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The 1999-S Close AM Lincoln Penny is worth anywhere from $10 in circulated proof condition to over $1,200 in pristine deep cameo grades. This modern variety is a favorite among collectors because it represents a rare production mix-up that stayed hidden in plain sight for years.
| Condition / Grade | Estimated Market Value |
|---|---|
| PR 65 Deep Cameo | $25 – $45 |
| PR 68 Deep Cameo | $75 – $150 |
| PR 69 Deep Cameo | $185 – $400 |
| PR 70 Deep Cameo | $1,100 – $1,500+ |
Understanding the Rare 1999-S Close AM Variety
The 1999-S Close AM Lincoln Penny is what numismatists call a “mule” or a transitional error. It occurred when the San Francisco Mint used a reverse die intended for business strike coins (meant for circulation) on a proof planchet meant for collectors.
This specific mistake is easy to miss if you aren’t looking closely at the back of the coin. If you are going through a collection, using a top coin identifier app can help you confirm the subtle details that separate common proofs from this high-value variety.
Collectors hunt for these because only a small number of proof sets were struck with the wrong die. Unlike the more famous 1992 Close AM, which was a circulation error, the 1999-S is exclusively found in Proof Sets. If you have been using the CoinKnow app to track your inventory, you should definitely double-check every 1999-S penny you own.
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How to Identify a 1999 Close AM Proof Penny
Identifying this coin requires a sharp eye and perhaps a magnifying glass or a jeweler’s loupe. On the reverse side of the penny, look at the “A” and “M” in the word “AMERICA.” On the rare 1999-S Close AM variety, the bases of these two letters are almost touching.
On the standard proof coin, which features the “Wide AM” design, there is a clear and distinct gap between the letters. Another tell-tale sign is the position of the designer’s initials (FG) located to the right of the Lincoln Memorial. On the Close AM version, the FG is further away from the building.
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Checking these details is essential because most 1999-S pennies are the common “Wide AM” type. The current 1999 Lincoln Cent price trends show that while common proofs are worth only a few dollars, the Close AM variety is a significant jackpot for any hobbyist.
Grading and Value Factors for 1999-S Proof Pennies
Since these coins were issued in protective plastic sets, most survive in excellent condition. However, “excellent” ranges from PR 67 to a perfect PR 70. Small scratches on the case or haze developing on the surface can lower the grade.
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Copper coins are also graded by their color. Red (RD) is the most desirable, followed by Red-Brown (RB) and Brown (BN). In the case of proof coins, collectors look for the ultra-mirrored fields and frosted details known as “Deep Cameo” or “Ultra Cameo.”
| Color Grade | Typical Value (PR 69) | Market Rarity |
|---|---|---|
| Red (RD) | $250 | Target Standard |
| Cameo | $150 | Common |
| Deep Cameo | $350 | Highly Coveted |
Comparison Between Wide AM and Close AM Hubs
The 1990s was a decade of transition for the US Mint regarding hub designs. In general, proof coins were supposed to have the “Wide AM” reverse, while business strikes for pocket change were supposed to have the “Close AM” reverse.
The 1999-S Close AM is an error because it used the circulation hub on a proof coin. Conversely, the 1999 Philadelphia (No Mint Mark) penny is rare if it has the “Wide AM” (stolen proof hub) on a business strike. When you use CoinKnow, you can quickly compare photos of these different hub types to see exactly what you have in your hand.
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Understanding these technical differences is what allows you to find value in “ordinary” change. Most people assume all 1999 pennies are the same, but the 1999 Lincoln Penny Red MS details reveal a wide spectrum of prices based on these tiny engineering variations.
Where to Buy and Sell Rare 1999-S Pennies
If you believe you have discovered one of these rare varieties, your first step should be to have it verified by a professional. Sites like eBay are popular for selling, but premium prices are only achieved once the coin is “slabbed” (certified) by a grading service like PCGS or NGC.
Local coin shops are great for quick cash, but they may offer a wholesale price. To get the full enthusiast value, online auctions are often the best route. Always ensure your photos are clear and focused specifically on the “AM” in “AMERICA.”
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| Sales Platform | Pros | Cons |
|---|---|---|
| Heritage Auctions | Highest possible prices | High commission fees |
| eBay | Largest buyer pool | Risk of returns/scams |
| Coin Shops | Instant payment | Lower offer price |
Why the 1999-S Close AM Penny is a Modern Classic
Modern coin collecting has shifted toward “variety hunting.” While the 1909-S VDB is the king of classic pennies, the 1999-S Close AM is a king of the modern era. It represents the complexity of modern minting processes and the mistakes that naturally occur.
For many Americans, finding a coin worth $500 inside a set they bought for $15 is the ultimate thrill of the hobby. This coin is accessible, yet rare enough to maintain a high price floor.
As more collectors use tools like CoinKnow to filter through their collections, the number of confirmed 1999-S Close AM pennies may grow, but for now, they remain a top-tier scarcity for the Lincoln Cent series. If you find one, hold onto it—it is a true piece of numismatic history.
FAQ
Q: Is the 1999-S Close AM penny found in pocket change?
A: Highly unlikely. The “S” mint mark indicates it was produced in San Francisco as a Proof coin for collectors. You would normally only find this variety inside a 1999 Proof Set, though occasionally, someone might break a set and spend the coin.
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Q: How many 1999-S Close AM pennies exist?
A: There is no official count from the Mint since it was an error. However, population reports from grading services suggest that only a few thousand have been identified so far, making them very rare compared to the millions of standard 1999 pennies.
Q: What is the difference between Wide AM and Close AM?
A: On a Wide AM coin, the A and M are clearly separated. On a Close AM coin, the feet of the letters are virtually touching. Additionally, on the Close AM, the designer’s initials (FG) are centered between the Memorial and the rim.
Q: Is it worth grading a 1999-S Close AM penny?
A: If the coin is in great condition and you have verified it is the Close AM variety, yes. Certification usually increases the resale value significantly and makes it much easier to sell to serious collectors.