For a coin that often pops up in our change, the 2016 Penny has a surprising potential for value. Even in good condition, the 2016 Penny is worth five times its face value. On the higher end of the Sheldon Scale, a 2016 Penny can be worth $500.
In this article, we’ll be disclosing what the 2016 Penny is worth at different states of circulation and the varieties you should look out for. We also have the scoop on the most common error coins in the 2016 Penny family.
But so you can get an idea of what seven years of circulation does to the value of a Lincoln Penny, consider the table below:
Coin Valuation Chart
| Coin Condition | Estimated Value | ||
| 2016-P Penny | 2016-D Penny | 2016-S Proof Penny | |
| Circulated
(G4 – XF40) |
$0.05 | – | – |
| About Uncirculated (AU50 – AU58+) | $0.05 – $0.10 | – | – |
| Uncirculated
(MS60 – MS64+) |
$0.10 – $4 | – | $0.25 – $1.75 |
| Brilliant Uncirculated (MS65 or higher) | $2.50 – $45 | $5 – $500 | $2 – $35 |
2016 Penny: Historical Context
To understand why the 2016 Lincoln Shield Penny is what it is, you need some historical context. In 1909, the government thought it best to mark President Lincoln’s birth centennial with a penny that bore his likeness. The role of designer and engraver of this coin went to Victor David Brenner. That initial 1909 design is the same one that appears on the 2016 Penny.
As for the reverse, we’ve seen many designs over the years. There was the wheat design, the Lincoln Memorial reverse, and, in 2009, four distinct reverses for the Lincoln Bicentennial Cent.
However, with the passing of the 2005 Presidential Dollar Coin Act, a few rules were added that would dictate future designs of the Lincoln Penny. The law required post-2010 pennies to depict President Lincoln as a preserver of American unity.
Celebrated painter Lyndall Bass went with a depiction of the Union Shield. The shield had 13 vertical stripes and a single horizontal band binding the stripes. The vertical stripes on the shield represent the 13 original colonies of the U.S., while the horizontal band is symbolic of the government’s efforts in unifying the 13 states. This design was engraved by U.S. Mint sculptor and engraver Joseph F. Menna.
The Physical Attributes of the 2016 Penny
You can identify Lincoln Pennies by their physical features. The most obvious differentiation factor is color. While most U.S. coinage is silver colored, Lincoln Pennies are bronze colored, with hue variations ranging from red, red-brown, and brown.
Unlike the earlier Lincoln Pennies that were made of actual bronze, the 2016 Penny is made of copper-plated zinc. What that means is that underneath the bronze copper facade is a ton of zinc.
Coin: Physical Characteristics
| Physical Feature | Notes |
| Color | Bronze |
| Metallic Composition | 97.5% Zinc
2.5% Copper |
| Weight | 2.50 grams |
| Diameter | 19 millimeters |
| Edge | Plain |
Obverse Features
The Victor Brenner design that the U.S. Mint used on the obverse of the 2016 Penny includes the following features:
- The depiction of President Lincoln
- The “IN GOD WE TRUST” motto
- The inscription “LIBERTY“
- The mint mark “D,” “S,” or none
- The date “2016“
- The designer’s initials “VDB“
Reverse Features
As for the reverse of the coin, it includes:
- The Union Shield
- The inscription “E PLURIBUS UNUM”
- The country “UNITED STATES OF AMERICA“
- The denomination “ONE CENT“
- The designer’s initials “LB“
- The engraver’s initials “JFM“
2016 Penny: Mint Marks and Varieties
One of the factors that affect the value of the 2016 Penny is variety. And on this front, the 2016 Penny has three main varieties. Let’s break down the value of these varieties.
2016-P Penny Value
- U.S. Mint: Philadelphia
- Mintage: 4,698,000,000
- Mint Mark: None
With nearly 4.7 Billion coins struck, the 2016-P Penny had the highest mintage for that year. But remember, 2016 was only seven years ago, and there will be tons of these coins floating around. Plus, you can easily retrieve some from your pocket change. But what is the value of the 2016-P Penny?
A majority of these coins will be in circulated condition because the Philadelphia Mint struck coins for commerce. So, in circulated conditions, the value of the 2016-P penny will be ranging between five and ten cents. But you can still get them for face value if you pull them directly from circulation with some old-fashioned coin roll hunting.
