The loafer shoe style itself was brought to market by the Spaulding Company in early 1930′s, modeled after shoes worn by Norwegian farmers as seen in an article in Esquire Magazine. Bass Shoes shortly added the strap with a lip design for style and stability. However loafer users soon discovered the straps storage capibilities, holding just enough change for an emergency pay phone call. Function as usual soon turned to fashion thanks to American icons like James Dean, The Kennedy’s, and the legend Michael Jackson. All making the penny and the loafer and inseperable pair and an indefinite part of Nostylgia.
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