1 a British coin and monetary unit equal to one-hundredth of a pound.
Usage:
Abbr.: p.
2 hist. a former British bronze coin and monetary unit equal to one-two-hundred-and-fortieth of a pound.
Usage:
Abbr.: d.
3 US colloq. a one-cent coin.
4 Bibl. a denarius.
Phrases and idioms:
in for a penny, in for a pound an exhortation to total commitment to an undertaking. like a bad penny continually returning when unwanted. pennies from heaven unexpected benefits. penny black the first adhesive postage stamp (1840, value one penny). penny cress Bot. a plant, Thlaspi arvense, with flat round pods. penny dreadful Brit. a cheap sensational comic or story-book. the penny drops colloq. one begins to understand at last. penny farthing Brit. an early type of bicycle with one large and one small wheel. a penny for your thoughts a request to a thoughtful person to confide in the speaker. penny-in-the-slot (of a machine) activated by a coin pushed into a slot. penny-pincher a niggardly person. penny-pinching n. meanness.
—adj. mean. penny post Brit. hist. the system of carrying letters etc. at a standard charge of 1d. regardless of distance. penny whistle a tin pipe with six holes giving different notes. penny wise too careful in saving small amounts. penny wise and pound foolish mean in small expenditures but wasteful of large amounts. a pretty penny a large sum of money. two a penny almost worthless though easily obtained.
Etymology: OE penig, penning f. Gmc, perh. rel. to PAWN(2)
Useful english dictionary. 2012.