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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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
SO, the numbers have been crunched, and while the economic downturn may still be causing households to pinch the pennies in many areas, we've clearly got no problem splashing the cash on console goodies.
Pinch the pennies: IBM's Kloeckner said that an enterprise using Cloud based tools will save 20 to 30 percent compared to one using traditional tools.
The Right Rev Cannon Seamus Cunningham, Bishop-elect of the diocese, says he can empathise with people who have been forced to pinch the pennies.