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PENNY. The name of an English coin of the value of one-twelfth part of a shilling. While the United States were colonies, each adopted a monetary system composed of pounds, shillings, and pence. The penny varied in value in the different colonies.

References in periodicals archive ?
He said: "Shoppers are watching the pennies, now more than ever.
People are watching the pennies [but] they still want to treat themselves, particularly when eating out less often," said marketing director Simon Fry.
says: "When so many parents are watching the pennies because of the recession and taking more breaks in the UK, it's a shame a family day out is going to cost them even more.
And like most clubs, Walsall, always one of the more "prudent", will be watching the pennies as closely as ever in the months ahead.
Mother-of-two Jo Wright, 34, from Bedwas, near Caerphilly, has been watching the pennies in the run-up to Christmas.
Dishes like shepherd's pie, fishcakes or fish pie, which are so easy to make, are not just good for those watching the pennies, but those watching the clock as well.
Lampard, who hammered the winner from 25 yards after Dutch winger Arjen Robben had rolled the free-kick to him, says he can't blame the fans from watching the pennies.
Coventry Health Care said the strong results are driven by disciplined pricing, prudent risk selection and watching the pennies.