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A 16d (16 penny) nail is larger. The larger the "penny" the larger the nail. But the lengths can vary, but generally an 8d is 2.5" and an 16d is 3 - 3.5".
2 1/2 inches...
The penny was as old English term used to describe the number of pennies required to purchase 100 nails. Today the term is used only as a measurement of the length of the nail. A common 16 penny nail used in general construction today has a standard length of 3.5 inches, a number 8 gauge diameter shaft (0.162 inches), a head diameter of 11/32nd of an inch and 44 such nails will weigh one pound.
Nail
The squoval is one of the most common shapes, yet it is absent from many nail technician textbooks. The squoval nail is essentially a conservative square with the length of a square nail but the softer edges of an oval without the harsh edges. Squoval nails add versatility, enabling short, wide nail beds to carry the length without appearing oversized.