1916 Penny Value (Errors List, “D”, “S” & No Mint Mark Worth)

The rarity of 2016 pennies varies significantly depending on mint marks and condition, making them an intriguing study for collectors.

While most 2016 Lincoln cents remain common circulation coins, certain varieties command premium prices. The 2016-D penny, for instance, ranges from $7.01 in Good condition to over $1,500 in Mint State, while the even scarcer 2016-S version can reach $517.50 in top grades.

The most elusive 2016 Proof penny represents the pinnacle of rarity, valued at $3,658.00, making it a true prize for serious numismatists seeking to complete their Lincoln cent collections.

 

1916 Penny Value By Variety

Not all 1916 pennies are created equal—the mint mark (or lack thereof) under the date determines whether you’ve found a common piece or something collectors actively hunt for.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1916 Penny Worth Money

The 1916 Lincoln Wheat Penny stands among the elite of early wheat cent collecting, with exceptional examples commanding prices that rival luxury automobiles.

The auction record of $36,000 for a PCGS MS68RD specimen in 2025 demonstrates the extraordinary premium collectors place on superior preservation from this early era of Lincoln cent production.

High-grade 1916-D cents are particularly coveted, with specimens reaching into five-figure territory based on their scarcity in pristine condition. Even 1916-S examples have achieved significant prices, with an MS65 specimen selling for $27,600.

The value differences between circulated and uncirculated examples illustrate how condition drives pricing in the wheat penny market.

Also Read: Lincoln Wheat Penny Value (1909-1958)

 

History Of The 1916  Penny

The 1916 penny represents a pivotal moment in American coinage history, falling just seven years into the groundbreaking Lincoln cent series.

When the first Lincoln penny debuted in 1909 to commemorate Abraham Lincoln’s 100th birthday, it marked an unprecedented moment—the first time any US coin had featured the image of a real person rather than the symbolic Lady Liberty.

The designer behind this revolutionary coin was Victor David Brenner, whose artistic vision came with its own drama. Brenner originally wanted to sign the portrait directly, but was told this wouldn’t be appropriate. So he added his initials to the reverse instead.

However, when the first coins were released on August 2, 1909, public outcry erupted—critics said the initials were too large and prominent. The controversy was so intense that coin production was halted just four days later on August 6, 1909. Rather than resize the initials, the Mint simply removed them altogether, creating what we now know as the “unsigned” Lincoln cent design.

By 1916, this design had matured into stable production across three mints. Philadelphia struck 131,832,627 coins, while Denver produced 35,956,000 and San Francisco minted just 22,510,000. Additionally, the Philadelphia Mint created only 1,050 proof coins that year—establishing the rarity hierarchy that collectors still recognize over a century later.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1916 Penny Rare?

For collectors seeking to verify rarity ratings and current market positioning of wheat pennies, our CoinValueChecker App provides comprehensive analysis across all Lincoln cent varieties.

 

Key Features Of The 1916 Penny

Understanding what makes a 1916 penny authentic requires knowing its distinctive design elements and physical characteristics—details that separate genuine coins from reproductions and help you spot the valuable varieties.

The Obverse Of The 1916 Penny

The obverse features Victor David Brenner’s iconic Lincoln profile portrait that’s remained essentially unchanged for over a century. Lincoln faces right, with “LIBERTY” inscribed to his left and the year “1916” to his right. Arching across the top is “IN GOD WE TRUST.”

The mint mark, if present, appears directly below the date—look for a small “D” for Denver or “S” for San Francisco. Philadelphia coins have no mint mark.

The Reverse Of The 1916 Penny

The reverse displays Brenner’s original wheat design—two stylized wheat ears that curve up either side of the coin, earning these the nickname “Wheat pennies.”

The center features “UNITED STATES OF AMERICA” with “ONE CENT” below it, indicating the coin’s denomination. You’ll also find “E PLURIBUS UNUM” (Latin for “out of many, one”) inscribed as part of the design.

Other Features Of The 1916 Penny

The 1916 penny measures exactly 19mm in diameter and weighs 3.11 grams. The composition is 95% copper with 5% tin and zinc—the standard formula used throughout the early Lincoln cent era.

The coin has a plain edge and, when well-preserved, exhibits sharp strikes with great luster that can sometimes resemble proof quality. This robust construction helped many examples survive over a century of circulation.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1916 Penny Mintage & Survival Data

The issuance and extant data of the 1916 Lincoln Wheat Penny reveal a contrast. The Philadelphia Mint produced over 131 million coins, far outnumbering the 35.96 million coins minted in Denver and the 22.51 million coins minted in San Francisco.

However, the extant rates present a different scenario. Despite the Philadelphia – minted coins having the largest circulation volume, their extant rate is merely 0.0034%, with around 4,500 coins remaining to date.

