The Penny Loafer
The design of the penny loafer came about in the 1930’s as revisited moccasin. The new model was identified by the hand-stitched strip of leather across the saddle. The embellishment had a practical application as you could fit a penny in the half moon cut out, which was just how much a phone call costed at the time. Thus students would keep a penny in the cut out for the just-in- case emergency phone call home, hence the name “Penny Loafer”.