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.
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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...
There is no special name for 1/4 of a penny.
The number is spelled "two thousand four hundred sixteen".(The bank form is called a twenty-four sixteen.)
There are several countries in which the minor currency unit is a penny - including the US where a cent is called a penny!The UK penny has a diameter of 20.3 mm.