penny loafers?

I was just wondering if anyone knows where penny loafers came from. Am i the only one who thinks putting pennys in shoes is pointless! My personal thought was that some odd person had two lucky pennys that he always would confuse with the rest of his change in his pockets but wanted to carry them wherever he went, so he made the penny loafer … sooner or later it was a market.

Am i wrong? Prove it!

:confused: Casey

Why did kids walk around with 10 β€œL.A. Gear” tags on their shoes in the late 80’s? It was just a fad.

This has already been addressed in GQ. See this link:
http://boards.straightdope.com/sdmb/showthread.php?threadid=54751&highlight=penny+loafers