1916 1C, RD PR65RD Certification #01305801, PCGS #3326

Charles Morgan

The 1916 Lincoln Cent Matte Proof

One of the unexpected consequences of President Theodore Roosevelt's desire to beautify American coinage was the steady decline of Proof production. The distinct character of the new designs, starting with the Saint-Gaudens issues and continuing through the Bigelow-Pratt gold coins and the Buffalo Nickel, led the Mint to experiment extensively with matte and satin finishes. However, the quality of these Matte Proofs was wildly inconsistent; while some boasted spectacular eye appeal, others were dull and lifeless.

When the Barber silver denominations were replaced in 1916 by the Mercury Dime, Standing Liberty Quarter, and Walking Liberty Half Dollar, the Mint faced an entirely new problem. The fields and relief surfaces of all three new designs were highly uneven. This physical characteristic made it "technically impossible," in the words of Philadelphia Mint Superintendent Adam Joyce,  to strike proof coins that were visually distinct from standard business issues. While the Mint would eventually resolve these technical hurdles in 1936, the administration in 1916 ultimately decided it wasn't worth the effort. On October 18, 1916, Mint Director F.J.H. von Engelken ordered the Philadelphia Mint to suspend the proof program effective immediately, bringing a sudden end to the first era of Proof Lincoln Cent production.

A Question of Mintages

The Mint's confusing record-keeping calls into question the actual mintage of the 1916 Matte Proof Lincoln Cent (#3326). In 1947, the Mint reported a total mintage of 1,050 pieces — a figure that subsequently became the accepted total in R.S. Yeoman's Guide Book and Walter Breen's Encyclopedia of United States and Colonial Proof Coins.

However, numismatic researcher Kevin Flynn paints a completely different picture. Referencing two distinct Medal and Proof ledger books kept by the very workers striking the coins, Flynn revealed major discrepancies:

Book 1 documents a single striking on March 24 of 299 pieces, with only 200 accepted and no subsequent entries.

Book 2 records three separate strikings: one in March, one the day before proof production was officially suspended in October, and a final run on December 26—well after the suspension order.

While the exact mintage remains a mystery, it is undeniable that the 1916 issue is exceptionally scarce; among Matte Proof Lincoln Cents, only the legendary 1909 V.D.B. (#3300) is tougher to source. However, with a PCGS population currently approaching 300 specimens, it is clear that the Mint struck more coins than were recorded in Book 1, and likely surpassed the figures reported in Book 2, though a survival rate pointing to a true mintage of roughly 600 pieces remains possible.

Collecting the 1916 Lincoln Cent Matte Proof

For those collecting full Red Matte Proof Lincoln Cents, the nine-coin series can be broken down into five distinct categories of difficulty: 

• Key Date: The 1909 V.D.B. is the unquestioned key to the series. 
• Rare: The 1916 and 1915 issues (ordered from rarest to least rare). 
• Scarce: The 1912 (BN #3312) and 1911 (BN #3309) issues. Notably, the 1912 stands out as the absolute rarest coin in the entire series at the PCGS PR66RD grade or above, with none currently certified finer than PR66RD. 
• Uncommon: The 1914 (BN #3318) and 1910 (BN #3306) issues (ordered from rarest to least rare).
• Common: The 1913 (#3315) and 1909 Non-V.D.B. (BN #3303) issues.

For the 1916 release specifically, Gems are scarce but available across all three color designations (RD, RB, and BN), though no Superb Gems have been certified to date. 

Most collectors are well aware that silver proofs were not struck in 1916, leaving the nickel and the cent as the only two circulating denominations with proof issues. Less known, however, is the existence of 10 matte proof specimens of the 1916 McKinnley Gold Dollar Commemorative Proofs (#7487). Assembling a high-grade, three-coin 1916 proof set would present a wonderful challenge for a true numismatic aficionado.

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