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One of my favorite words is “penny-farthing”, which is really two words, “penny” and “farthing” (English coins) put together. To my modern ears it doesn’t connote “bicycle” but something you would drink, a liqueur or a sherry. Or a unit of measure no one uses anymore.
Look how proud he is, like he’s bought a muscle car.
Wanderlost 
Regarding pennyfarthings, I believe the point is that one of those coins was much larger than the other – like one of the wheels on this type of bike
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That’s exactly right. It’s a cool sounding portmanteau.
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