Hmm.. I think 16 is okay for an age, but you can't get in trouble when you're 18.
Ah, I don't mean to do any drive-by posting, but I noticed that a lot of the previous posts have already said what I would want to say, thus I do not want to be redundant.
Sex is a natural thing and every has their own image of how sex should happen and when it should happen.
... I lost mine when I was 15, although my boyfriend was a few months younger than me, lol. We're actually still together, and we've been dating for about 6 years now. I don't regret it, but I know a lot of people who do. :/
Accidents happen, but just know that whatever happens, HAPPENS. It can be regretful, so for those of you who are virgins - keep in mind that you should be ready for all consequences if you do partake in intercourse.