Proper rear wheel 16" sizes?

What rear wheel dimensions do you have on your Ford 33-34 hotrods?

I would like to know minimum overall wheel high on fendered cars.
I've seen 235/50-18. That looked nice. However I'm aiming at something wider and not 18" wheels. (But larger than 15".)

How about 265/50-16? That tire's overall diameter is slightly smaller than the first one, but will it be too small?

This is not only about taste, of course. If the tire become too small for the fender openings, it will look odd to all.
Of course, if the car is very low, smaller tires can fit than if the car is higher, but even then it will be a limit at some point, and I'm building a 34 hot rod, not a 34 low rider.