Penny is the diminutive of Penelope — from the Greek Penelópē, meaning "weaver." In Homer's Odyssey, Penelope is Odysseus's faithful wife.
Penny entered the U.S. top 1000 in 1900 and peaked in the 1960s. Today Penny sits in the U.S. top 350 and is rising as part of the broader return of vintage diminutives.
Penny reduces to seven — the number of patient weaving.