The American penny loafer is the collegiate cousin: fuller through the vamp, moccasin in spirit, and usually finished with beefroll stitching where the strap meets the upper.
Where the slim European penny is a dress shoe without laces, this one is a casual shoe with good manners. It has been on campuses, in newsrooms and under chinos for seventy years without once looking like it was trying.
Wear it with a soft trouser, with raw denim, with bare ankles in summer.
Ours is the Henry, cut on loafer lasts made for the shape — the Monaco for European flair, the 144 for a longer, sleeker line.