Rare 1992 Lincoln penny coin sells for more than $25,000 – do you have one in your spare change?

A LINCOLN penny minted in 1992 sold for more than $25,000 in recent years – and you might be able to make a decent amount of cash if you come across one.

The rare penny, featuring 16th US President Abraham Lincoln, was designed by Frank Gasparro.

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Along with the memorial cent, Gasparro has designed a 50 cent John F. Kennedy coin and obverses and reverses of the Dwight D. Eisenhower and Susan B. Anthony dollar coins.

But what makes this coin so special?

Firstly, there are two different varieties of the 1992 version of the coin and it can be tough to tell the difference at an initial glance.

Both varieties of the coin are similar except for how “AM” in “America” on the coin is written.

The coin featured above has the “AM” letter very close to each other and nearly touching.

In comparison, the other variety of the coins has the “AM” letters spread out further.

But keep in mind that the one featured above is quite rare – justifying why it sold for more than $25,000 in 2017.

“It is approximated that only 10 or so of the Close AM coins exist,” said Coinappraiser, a site that claims it has a group of industry professionals.

“Not many have been certified by the leading coin grading services.”

Considering the coin sold for over $25,000, that would mean that the Denver minted penny is worth 250,000,000% more than its original value.

But keep in mind that how much the value of the coin could depend on grade and condition in addition of the variety of the coin.

Recently in September 2021, the other variety of the Lincoln coin sold for just $9 on eBay.

Meanwhile, there is one with a close “AM” listed on eBay currently with an auction slated to end in less than 20 hours.

The current bid is $205.50, at the time of this writing.

Furthermore, a 1909 S VDB Lincoln recently sold for $1,500.

Is your small change worth a fortune?

If you believe that you have a rare coin then you might hold some serious value.

The most valuable coins are usually those with a low mintage or an error, as they’re deemed the most valuable by collectors.

To check out if your coins are worth anything on eBay, search the full name, select the “sold” listing and then toggle the search to “highest value.”

It will give you an idea of the amount of money that the coin is going for.

You can either choose to sell the coin on eBay or through a specialist site such as Coinappraiser or USA Coin Book.

If you choose eBay, remember to set a minimum price that is higher or at the very least equal to the face value of the coin – or you could lose money.

You also need to be aware that even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will pay up.

According to eBay’s terms and conditions, bidders enter a “legally binding contract to purchase an item.”

However, there’s no way of enforcing this rule.

The most eBay can do is add a note to their account for the unpaid item or remove their ability to bid and buy.

Some other rare coins that have sold online include a buffalo coin with three legs for $1,400 online along with a Flying Eagle cent sold, which sold for $11,128.

We’ve also rounded up the most valuable error coins.

This post first appeared on thesun.co.uk