Lacking even the smallest amount of money.
In societies without national insurance of any kind, almshouses are the last refuge of penniless people.
Abstaining from the use of penny coins, despite having fully decimalized currency, via rounding of cash transactions (but not necessarily of cashless ones).
Canada became a penniless country in 2013 simply by rounding its cash transactions to the nearest nickel but otherwise not changing anything.
From Middle English penyles, penylees; equivalent to penny + -less. Compare Old Norse penningalauss (“penniless”).
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