Many seem to believe that the phrase “Penny loafer” came from the idea that the diamond cut-out was designed to house two pennies for an emergency phone call from a payphone. Still, this theory has been proven to be an urban legend due to the fact that American payphones never took pennies. A more accepted story was that American students in Ivy League universities during the 1950s made a fashion statement by placing a penny in the same space. Read more
We have cherry-picked our favourite looks regarding how you can style this beloved shoe here. Or, if you want to know how we like to wear our loafers with jeans, check out this article.