there might be a few more to find.

    It is none of my business what you do with your find. If you did sell I couldn’t possibly afford it, so that isn’t an issue. But from the standpoint of someone who used to work at an auction house (not with coins, but a department that sold about $10 mill in photographs a year) I have a few thoughts I wanted to share.


    If this was my coin, and I felt selling it outweighed keeping it, I would sell it sooner than later. I say that as there is free publicity about this find; there’s buzz about it all over the place; and the variety hasn’t been sold before. (All that changes if another ‘92P CAM appears and is sold before this example.) Based on ‘92D CAM sales there isn’t any reason to not assume it wouldn’t sell at a comparable rate, though I would suspect higher. If expectations are realistic I would be confident they would be met. This should sell for no less than 1.5K, probably more like 4K if not more (maybe 8K)...at auction it's possible. There are a number of collectors who have obtained all of the WAMs and CAMs who may be missing only the ‘92P CAM.


    A sort of reverse perspective tells me that if one were to wait, and no other ‘92P CAMs are found (or nothing comparable in terms of condition) one might make more selling it later when the economy is higher and even more collectors are pining for it. Along those lines, if one waited ten years, only two were found and there was a solid investment price in all the CAMs and WAMs, it too could be worth more. Conversely, if someone finds one that is in better condition and sells it, any potential future sale of this coin will be viewed in context of that (or any other) sales. If say a MS-64 RD came up and sold for 4K that may impact the level a MS-62 could go and all that buzz around is basically gone.

    Lastly, I think I understand Heritage’s issues with reserves and estimates. There is no sales history of this specific variety and a spotty one on the ‘92D CAM with great (albeit up and down) sales. I don’t see strong investment interest because in the long run it could be a big gamble with no return. Nevertheless, a successful auction only needs two realistic bidders and anything is possible.

    Whatever you do good luck and again congrats on a great find!


    Jason
  21. eddiespin

    eddiespin Fast Eddie

    Wow, I've been away from this thread too long, that is a '92 CAM! I've heard of these, but this is the first time I've ever looked at pictures of one. I've seen the '92-D CAM, in-hand. This '92 CAM is truly an incredible, nearly unprecedented, find!

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