The iconic penny loafer may be facing an uncertain future after President Trump announced his intention to stop minting pennies. While it’s unclear whether Mr. Trump’s order has the authority to halt penny production, it’s raised questions about what will happen to this beloved footwear trend.
The penny loafer, a style that became synonymous with American culture in the mid-20th century, has been associated with coins since World War II. However, as the US considers eliminating its smallest denomination coin, designers and industry experts are weighing the potential impact on this fashion staple.
“It will be a dime loafer,” said Martha Stewart at New York Fashion Week. “If you have some dough, it’s going to be a dime.” Others, like Lauren Ezersky and Sergio Hudson, floated the idea of using nickels or even fake coins as alternatives.
Some luxury brands, including Christian Louboutin and Miu Miu, already offer shoes with metal tokens in their slots. If pennies are discontinued, these brands might capitalize on the trend by introducing new designs that incorporate alternative materials.
Fashion insiders predict that eliminating the penny could lead to a shift towards more whimsical decorations, like charms or doodads, rather than coins. “Just replace it with weird things like mini Teletubby plush bears or something,” said stylist Gabriella Karefa-Johnson.
Others believe that the loafer’s popularity would endure even without pennies, given its timeless design and versatility. The Bata Shoe Museum in Toronto notes that there are still enough pennies in existence to continue the tradition of slotting them inside loafers.
As Canada, Australia, New Zealand, and Sweden have already eliminated their smallest denomination coins, some experts see this as an opportunity for the US to redefine its own fashion icon. “With pennies going away, this moment of loafer history itself will go away,” said Elizabeth Semmelhack, director and senior curator of the Bata Shoe Museum.
While it’s unclear what the future holds for the penny loafer, one thing is certain: the iconic style will endure, regardless of the circumstances. As fashion writer Leandra Medine noted, “It’s going to stay the penny loafer.”
Source: https://www.nytimes.com/2025/02/12/style/penny-production-penny-loafers.html