In comparison, the Denver – minted and San Francisco – minted coins have extant rates of 0.0028% and 0.0031% respectively, with 1,000 and 700 coins still in existence. Only 1,050 proof coins were issued, and their extant rate is 4.76%, with only 50 such coins preserved.

These data reflect the substantial wear and tear of the circulated coins during daily use at that time. This forms a stark contrast to the careful preservation of the proof coins by collectors.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1916 Penny Value

Valuing your 1916 penny requires understanding its age and scarcity. Check for mint marks—none (Philadelphia), D (Denver), or S (San Francisco)—located below the date.

As a Wheat penny over a century old, even well-worn examples hold collectible value ranging from $0.50-$3. Better-preserved coins with readable wheat stalks and clear details can fetch $10-$50, while uncirculated specimens may exceed $100. The 1916-S is particularly scarce and commands premium prices.

Condition assessment for these older coins requires expertise to evaluate wear patterns accurately. Our CoinValueChecker App will check the grade directly with professional precision.

 

1916 Penny Value Guides

• 1916 No Mint Mark (Philadelphia)— 131,832,627 mintage, most common variety.
• 1916-D (Denver)— 35,956,000 mintage with “D” below date. Often weaker strikes make sharp examples coveted.
• 1916-S (San Francisco)— 22,510,000 mintage with “S” below date. Cleaner strikes and sharper details. Similar values to Denver issues.
• 1916 Proof— Only 1,050 minted at Philadelphia. Matte finish, squared rims, razor-sharp details.

These four 1916 varieties demonstrate how production numbers create a clear value hierarchy. Philadelphia’s massive 131 million coin mintage makes no-mint-mark examples the most common and affordable entry point.

Denver and San Francisco produced significantly smaller quantities—35.3 million and 22.5 million respectively—which translates directly into higher collector premiums for these mint-marked varieties.

At the top of this hierarchy sit proof coins, where scarcity reaches extreme levels. With only 1,050 examples featuring distinctive matte finishes and razor-sharp details, they represent the ultimate 1916 penny prize.

This production-based rarity structure explains the dramatic price gaps: while common Philadelphia examples can start under a dollar, proof specimens command $1,000+ premiums that reflect their genuine scarcity.

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1916 No Mint Mark Penny Value

The 1916 Philadelphia penny stands out for its exceptional production quality among early Lincoln cents.

These coins were struck with such precision that many high-grade uncirculated examples resemble proof coins, displaying sharp strikes, brilliant luster, and clean fields with a distinctive light granular texture. This superior striking quality can make authentication challenging since regular business strikes often mimic proof characteristics.

Color designation creates dramatic value differences across all grade levels. Red (RD) coins command the highest premiums, with Heritage auction records showing steady price escalation: MS65 sold for $234, MS66 for $990, and MS67+ for $6,300. The current record holder is an MS68RD that achieved $36,000 in January 2025.

Red-Brown (RB) specimens retain partial original copper luster but typically trade at substantial discounts compared to full red examples. Brown (BN) coins offer the most affordable uncirculated option for budget-conscious collectors.

Rarity emerges from preservation challenges rather than low mintage numbers. Despite Philadelphia producing 131 million coins, high-grade examples with original red surfaces remain scarce because copper naturally oxidizes over time, causing most survivors to tone to brown or red-brown colors.

Recent auction records reveal a strong upward price trajectory, particularly for high-grade examples reaching new market peaks.

Market activity has surged dramatically in recent months, indicating heightened collector interest and trading volume.

 

1916-D Penny Value

The 1916-D penny represents a significant collecting challenge due to Denver’s smaller mintage of 35,956,000 coins and characteristic production issues.

Denver mint coins from this period often exhibit weaker strikes compared to Philadelphia examples, making sharply detailed specimens particularly coveted among collectors.

This strike quality variance directly impacts valuations across color grades. Red (RD) examples command substantial premiums, a MS67RD achieving $58,750 at auction in February 2016.

Brown (BN) coins, while fully oxidized, remain collectible with a MS66BN achieving $3,120 at Stack’s Bowers in June 2023. Red-Brown (RB) examples fall between these extremes, offering partial original luster at more accessible price points.

The combination of lower mintage numbers and striking challenges creates a coin where condition and color preservation determine significant value differences, making the 1916-D a true semi-key date in the early Lincoln cent series.

Recent auctions show climbing values with periodic volatility.

Trading volume patterns reflect intensified collector engagement, showing pronounced fluctuations throughout the tracking period.

 

1916-S Penny Value

The 1916-S penny creates an unusual market situation. Despite producing only 22.5 million coins—the lowest regular strike mintage—it often outperforms the 1916-D in high grades. The reason is production quality. San Francisco delivered consistently cleaner strikes and sharper details. Denver’s output was more variable. This means fewer 1916-S coins exist, but more survive in premium condition.

