Congrats on the new purchase, I would recommend not submitting this coin for grading from a pure cost standpoint its really not worth it. The 1916 is a relatively common date and your new coin looks to have been struck from late state dies, I would guess it grades anywhere from AU58 to MS63 from these photos. You would need a grade of MS65 or better to make the cost of grading/slabbing viable, and I just don't see that with this coin. Get an Airtite holder to protect the coin and enjoy it just the way it is.