Penny Loafers are slip-on casual shoes that are moccasin-styled with a strip of leather across the front. The leather strip has a small slit that prep school students put pennies in, thus the name penny loafer.
Why you want it- The penny loafer is so classically American. They’re smart and versatile. Any good prepster should have a pair of penny loafers in their closet. Go get a pair of Bass Weejuns if you don’t.