This quality advantage shows up directly in prices. In MS63+ grades, 1916-S specimens frequently cost more than Denver examples. This defies traditional rarity logic. Collectors understand that finding a well-struck San Francisco coin is harder than locating a poorly struck Denver piece.

Auction records prove this premium across all colors. Red (RD) specimens represent the top tier. Their extreme scarcity makes them conditional rarities. Red-Brown (RB) examples show strong demand. A MS65RB achieved $2,990 in August 1999. Brown (BN) coins maintain significant value too. A MS66BN sold for $2,880 in September 2019.

The 1916-S earns semi-key status through a specific combination. It offers meaningful scarcity plus superior preservation potential. This creates genuine collecting challenges beyond simple mintage numbers.

Auction results reveal significant price volatility with notable peaks across different market periods.

Market activity shifted from stable baseline levels to heightened trading intensity beginning in spring 2025.

 

1916 Proof Penny Value

The 1916 Proof Lincoln cent represents the absolute rarity pinnacle of early proof production with only 1,050 coins minted. These coins feature the distinctive matte finish characteristic of early proof Lincoln cents, with squared-off rims and exceptionally sharp striking details.

The proof finish creates a granular, non-reflective surface that differs markedly from later brilliant proofs. Authentication remains critical since some well-struck business strikes can closely resemble proof coins.

Color preservation determines extreme value variations across designations. Red (RD) specimens are exceptionally scarce with complete original copper surfaces. The PCGS auction record shows a PR67RD achieving $34,500 in October 2011.

Red-Brown (RB) examples represent the most commonly surviving color grade, as the Mint’s sulfur-containing tissue paper packaging caused natural toning over decades. Brown (BN) coins, while fully oxidized, maintain significant collector value due to the minuscule original mintage of just 1,050 pieces.

The combination of lowest proof mintage and superior striking quality establishes the 1916 Proof as a cornerstone rarity in Lincoln cent collecting.

Auction records show strong recent price action for high-grade coins, with significant price increases.

Trading activity peaked in the spring and has since gradually receded to more normal levels.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1916 Penny Errors List

Genuine 1916 penny errors are extremely rare, with most alleged examples being post-mint damage rather than mint-made errors. One documented case exists—a 1916 Philadelphia cent with lamination traces on Lincoln’s head and neck. Since authentic 1916 errors are so scarce, collectors should understand common Lincoln wheat penny error types found throughout the series.

1. Double Die Errors

These occur when design elements are impressed multiple times at slightly different positions, creating doubled letters, numbers, or features. The most prominent doubling typically appears in inscriptions or dates. Values range from hundreds to thousands of dollars based on severity and condition.

2. Lamination Errors

Metal impurities or internal stresses cause layers to peel from the coin’s surface, resulting in discoloration, uneven surfaces, or flaking. Professional authentication is essential since post-mint damage can mimic genuine lamination flaws. Values typically range from $25 to several hundred dollars.

3. Off-Center Strikes

When planchets aren’t properly aligned during striking, the design appears partially off the coin. Value depends on the percentage off-center and date visibility. Minor examples (5-10% off-center) sell for $10-20, while dramatic strikes (50%+ off-center) can reach hundreds of dollars.

4. Die Crack Errors (BIE Pennies)

Die deterioration creates raised lines on coins. Lincoln cents commonly develop vertical cracks between the “B” and “E” of “LIBERTY,” resembling the letter “I.” These popular BIE errors typically trade for $5-10, with sharp early die states commanding up to $25.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where To Sell Your 1916 Penny?

Now that you know your 1916 penny’s potential, the real challenge begins: finding the right buyer willing to pay what it’s worth. The selling landscape has shifted dramatically with online platforms revolutionizing how collectors connect.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1916 Penny Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1916 Penny

1. How much is a 1916 penny worth?

A 1916 penny’s value ranges from $3 for worn examples to over $36,000 for exceptional specimens. Values depend on mint mark, condition, and color designation. Philadelphia coins are most common, while Denver and San Francisco command premiums. Proof coins start at $1,000+, with the record being an MS68RD at $36,000.

2. How many 1916-D pennies were made?

The Denver Mint produced 35,956,000 pennies in 1916. While this represents a significant mintage, it’s much lower than Philadelphia’s 131 million coins. Denver’s production often resulted in weaker strikes compared to other mints, making sharply detailed 1916-D specimens particularly coveted and valuable among collectors today.

3. Is a 1916-S penny rare?

The 1916-S is moderately rare with the lowest regular strike mintage at 22.5 million coins. Despite this scarcity, San Francisco’s superior production quality means high-grade examples often outperform Denver coins in value. It’s considered a semi-key date that creates genuine collecting challenges, especially in uncirculated conditions with original surfaces.