1916 Lincoln Cent : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

New hubs were deployed to produce the 1916 Lincoln cent, strengthening the design and leading to the striking of the highest-quality coins of the entire Lincoln cent series to that point. Many examples resemble Proof strikes and have squared rims. With 131 million struck, the 1916 Lincoln cent is a type coin amongst the other pre-1930 early issues. Choice Mint State Red coins routinely sell for $100 USD or less; Gems sell for $300 or less.

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Market Data and Noteworthy Specimens

• Top Population: PCGS MS68RD (1, 8/2024). NGC MS67+RD (2, 8/2024). CACG MS67RD (25:1 stickered:graded 8/2024)

The PCGS certified population of MS67+RD coins has risen dramatically in recent years.

In August 2020, PCGS reported 17 grading events of the 1916 Lincoln cent at the MS67+RD level with none finer. By March 2023, that number had risen to 39 events with one finer. As of August 1, 2024, that number now sits at 40. The sole finest, a PCGS MS68RD, was offered for sale by GreatCollections in April 2023.

In circulated grades, the 1916 Lincoln cent is a type coin. The average example in circulated condition has a value of $1 or less; this is the case for most pre-1930 type Lincoln cents.

• PCGS MS68RD CAC #21463368: GreatCollections, April 9, 2023, Lot 1308220 – $55,161.
• PCGS MS67+RD CAC #40050023: As PCGS MS67RD #40050023. “The Professor Wayne Newman Palmer Collection, Part Two,” Heritage Auctions, September 9, 2004, Lot 5450 – $5,060; Heritage Auctions, May 29, 2008, Lot 1048 – $4,312.50. As PCGS MS67RD CAC #40050023. Heritage Auctions, February 3, 2012, Lot 3878 – $2,530. CAC added. As PCGS MS67RD+ CAC #40050023 Heritage Auctions, February 22, 2018, Lot 3739 – $6,000. Coin upgraded by 1/2 point; Heritage Auctions, November 6, 2023, Lot 92036 – $6,300.
• PCGS MS67+RD CAC #06107081: Heritage Auctions, October 7, 2021, Lot 3042 – $6,600.
• PCGS MS67+RD CAC #82245155: “The GL & SL Stonebarger Collection,” Heritage Auctions, June 18, 2021, Lot 3328 – $5,520.
• PCGS MS67+RD CAC #39802782: Stack’s Bowers, November 12, 2020, Lot 5048 – $5,040.
• PCGS MS67+RD CAC #38249725: Heritage Auctions, December 5, 2019, Lot 3013 – $5,520.
• PCGS MS67+ RD CAC #50183641: As PCGS MS67RD #50183641. Heritage Auctions, December 2004, Lot 5262 – $2,530; Heritage Auctions, February 23, 2005, Lot 5433 – $4,312.50; As PCGS MS67+RD CAC #50183641. Heritage Auctions, January 10, 2019, Lot 4049 – $6,600. Jerald L. Martin Collection on insert. Upgraded by 1/2 point. Pop 16 in MS67+ at the time of sale. Pale mellowing of red color over face. Two tiny copper ticks above R of LIBERTY.
• PCGS MS67+RD #25627453: Heritage Auctions, March 3, 2016, Lot 3555 – $5,405. Cluster of carbon spots throughout upper left obverse field. Carbon spot above N of ONE.
• PCGS MS67+RD CAC #25670225: Heritage Auctions, October 29, 2015, Lot 3062 – $5,405.
• PCGS MS67+RD CAC #25677347: Heritage Auctions, September 17, 2015, Lot 3156 – $8,225. Tiny copper spot in left obverse field near rim above 9 o’clock. On the reverse, tiny copper spots between wheat stems. Cognac color. Pop 2 in MS67+ at the time of sale.

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Coin Specifications

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