As jelida said, it's the proto-1927 reverse, not the real 1927 reverse (Freeman didn't distinguish between the two). The four different 1922-dated pennies are: Freeman 192: 3+B/Gouby C+b Freeman 192A: 3+C/Gouby C+c Freeman -: 3+C/Gouby C+d (the proofs for the 1924 proof sets) Freeman 192B: 4+C/Gouby D+d (the one secret santa is referring to, first mentioned at http://www.predecimal.com/forum/topic/9753-1922-penny-with-1927-reverse-confirmation/?p=125335) I hope I got that all correct! Mr T, I think you are right about your last two examples, but "all" reference books refer to the F192A, as the 1922, with 1927 Reverse. The F192A is very rare. but the other (last) two examples you mention are almost unobtainable. I think the F192B might be the "Specimen" 1922/27. (not sure though, as I have never seen one, unless the recent Heritage auction example was one.) Above are pics of my F192A...