1916 Wheat Penny
The 1916 Wheat Penny had a massive mintage of over 131 million coins struck at the Philadelphia Mint. It could be because of this excess that this coin is extremely affordable even in Full Red versions compared to many of the other Wheat Penny coins in the series. The 1916 Wheat Penny appears to be available in many grades, from circulated to full red, and would make a great addition to help complete the Wheat Penny series collection. Continue reading to learn more about 1916 wheat penny value.
AUCTION RECORD: $2,400 • MS67RB
Image source: PCGS
History of the 1916 Wheat Penny
The 1916 Wheat Penny is an attractive coin with colors ranging from browns to deeper reds, and everything in between. When searching for the perfect coin for your collection, you should easily be able to cherrypick and find one with a sharp strike and nice luster. The Wheat Penny was designed by Victor David Brenner. President Theodore Roosevelt wanted to prepare new coin designs that had more artistic merit. He chose Brenner based on a plaque he created with Lincoln’s profile. The Wheat Penny depicts a bust and profile of Abraham Lincoln on the obverse. The reverse features two stalks of durum wheat. The Wheat Penny series is an affordable series for collectors looking to complete their project at a more accessible cost.
1916 Wheat Penny Worth
The 1916 Wheat Penny value ranges upwards of $450 for higher grade brown coins all the way up to around $8000 for the highest grade red coins. The 1916 Wheat Penny is much more readily available compared to others in the series, most likely due to the massive mintage of over 131 million. Choose wisely and you’ll have a beautiful coin to add to your collection.
Type of coin: Penny
Year: 1916 Wheat Penny
Wheat Penny Mint Mark: Philadelphia
Total mintage: 131,832,627
Metal content: 95% Copper, 5% Tin and Zinc
Face value: 1 cent
Weight: 3.11 grams
Edge: Plain
Designer: Victor David Brenner
Diameter: 19.00 millimeters
FAQ
What is the value of a 1916 Wheat Penny?
The value of a 1916 Wheat Penny typically ranges from 50 cents to several dollars for circulated coins, with uncirculated or rare varieties being worth significantly more.
Are 1916 Wheat Pennies rare?
1916 Wheat Pennies are not exceedingly rare but can be considered scarce in higher grades or with specific mint errors.
What factors affect the value of a 1916 Wheat Penny?
Condition, mint mark (if any), and rarity of errors or special characteristics impact the coin's value.
How much is a 1916 Wheat Penny with no mint mark worth?
A 1916 Wheat Penny without a mint mark, minted in Philadelphia, can range from 50 cents to $20 or more, depending on condition.
What is the highest known sale price for a 1916 Wheat Penny?
High-grade examples, especially those with rare errors, can fetch thousands of dollars at auction.
How does the mint mark on a 1916 Wheat Penny influence its value?
Pennies with the "D" (Denver) or "S" (San Francisco) mint marks can be more valuable than those without a mint mark, especially in higher grades.
What are the key features to look for in a valuable 1916 Wheat Penny?
Key features include the coin’s overall condition, sharpness of details, lack of wear, and any mint errors or anomalies.
Is it common to find 1916 Wheat Pennies in circulation today?
It is quite uncommon to find 1916 Wheat Pennies in general circulation today; most are found in collections or sold by dealers.
What should I do if I have a 1916 Wheat Penny?
Assess its condition and mint mark, and consider having it appraised by a professional to determine its value.
Can a 1916 Wheat Penny be a good investment?
Depending on its condition and rarity, a 1916 Wheat Penny can be a good investment, particularly if it is a high-grade coin or has rare features.
How does the condition of the coin affect the 1916 Wheat Penny Value?
The better the condition (less wear, strong details), the higher the value, with uncirculated coins fetching the highest prices.
What errors or varieties should I look for in a 1916 Wheat Penny?
Look for doubled dies, repunched mint marks, and off-center strikes, as these errors can significantly increase the coin’s value.
Where can I sell a 1916 Wheat Penny?
You can sell it to coin dealers, at coin shows, through online auctions, or to collectors directly, depending on the coin’s value and condition.
What historical significance does the 1916 Wheat Penny hold?
The 1916 Wheat Penny is part of the early years of the Lincoln Wheat cent series, representing an era of American history and numismatics.
How can I accurately determine the grade of my 1916 Wheat Penny?
Accurate grading can be done by a professional grading service or experienced coin dealer, considering factors like wear, luster, and any noticeable marks or features.
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