Transitional Lincoln Cents

TRANSITIONAL LINCOLN CENTS

In numismatics, Transitional refers to highly collectible coins struck when the U.S. Mint altered a coin’s metal composition or design.  These errors occur when leftover planchets from an older year – or unintended die designs – are mistakenly fed into the coining press alongside new issue. In this article, we will be reviewing Transitional Lincoln Cents.

The most prominent transitional cents include:

• The 1943 Transition:  In 1943, the U.S. Mint transitioned from a solid 95% copper composition to 99% low-carbon steel coated with a thin layer of zinc to prevent rusting.  This unique composition was used only in 1943 to conserve copper for World War II.  Transitional errors occurred at all three mints.  

Notable 1943 Transitional Cent Auction Sales

1943 (Philadelphia Mint) Bronze Cents

• AU58 (PCGS): Sold for$218,500 at Heritage Auctions, January 2010.
• MS63 Red (PCGS): Sold for over $1,000,000 via Private sale via Bob Paul Rare Coins, 2011).

1943-D (Denver Mint) Bronze Cents

• MS64 Brown (PCGS): Estimated value at $1,500,000 by PCGS.
• An authenticated 1943-D bronze cent holds the all-time auction record for the series, previously selling for $1.7 million.

1943-S (San Francisco Mint) Bronze Cents

• XF45 (PCGS): Sold for $186,000  (Heritage Auctions, July 2019).
• AU50 (GreatCollections): Sold for $298,125 (November 2022).
• AU55 (NGC / PCGS): Sold for $240,000 (Heritage Auctions, April 2021) and $264,000 (January 2025).
• AU58 Brown (PCGS): Sold for $282,000 (2016).

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• The 1982 Transition:  In 1982, the U.S. Mint transitioned from a solid 95% copper composition to a cheaper 2.5 gram copper-plated zinc core to save money.  As a result, 1982 is known as a transition year, with both large and small date varieties existing in both metals.  Rare transitional errors occurred when 1982 Small Date Dies were accidentally struck on the heavier 3.1 gram copper planchets.  

Notable 1982-D Small Date Transitional Cent Auction Sales

• $18,800: The original discovery coin (graded NGC AU-58) found by a collector in Minnesota, sold at a Stack’s Bowers auction in 2017.
• $10,800: A second example (also graded AU-58) that surfaced in a Heritage Auctions sale in 2019.

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• The 1992 Transition:  A rare transitional variety exists for both Philadelphia and Denver mints, where 1992 dated cents were struck with a “Close AM” die that was actually intended for use on 1993 coins.

The difference lies in the spacing of the letters A and M in the word “AMERICA” on the reverse.  The transitional “Close AM” show the A and M nearly touching or appear extremely close together.  The standard (non-transitional) coin displays a clearly visible gap between the two letters.

Notable 1992 & 1992-D Transitional Cent Auction Sales

• $25,850.00: January 2017 Heritage Auctions sale of a 1992-P Close AM cent graded MS67 Red.
• $24,056.63: July 2012 eBay sale of a 1992-P Close AM cent graded MS67 Red (discovered in circulation).
• $20,700.00: July 2012 Heritage Auctions sale of a 1992-D Close AM cent graded MS64 Red and Brown.
• Estimated Values by Grade

Circulated (AU55) examples normally trade between $2,100 and $2,500. Prices increase rapidly for Mint State (MS) preservation:

1992-P (Philadelphia):  $7,000 in MS63 Red

• 1992-D (Denver):  $3,750 in MS63 Red

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• Off-Metal Mules:  Occasionally, planchets from previous years are unintentionally struck.  For example, highly prized 1983 and 1990-D Lincoln Cents have been discovered struck on solid copper pre-1983 planchets instead of the intended zinc.     

Notable 1983 Transitional Cent Auction Sales

• $29,250 (July 2024): The finest known example, graded PCGS MS65RD, sold at a Great Collections auction.
• $23,500 (December 2013): A PCGS MS62RB example set an early benchmark for this error.
• $22,325 (February 2015): A PCGS MS62BN example was sold through Stack’s Bowers.
• $18,800 (April 2014): Heritage Auctions sold a PCGS MS63RB.
• $16,450 (August 2014): Heritage Auctions sold a PCGS AU55.
• $11,750 (November 2015): Stack’s Bowers auctioned an AU58BN.
• $9,000 (March 2024): An NGC MS64RB example crossed the block in a Stack’s Bowers auction.
• $3,900 – $4,050: Several circulated or lower-tier Mint State (MS61) specimens have sold in this range over the past decade through firms like Heritage Auctions.

Notable 1990-D Transitional Cent Auction Sales

• $5,640:  Graded MS64 Brown by PCGS. Sold by Heritage Auctions. This piece weighed 3.1 grams, corresponding to the older pre-1983 planchet standard.
•  $5,600: A verified transitional striking sold privately among high-end error collectors.