Penny Loafers vs Tassel Loafers: Which Should You Buy?
A penny loafer has a slotted strap across the vamp; a tassel loafer has leather tassels instead. The penny is cleaner and more casual, the tassel slightly dressier and easier with a suit. For a mostly casual wardrobe buy a penny first; for mostly tailoring, a tassel.
Penny vs Tassel Loafers at a Glance
| Penny loafer | Tassel loafer | |
|---|---|---|
| Detail | Leather strap across the vamp with a slot | Leather tassels, usually on a lace across the vamp |
| Look | Clean, classic, preppy | More decorative, a little dressier |
| Formality | Smart casual to business casual | Business casual to evening |
| Best with | Chinos, jeans, sport coats | Suits, flannel, blazers |
| Good first loafer? | Yes, in dark brown or burgundy | Yes, in dark brown or black |
What Is a Penny Loafer?
A penny loafer has a strap of leather, called a saddle, stitched across the vamp with a small slot cut into it. The story goes that American students in the 1950s tucked a coin into the slot, and the name stuck. You can read more about the slip-on's history on Wikipedia.
It is the most versatile loafer. In dark brown or burgundy it works with jeans, chinos and casual tailoring; in black calf it can go to the office. Browse Black Penny Loafers – Goodyear Welted Calf Leather, Dark Brown Penny Loafers for Men and our men's leather loafers.
What Is a Tassel Loafer?
A tassel loafer swaps the saddle for small leather tassels, usually hanging from a thin lace that runs around the collar. The tassels add movement and a touch of polish, which is why many men find a tassel loafer easier to wear with a suit.
Which Is More Formal?
The tassel loafer is slightly dressier. Its decoration lifts it above the plain penny, and in black or dark brown calf it sits comfortably with a suit. The penny loafer is the better casual shoe. Neither replaces a lace-up for black tie or very formal business.
Which Should You Buy?
- Mostly casual wardrobe: a dark brown or burgundy penny loafer.
- Mostly tailoring: a black or dark brown tassel loafer.
- Summer: suede in either style, worn with no-show socks.
- Something different: an exotic version, such as crocodile or ostrich.
Loafers have no laces, so fit depends entirely on length and width. A made-to-order pair in your width is the best way to stop heel slip. If you want a buckle instead, read our monk strap guide.
FAQs
What is the difference between penny loafers and tassel loafers?
A penny loafer has a leather strap across the vamp with a small slot cut into it. A tassel loafer has decorative leather tassels instead, usually hanging from a lace around the collar. The penny is cleaner and more casual; the tassel is more decorative and slightly dressier.
Are tassel loafers more formal than penny loafers?
Slightly, yes. The tassels add polish, so a black or dark brown tassel loafer in smooth calf pairs well with a suit. A penny loafer is better suited to smart casual outfits. For black tie or very formal business, a lace-up oxford is still the right choice.
Can you wear penny loafers with a suit?
Yes, with lighter or more relaxed suits such as flannel, linen or cotton, and in dark, smooth leather. With a dark, formal business suit, a tassel loafer or lace-up looks more at home. Keep the trousers slim with little or no break so the shoe shows.
Should loafers be tight at first?
They should be snug but not painful. Loafers stretch slightly and the cork and leather soften with wear, so a pair that is loose on day one will slip at the heel later. Choose your correct width so the vamp holds the foot without pinching.
Do you wear socks with loafers?
Both work. With tailoring, wear thin dress socks that match the trousers. With chinos, jeans and summer outfits, no-show socks keep the ankle bare and stop the inside of the shoe getting damp.