About The 1916 Wheat Penny
1916 Wheat Penny Facts
The 1916 Wheat Penny was minted in 1916 at the Philadelphia Pennsylvania mint. In 1916 there were 131,833,000 1916 pennies minted in all. Of course this figure doesn’t reflect the mint proofs that could have been minted that year at the Philadelphia mint and only includes the amount of 1916 Wheat Pennies that were poured into circulation.
How Many 1916 Wheat Pennies Were Minted?
1916 Amount Minted 131,833,000
How Much Is A 1916 Wheat Penny Worth?
The 1916 Wheat Penny is worth between .75 cents and $45.00 on average.
This value is strictly based on the coins grade and desirability (amount minted) and doesn’t take current copper spot prices into account as these coins are made of 95% copper (except for the 1943 PS&D steel Wheat Penny) and copper prices are based upon the economy and the global stock market. This value is not iron clad, though the value of Wheat Pennies as a whole have slightly increased every single year by a small margin.
These days copper is all but considered a precious metal. And although the Wheat Penny is made of 95% copper, coin collectors don’t specifically value a coin based upon its make up, but rather its condition and overall desirability. The desirability can vary from coin to coin and is usually based upon the luster, overall condition, amount originally minted of that particular coin, year and mint mark. For instance, coins with a low mintage most often tend to be worth significantly more than others with a higher mintage.
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