But if you’re looking for the finer gems in mint condition, you’ll have to dig a little deeper and spend a little more. In this condition, the 2016-P Penny will be available in Brown, Red, and Red-Brown varieties.
Brown 2016-P Pennies will be the least valuable of the uncirculated 2016-P Pennies. These coins are plentiful until the MS67 state. Their value will be ranging between $0.10 and $7.50.
For the better-looking Red-Brown 2016-P Pennies, their values range between 50 cents in the MS60 state and $10 in the MS67 condition. And like the brown variety, these coins are plentiful, hence the low valuation.
Red 2016-P Pennies are plentiful in MS65, MS66, and MS67 states. In these conditions, they are worth $5, $12.50, and $45, respectively.
| Coin Condition | Estimated Value | ||
| Brown (BN) | Red-Brown (RB) | Red (RD) | |
| Good (G4) | $0.05 | – | – |
| Very Good (VG8) | $0.05 | – | – |
| Fine (F12) | $0.05 | – | – |
| Very Fine (VF20) | $0.05 | – | – |
| Extremely Fine (XF40) | $0.05 | – | – |
| About Uncirculated (AU50) | $0.05 | – | – |
| About Uncirculated (AU58) | $0.05 | – | – |
| Uncirculated (MS60) | $0.10 | $0.50 | – |
| Brilliant Uncirculated (MS65) | $2.50 | $5 | $5 |
| Brilliant Uncirculated (MS67) | $7.50 | $10 | $45 |
While we’ve given estimates upto the MS67 grade, it doesn’t mean that finer examples don’t exist. MS68 2016-P Pennies exist, and they are very rare. One example sold in 2018 for $899.95. At MS68, the gem is tied with three other pennies as the finest 2016-P Pennies ever graded by PCGS.
Other notable sales of 2016-P Pennies include:
| Variety | Grade | Sales Price | Auction Firm |
| Red | MS67RD | $164.50 | Heritage Auctions |
| Red | MS67RD | $152.75 | Heritage Auctions |
| Red | MS67RD | $176.25 | Heritage Auctions |
| Red | MS67RD | $235 | Heritage Auctions |
2016-D Penny Value
- U.S. Mint: Denver
- Mintage: 4,420,400,000
- Mint Mark: D
For the coinage of 2016, the Denver Mint made an unknown number of prooflike pennies. If you’re unfamiliar, prooflike coins are almost as good as proof coins, but not quite.
As of 2023, the market is flooded with red uncirculated 2016-D Pennies. The regular strikes exist in red between MS65 and MS68. The prooflike examples are plenty until the MS67 state.
So, what are they worth?
The value of a regular-struck Red 2016-D Penny ranges between $5 and $500, depending on its condition. As for the prooflike variant, there’s not enough data to plot their value on a chart. We believe they are worth $90 in the MS67 state.
| Coin Condition | Estimated Value | |
| Red Regular Strike | Red Prooflike | |
| Uncirculated (MS60) | – | – |
| Uncirculated (MS61) | – | – |
| Uncirculated (MS62) | – | – |
| Uncirculated (MS63) | – | – |
| Uncirculated (MS64) | – | – |
| Uncirculated (MS65) | $5 | – |
| Uncirculated (MS66) | $12.50 | – |
| Uncirculated (MS67) | $45 | $90 |
| Uncirculated (MS68) | $500 | – |
| Uncirculated (MS69) | – | – |
To make up for the lack of data, why don’t we study some of the notable sales involving 2016-D Prooflike Pennies? Let’s start in 2018 when a Prooflike 2016-D Penny sold on eBay for $1,550. With a grade of MS68, there’s no doubt that the coin was a beauty. It retained most of its original luster and red pigmentation.
Unfortunately, there’s not a lot of demand for these coins due to their abundant supply. And as a consequence, many of them are selling for less than their market value. Just a few years ago, a regular-struck 2016-D Penny sold for $10 despite having a grade of MS66RD.
2016-S Proof Penny Value
- U.S. Mint: San Francisco
- Mintage: 977,355
- Mint Mark: S
For almost 50 years now, the San Francisco Mint has been making proof coins for collectors. Proof coins are also made from polished dies, and they show a lot of contrast between the mirror-like field and the frosted relief.
