A
penny is a coin or a unit of currency in various countries. Borrowed from the Carolingian denarius, it is usually the smallest denomination within a currency system. Presently, it is the formal name of the British penny (
abbr. p) and the
de facto name of the American one-cent coin (
abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin (
abbr. c). Due to inflation, pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to merchants, banks, government mints and the public in general.