Smith Cognac Penny Loafer - 722The Cognac Smith Penny Loafer on the 722 last offers a brighter expression within a refined frame. The subtle chisel toe sharpens the overall line, giving this lighter tone a more structured presence.?? A delicate burnish introduces warmth and depth, allowing the leather to evolve gracefully over time. Built with a leather sole and Goodyear welt construction in Almansa, Spain, it delivers long term durability in a silhouette defined by precision.