Because 2016-S Proof Pennies skipped the circulation circuit, they will be in uncirculated condition. A majority of these coins will also be showing their deep cameo. In PR60 condition, a 2016-S Proof Penny is worth about 25 cents. In the PR65 state, the penny is worth $5, and uncirculated PR70 gems can sell for the affordable price of $20.
| Coin Condition | Estimated Value |
| Red Deep Cameo | |
| Uncirculated (PR60) | $0.25 |
| Uncirculated (PR61) | $0.50 |
| Uncirculated (PR62) | $0.75 |
| Uncirculated (PR63) | $1 |
| Uncirculated (PR64) | $1.50 |
| Uncirculated (PR65) | $2 |
| Uncirculated (PR66) | $4 |
| Uncirculated (PR67) | $6.50 |
| Uncirculated (PR68) | $8.50 |
| Uncirculated (PR69) | $20 |
| Uncirculated (PR70) | $35 |
In the open market, these coins don’t sell for much, either. In 2020, a 2016-S Proof penny sold for $167.52.It was a member of a trio that included a 1995-P Penny with a double die obverse and a 1960-D/D Penny. Even though the 2016-S Proof Penny was graded PR69DCAM, it would have never broken through the $100 milestone had it been sold alone.
One sale that can give us a more realistic picture is the 2020 auction of a slightly better-graded 2016-S Proof Penny on David Lawrence Rare Coins. The penny was graded a perfect PR70RD by PCGS. The grading service also authenticated the coin’s status as a first strike of the 2016-S Proof Penny variety. Despite all these badges and accolades, the penny only sold for $33.
2016 Penny: Error Coins to Look Out For
If you’re interested in the 2016 Penny, you should know about the common error coins in its roster. Whenever you come across a 2016 Penny, please keep an eye out for the following errors:
Double Die Errors
Double die errors arise from faulty hubs. They cause doubling around the edges of a coin’s depictions and lettering. The designations Double Die Obverse (DDO) and Double Die Reverse (DDR) are just indications of where the double die errors occur. Common double die errors among 2016 Pennies include:
Double Die Obverse (DDO) Errors
Coins with these double die errors will show doubling along the edges of characters like “LIBERTY” and “IN GOD WE TRUST.” The value of such coins will depend on their grading.
This 2016-P Penny that shows doubling around both characters. The seller of this coin believes that the cent has a potential grade of MS67. This party is willing to part ways with the coin for $24.
Double Die Reverse (DDR) Errors
While DDO occurs on the obverse, DDRs manifest on the reverse. This error can occur on the motto “E PLURIBUS UNUM,” the denomination “ONE CENT,” the country “UNITED STATES OF AMERICA,” or around the stripes of the Union Shield.
This coin almost ticks all these boxes. It is currently reserved on eBay at only $1. Besides the DDR, the coin also shows obvious DDO errors with doubling around “IN GOD WE TRUST” and “LIBERTY.”
Die Clash Errors
Although not common, die clash errors also occur among 2016 Pennies. This error arises when the dies strike without a blank planchet between them. This clash causes the dies to imprint themselves on each other. A planchet struck after a die clash will show faint outlines of the opposite die.
The perfect specimen showing this error is a 2016-P Penny that’s selling on eBay for $45. On the field of the obverse, you can see a faint impression of the Union Shield.
2016 Penny: Is it Worth Collecting?
The 2016 Penny is the perfect target for coin roll hunting. You can buy boxes and rolls of pennies and cherry-pick valuable examples. If you study the features of your coins carefully, you could stumble into some interesting examples.
But if you just want to fill that empty 2016 slot in your Lincoln album, you can find some exquisite gems for next to nothing. Proof coins can be had for as little as 25 cents.
Jenson is a professional numismatist, a dedicated coin collector, a graduate of the College of Business at Oregon State, a life member of the American Numismatic Association (ANA), and an overall coin nerd. He is the founder of Coin Value List.
Has anyone seen a shield cent with die-crack along the upper west edge of the shield? I have 2014, 2016 and 2017s with early stage die cracks along that edge (amounting to about 50% of the length of that edge) so I would think some have been found with good sized die chips there but I don’t see any listed for sale or sales records.