These Navy penny loafers are made of genuine leather and have a round toe. Hats Off Accessories Offer the best genuine leather semi-formal slip on Penny Loafers shoes with a new and unique range that will set fashion trends. To Complete you Semi-Formal Attire, wear these Penny Loafers Shoes. Tassel Loafers are crafted by our skilled artisans in our factory. We use high quality Navy-coloured full grain leather for this classic tassel loafer. As the loafers are handcrafted on a Last that offers some little extra width and have a sturdier look.