Q:

Extreme price on a MTG card

I was at a store and I saw this

I was looking around the price and in tcgplayer says its 16 cents. 
How can it be 1k that card? 

A:

This isn't a question about card games so much as it is about commerce. 
Anyone who wants to sell something can put any price they want on that thing.  Then, if someone wants to pay that price for that thing, they can. 
So looking at sale prices on sites like tcgplayer lets you know what prices people have sold the card for, and looking at that price sticker lets you know what price someone hasn't sold it for - because if someone had been willing to pay $1,000 for it, the store presumably wouldn't have it any more. 
Presumably, there is a price between $0.16 and $1000.00 which is just high enough that no-one wants to buy it any more.  It's probably fair to assume that the magic number is a lot closer to the bottom end of that scale.