Meaning of “penny” - Learner’s Dictionary

penny

noun [ C ] uk us /ˈpeni/ (plural pence, p, pennies)
POUND

B1 a coin or unit of money with a value of 1/100 of a pound (= UK unit of money); p:

There are 100 pence in a pound.
fifty pence/50p
DOLLAR

a coin with a value of one US cent ( = 1/100 of a dollar):

My dad always let us have his pennies to buy candy.
every penny

all of an amount of money:

They had spent every penny of their savings.

(Definition of “penny” from the Cambridge Learner’s Dictionary © Cambridge University Press)