Suppose we flip four coins simultaneously: a penny, a nickel, a dime, and a quarter.  What is the probability that they all come up heads?
There are $2^4=16$ possible outcomes, since each of the 4 coins can land 2 different ways (heads or tails). There is only 1 way that they can all come up heads, so the probability of this is $\boxed{\dfrac{1}{16}}$.