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(historical) In the United Kingdom and Ireland, a unit of currency worth 1⁄240 of a pound sterling or Irish pound before decimalisation, or a copper coin worth this amount. Abbreviation: d.
Thanks to that penny he had just spent so recklessly [on a newspaper] he would pass a happy hour, taken, for once, out of his anxious, despondent, miserable self. It irritated him shrewdly to know that these moments of respite from carking care would not be shared with his poor wife, with careworn, troubled Ellen.
1950 March, H. A. Vallance, “On Foot Across the Forth Bridge”, in Railway Magazine, page 150:
We had not proceeded very far across the south cantilever when we saw a penny lying beside the track, and another a short distance further on. We were to find several more pennies, and some half-pennies, before we reached the north shore. Inspector Bell explained that many passengers try to throw a coin into the Forth, for "good luck," while trains are crossing the bridge.
In the United Kingdom, a unit of currency worth 1⁄100 of a pound sterling, or a copper coin worth this amount. Abbreviation: p.
(historical) In Ireland, a coin worth 1⁄100 of an Irish pound before the introduction of the euro. Abbreviation: p.
In the US and (formerly) Canada, a one-cent coin, worth 1⁄100 of a dollar. Abbreviation: ¢.
What penny hath Rome borne, / What men provided, what munition sent?
Usage notes
The plural pence is only used as a unit of currency. The plural pennies is used for other cases, in particular when referring to multiple individual coins.
Compounds (twopence, threepence, fourpence and so on up to tenpence, but not eleven pence or any higher) should be read with the stress on the first syllable and a reduced /ə/ in pence. Thus /ˈtʌpəns/, /ˈθɹʌpəns/, /ˈfɔːpəns/ and so on.
penny (third-person singular simple presentpennies, present participlepennying, simple past and past participlepennied)
(slang) To jam a door shut by inserting pennies between the doorframe and the door.
Zach and Ben had only been at college for a week when their door was pennied by the girls down the hall.
(electronics) To circumvent the tripping of an electrical circuit breaker by the dangerous practice of inserting a coin in place of a fuse in a fuse socket.