1992 D Close AM Transitional Variety FS-901
Until 1992, both proof and business strike
Lincoln cents were made using the same
type of reverse die all with a
Wide AM.  In
1992 the mint created a new reverse with a

Close AM
that seems to be intended for use
starting  with a with 1993 cents.  All 1993
cents, proof and business strikes, have a
Close AM reverse.    However, 1992 and
1992 D business strike cents have been
found with
Close AM reverses.   1992 D
Close AM's are considered extremely rare.  
1992 (P) cents with a Close AM reverse are
even rarer.

This coin has been listed as FS-901 by the
authors of the Cherrypicker's Guide to Die

On 7/12/2012 a 1992 D Close AM graded
PCGS MS64RD sold for $20,700 on
Heritage Auctions.

On 7/30/2012 a 1992 Close AM graded
PCGS MS67RD sold for $24,057 on Ebay.   

Click here for more information about Wide
and Close AM varieties.

Photos courtesy of Josh Haynes.