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1916 Lincoln Wheat Penny Value: How Much Is This Cent Worth Today?
The 1916 Lincoln Wheat Penny is a coin with historical significance. This penny belongs to the Lincoln Wheat series, which began in 1909 and ended in 1958.
The year 1916 marks an important point in this coin's history, as it was minted during a time of economic change in the United States.
Design Elements
The 1916 Lincoln Wheat Penny features distinct design elements on both sides.Obverse Design:
- A profile portrait of Abraham Lincoln faces right
- The word "LIBERTY" appears on the left edge
- The date "1916" is below Lincoln's bust
- The motto "IN GOD WE TRUST" arches above
Reverse Design:
- Two wheat stalks frame the edges
- "ONE CENT" is prominently displayed in the center
- "UNITED STATES OF AMERICA" arches above
- "E PLURIBUS UNUM" is below "ONE CENT"
Minting Details
The U.S. Mint produced the 1916 Lincoln Wheat Penny at three locations:
- Philadelphia: No mint mark, 131,833,677 coins produced
- Denver: "D" mint mark, 35,956,000 coins produced
- San Francisco: "S" mint mark, 22,510,000 coins produced
Mint marks appear on the obverse, below the date.
Composition and Physical Characteristics
The 1916 Lincoln Wheat Penny has specific physical properties:
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 grams
- Diameter: 19.00 mm
- Edge: Plain
This composition gives the coin its distinctive reddish-brown color.
Key Dates and Varieties
Among the 1916 pennies, some are rarer than others:
- 1916-S: Lowest mintage, considered the key date
- 1916-D: Less common than Philadelphia but more available than San Francisco
- 1916 (Philadelphia): Most common, but high-grade examples are valuable
Grading
Coin grading affects the value of 1916 Lincoln Wheat Pennies:
- Uncirculated (MS-60 to MS-70): No wear, original mint luster present
- Extremely Fine (EF-40 to EF-45): Slight wear on high points, some luster remains
- Fine (F-12 to F-15): Moderate wear, major features clear but flattened
- Good (G-4 to G-6): Heavy wear, main features visible but lacking detail
Values
The value of a 1916 Lincoln Wheat Penny depends on several factors:
- Mint mark
- Condition
- Rarity
- Demand
A general value guide (as of 2024):
| Date | VF-20 | EF-40 | MS-60 |
|---|---|---|---|
| 1916 | $3 | $9 | $20 |
| 1916 (D) | $6 | $15 | $100 |
| 1916 (S) | $15 | $30 | $115 |
(S) minted in San Francisco. (D) minted in Denver.
Rare, high-grade specimens can fetch much higher prices at auctions.
Valuation Source: The Official Red Book 77th Edition 2024
Minting Errors and Varieties
Some 1916 Lincoln Wheat Pennies have valuable errors:
- Doubled Die Obverse: Shows doubling in the date or lettering
- Off-Center Strikes: Part of the design is missing due to misalignment
- Repunched Mint Marks: Mint mark appears to be stamped multiple times
These errors can significantly increase a coin's value.
Collecting Tips
To identify authentic 1916 pennies:
- Check the mint mark location
- Examine the overall design details
- Use a magnifying glass to spot subtle features
For preservation:
- Store coins in non-PVC holders
- Keep them in a cool, dry place
- Handle coins by their edges to avoid damaging surfaces
Historical Context
In 1916, the United States was on the brink of entering World War I. The penny played a crucial role in daily transactions, with significant purchasing power.
This historical context adds to the coin's appeal for collectors and historians alike.
Conclusion
The 1916 Lincoln Wheat Penny holds a special place in American numismatics. Its historical significance, combined with its relative scarcity, makes it a sought-after coin for collectors.
Whether you're a seasoned numismatist or a beginner, new to Lost Treasure HQ, the 1916 Lincoln Wheat Penny offers a tangible connection to early 20th-century American history.
Lincoln wheat cents were minted throughout the following years:
1909, 1910, 1911, 1912, 1913, 1914, 1915, 1916, 1917, 1918, 1919, 1920, 1921, 1922, 1923, 1924, 1925, 1926, 1927, 1928, 1929, 1930, 1931, 1932, 1933, 1934, 1935, 1936, 1937, 1938, 1939, 1940, 1941, 1942, 1943, 1944, 1945, 1946, 1947, 1948, 1949, 1950, 1951, 1952, 1953, 1954, 1955, 1956, 1957, 1958.
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