Here's why:
* Pronunciation: The "y" in "penny" is pronounced like the "y" in "yes" or "yellow," which are consonant sounds.
* Position: The "y" in "penny" is at the beginning of a syllable and before a vowel, which is typically a position for consonants.
While "y" can sometimes act as a vowel (like in "happy" or "my"), in "penny" it functions as a consonant.