Well-worn this will be worth $25 or less.
The US coin looks very much like a modern US penny
It is silver
Please check your coin again. Wheat cents were made from 1909 to 1958. A cent dated 1816 would be about the size of a half dollar and is appropriately called a Large Cent.
The U.K., which strikes pennies, didn't make any in 1816 so I assume you're referring to a U.S. large cent. Numismedia lists prices as of 06/2008 in the range of $300 for AU-50 up to $450 in MS-60. That's enough of a differential over a narrow range that you'll need a professional appraisal.
Well-worn this will be worth $25 or less.
It looks exactly the same as the 2010 or 2012 penny.
The US coin looks very much like a modern US penny
0.01
It is silver
All British Pennies from 1982 to 2008 look pretty much the same as the Penny shown at the link below.
It looks exactly like the US cent.
Please check your coin again. Wheat cents were made from 1909 to 1958. A cent dated 1816 would be about the size of a half dollar and is appropriately called a Large Cent.
There are pictures at the Related Link, below
The front of a 1917 penny looks very similar to a present day penny. The reverse had shafts of wheat with ONE CENT and THE UNITED STATES OF AMERICA.
A 1927 British Penny looks very similar to all British Pennies minted from 1911 to 1936, other than the date. See the link below and look for the 1936 Penny towards the bottom.
About the width of a US penny (one cent coin)