WOW. First of all I would like to say that your attitude about this is spot on. No big deal. No harm done. I am pretty certain the lesson was learned as soon as the iron got ruined. I will never understand adults that do not allow children to mess up without fear of punishment. It is far wiser to ask what they learned than to tell them what they should have learned.
Children need to know it is okay to mess up and be understood as they work through it with guidance. Dang unbelievable how many people think something more needs to be done here. At 55 years old I am still afraid to take risks (I do take them) because we were not allowed to make mistakes or learn anything except we will be punished if we do. Your child will feel free to turn to you for help in the future because you did not turn this into an issue.
I give you 2 weeks before you cave in and buy a new one. Next time you put something away say it aloud 3 times. Old Iron on the top shelf of the closet. It works when trying to retrieve memories.
Great job in parenting!!!

Could somebody tell me what an iron is?

it would be ironic if the transfer that ruined the iron was an iron maiden decal.

Got a few things to iron out with the 16 year old, it sounds like. Just when you think you've seen everything, teens can introduce a new wrinkle. Don't press, the teen is just sizing you up. LOL

I hope you can get this all ironed out. I can only imagine that being without one flat out puts a different wrinkle altogether on one's view of their laundry.

If I remember when I was 16 I knew everything also

In my world, the 16 year old takes his fun money and replaces the household iron. And from now on he uses the old iron, once he finds it.

Check online on how to clean it up.. I'm sure its salvageable

How do you know it's ruined? If it just has stuff melted on it you can probably remove it by putting it on high heat and wipe it over an old towel. Drape the old towel over the corner of ironing board or countertop then wipe with a little force behind it until clean. Teach her to always cover delicates and crafts with a hankerchief or something first to prevent scorch/melt.

Not to rub salt in a proverbial wound...but this is pretty much why I'm glad we just have cats, not kids...

Good luck!

Is it ruined because something is stuck to it? I bet there are YouTube videos on how to clean up a messed up iron. Worth a shot.

I think you will cave and buy a new iron in two weeks then find your old one in three weeks...

Do you really need an iron? I’ve never had one my entire adult life.

Spare the rod, spoil the iron. LOL

Buy a third iron. Help Make America Wrinkle-Free Again.

When you find the old iron, hit your son with it. ?

Murphy's law (revision): kept objects done so in an "in case" scenario will remain hidden during said "case" until that arisen "case" is no longer the "case" in point at which point the "in case" object will reveal itself.
substitute: object for iron

 Buy a stand up double door cabinet and put a lock on it. Put it in your bedroom.
 Your missery just started. Put you medication, 

cookies, candy, chips, cereal, cokes, booze, special treats, jewelry, tv remote, dvd's, sex toys, and anything that has importance to it. (Gun) for sure. Lock it up... if theres a will theres a way.... they're going to find a way to get to your stuff. Kids mean well... PS... Put a lock on your bedroom door. Make 4 sets of car keys and house keys. Keep your special keys around your neck. Keep a spare laptop so you want have to jump out your ass to go get another when porn put a virus on the one you got. Kids are going to mess your mind up. Good luck.

11 Irons, and I bet within 10 days..because you are not going to find the old one.

Maybe not a record, there has to be another posting somewhere with more references to the IRON Throne..... And regarding yours, I will bet my money on, you will by a new iron because you need one and almost immediately you do that then by pure strange coincidence the old one will appear. Life is "funny" that way and no one can tell why

I know this sounds odd but I bought a new iron a couple of years ago. I love my iron. I love my iron so much that I named it Veronica. It just sounds like a hot name for an iron. Steams me up. Ok, no more puns but I do love Veronica. If you'd like to know more about her, in case you have to buy a new one contact me and I'll share her information with you but not her real address.

Ah, when you loose your iron it's a pain in the arse not having an iron. The temptation to buy an iron would be strong, particularly if you like using your iron, or if you have a large number of clothes that need to be smoothed by means of an iron. Of course your 16-year-old who wrecked your iron, and placed you in the position of not having an iron, you having found your old iron and then promptly lost your old iron again, does need to be disuaded from using your iron in the future, for fear that they might wreck yet another iron. Perhaps that 16-year-old might be disciplined by insisting they use your iron for the purpose of smoothing your clothing by means of an iron. That way they will learn how they should properly use an iron, instead of using the iron to apply a transfer, therefore destroying the iron.

HA! Your record for the use of 'iron' was short-lived!

I give you two weeks, if you really need an iron.
If you do, you could get rid of all the clothes that need ironing.
A little bit of before-mid-life cleaning.
And you can boast about that.
And then someone will hear about your plight, and crowd fund a new iron.
And maybe some clothes to use it on.

Or else, not.

OK