The penny loafer originated in the 1930s inspired by the light, easy-access shoes worn by Norwegian farmers. Popular with both men and women, the easy appeal of the loafer was that it was comfortable as well as smart. The strap on penny loafers was originally a design feature, there to add intrigue to an otherwise simple silhouette. But why are they called penny loafers?

The strap had a small slit was the perfect size to hold a coin, and back in the days when using payphones was the norm, many young men and women would keep money in their shoes in case they needed to make an emergency call.  Years later, preppy Americans adapted their loafers and added silver coinage to their shoes to make a statement. And so, the penny loafer was born.

 

One of the particular appeals of  penny loafers is that they can be worn as both formal and casual wear, for men and women. From high-flying lawyers and accountants to sharply dressed Yale students, the penny loafer has been a style that defies subculture and has truly stood the test of time.

1.Mens Bass Larson Penny Loafer, £105

The original Weejuns Penny Loafer from G. H. Bass is a classic style. A pair of these are a worthy wardrobe investment.

 Ted Baker Vitric schuh

2. Mens Ted Baker Vitric, £120

This sleek style from Ted Baker pays homage to the legend of the Penny Loafer with silver coin detail. A panny loafer with panache.

3. Mens Momentum Esquire Penny Loafer, £59

These sharp shoes from Momentum Esquire are a great price. The traditional shape and attention to detail makes them a must-have.