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

A Guide Book of United States Coins "Redbook" 2024 Hardcover

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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