The name “Penny Farthing” refers to the size of the wheels on the high wheeled bicycles made popular back in the 1880’s, comparing the large “penny” (front wheel) to the small coinage known as a “Farthing” (rear wheel). This early version of the bicycle had no gears or chains and the pedals were attached directly to the front wheel. Each turn of the pedal rotated the wheel, the larger the wheel the faster and farther the bicycle could go.
This bicycle, also known a “highwheeler”, “highboy”, and “ordinary” bicycle was the predecessor of the “safety” bicycle, similar to what we ride today.