Because the phrase 'by the penny' is implied that whatever it is, will squeeze all the value out down to the singular digit, because the penny has a value of 1 cent as we all know. However, with the penny no longer in production, how soon can we expect a time where nobody will say "by the penny"?

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The other UK one is "I'm going to spend a penny" meaning I'm going to the loo, (I assume this phrase is to do with bathrooms being penny operated/gated).

What I want to know is does the phrase also then lead to referring to urinating as Peeing as when referring to coinage we use both P (pronounced "pee") and pence

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