Am I able to use the Apple Pencil with my iPad 3rd generation? Model A1416

Sorry, no, iPad3 does not support Apple Pencil.

Here is the definitive list of iPads that support Apple Pencil:

Apple Pencil (2nd generation)

You can use Apple Pencil (2nd generation) with these iPad models: 

• iPad Pro 12.9-inch (3rd generation) and later
• iPad Pro 11-inch (1st generation) and later
• iPad Air (4th generation)(release pending)

Apple Pencil (1st generation)

You can use Apple Pencil (1st generation) with these iPad models:

• iPad (8th generation)
• iPad mini (5th generation)
• iPad (7th generation)
• iPad (6th generation)
• iPad Air (3rd generation)
• iPad Pro 12.9-inch (1st or 2nd generation)
• iPad Pro 10.5-inch
• iPad Pro 9.7-inch

Not sure which iPad you have? Identify your iPad model.