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'penny' is slang for penetrameter.
Penetrameters come in a wide range of shapes, sizes, and configurations. They can be small metal plates containing the same- or variable-sized holes, or they can be a series of variable-diameter wires contained in plastic packets.
Penetrameter wires or plates are made from the same type of material as the specimen being tested. Codes and standards differ widely in specifying the type, style, thickness, and placement of penetrameters.