The 1916 Lincoln Wheat Penny is a cherished piece of American numismatic history. Minted over a century ago, this coin is part of the early Lincoln cent series that began in 1909. Its historical significance, modest mintage, and various mint mark variations make it a sought-after collectible for both novice and experienced coin collectors. In this article, we’ll explore the origin, features, value, and tips for collecting the 1916 Lincoln Wheat Penny.
A Brief History of the Lincoln Wheat Penny
Introduced in 1909 to commemorate the 100th anniversary of Abraham Lincoln’s birth, the Lincoln Wheat Penny (also called the Lincoln Cent) replaced the Indian Head cent. Designed by Victor David Brenner, it was the first U.S. coin to feature a real person’s portrait, breaking away from the tradition of using allegorical figures.
The reverse side of the coin features two wheat stalks, giving the coin its nickname—Wheat Penny. The Wheat Penny design lasted until 1958 when it was replaced by the Lincoln Memorial reverse.
The 1916 Lincoln Wheat Penny: Key Facts
Here are the essential details of the 1916 Lincoln Wheat Penny:
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% tin and zinc
- Diameter: 19.05 mm
- Weight: 3.11 grams
- Edge: Plain
- Mints: Philadelphia (no mint mark), Denver (D), San Francisco (S)
Mintage Numbers:
- Philadelphia (no mint mark): 131,833,677
- Denver (D): 35,956,000
- San Francisco (S): 22,510,000
Design Features
The obverse of the 1916 penny shows a right-facing bust of President Abraham Lincoln, with the words “IN GOD WE TRUST” above, “LIBERTY” on the left, and the date “1916” on the right.
The reverse features two wheat ears on the left and right rims, with the inscriptions “ONE CENT”, “UNITED STATES OF AMERICA”, and “E PLURIBUS UNUM” across the top.
Mint Mark Variations and Their Significance
Mint marks can greatly affect a coin’s value. Here’s how each 1916 Lincoln Wheat Penny variant stacks up:
1. 1916 (No Mint Mark – Philadelphia)
This is the most common of the three. With over 131 million struck, it’s generally easy to find in circulated condition.
2. 1916-D (Denver Mint)
Less common than the Philadelphia version, the 1916-D is moderately scarce in higher grades and is more valuable in mint state or uncirculated conditions.
3. 1916-S (San Francisco Mint)
This is the scarcer variety among the three. The San Francisco mint produced fewer pennies in 1916, and high-grade examples are harder to come by.
1916 Lincoln Wheat Penny Value Guide
The value of a 1916 Lincoln Wheat Penny depends heavily on its condition and mint mark. Here’s a general breakdown based on current market trends:
| Coin | Good (G-4) | Fine (F-12) | Extremely Fine (EF-40) | Uncirculated (MS-60+) |
|---|---|---|---|---|
| 1916 (No Mint Mark) | $0.25 – $1 | $1 – $3 | $5 – $10 | $25 – $75+ |
| 1916-D | $1 – $3 | $4 – $8 | $20 – $50 | $75 – $200+ |
| 1916-S | $2 – $5 | $6 – $12 | $25 – $60 | $100 – $250+ |
Key Notes:
- Coins with red luster (MS-65 RD) can fetch significantly higher prices—sometimes over $1,000 at auction.
- Full strike coins with sharp details are more desirable to collectors.
- Coins with original, unaltered surfaces (i.e., no cleaning or corrosion) hold higher premiums.
How to Grade a 1916 Lincoln Penny
Grading determines a coin’s condition and thus its value. Here are the general grading descriptions:
- Good (G-4): Heavily worn, with major features visible but faint.
- Fine (F-12): Moderate wear with most lettering and Lincoln’s profile visible.
- Extremely Fine (EF-40): Minor wear with clear details and sharp lettering.
- Mint State (MS-60+): No wear; may have minor bag marks or surface blemishes.
Professional grading services like PCGS and NGC can provide authentication and precise grades that add value, especially for rare varieties.
Collecting the 1916 Lincoln Wheat Penny
Whether you’re completing a Lincoln cent collection or just interested in early 20th-century U.S. coinage, the 1916 penny is a rewarding addition. Here are tips for collectors:
- Start with Circulated Coins: Affordable and easy to find, these coins are great for beginners.
- Seek High-Grade Specimens: If budget allows, invest in coins graded MS-63 or higher.
- Pay Attention to Mint Marks: 1916-S and 1916-D coins often have higher collector demand.
- Avoid Cleaned Coins: Cleaning reduces a coin’s value. Always opt for original surfaces.
- Consider Certified Coins: Professionally graded coins ensure authenticity and offer better resale potential.
Errors and Varieties
Although the 1916 Lincoln penny doesn’t have many known major errors, always be on the lookout for:
- Off-center strikes
- Double die obverse (DDO)
- Repunched mint marks (RPM)
These error coins can command a premium depending on rarity and condition.
Where to Buy or Sell a 1916 Wheat Penny
If you’re looking to buy or sell a 1916 Lincoln penny, here are trusted options:
- Online marketplaces like eBay or Etsy (ensure seller reputation and return policies)
- Professional coin dealers and coin shows
- Auction houses like Heritage Auctions or Stack’s Bowers
- Online numismatic forums and collector groups
Always request clear photos and, if possible, third-party grading information before buying.
Final Thoughts
The 1916 Lincoln Wheat Penny is more than just a vintage coin—it’s a piece of American history. Whether you’re an avid collector or a casual enthusiast, this coin offers a combination of historical charm, collectibility, and investment potential. Its availability in various grades and mint marks makes it suitable for collectors at all levels.
As coin collecting continues to grow in popularity, the 1916 Lincoln penny remains a staple in the hobby and a valuable artifact for generations to come.