U.S. — With the penny no longer being minted, shoe manufacturers announced that they were working hard to replace the old penny loafer slip-on shoe design with an exciting new nickel loafer.

Penny loafers got their name from teenagers in the 1950s who placed pennies in the leather slots stitched across the saddle of the shoes. But with pennies now obsolete, shoe companies were rushing to design the world's first nickel loafer.

"Things change, and we have to change with them," said shoe manufacturer Tom Shoemaker. "Pennies may no longer be in production, but we can't just stop making loafers. It's OK. Due to inflation, increasing the worth of the coin being placed in the loafers makes sense, anyway."

However, it appeared that the design process had proven significantly difficult for shoe

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