In the 1930s... - one of the first iterations of the penny loafer featured a decorative strap across the front with a small horizontal slit that was, by chance, the perfect size for the copper coin, and the price of a pay phone call at the time was...two cents. In the 1950s, Ivy Leaguers switched from pennies to dimes to accommodate for inflation, and well, now in the smartphone era, it's just a classic, stylish shoe. This pair—made in hand-burnished leather—looks great with everything: jeans, dresses and of course, pleated skirts. Leather upper and lining. Synthetic sole. Import. Item AL939 NWOT. Open to offers.