The question does not say which country.
The U.K. uses the penny, with lettering ...
Elizabeth II · DEI · GRA · REG · FID · DEF · 2015 ·
J.C
ELIZABETH II DEI GRATIA REGINA FIDEI DEFENSOR
Elizabeth 2nd, by the Grace of God, Queen and Defender of the Faith
Engraver: Jody Clark
Your answer depends on the date on the penny.
if you earn a penny and you save it
The initials a.m. stand for ante meridian, Latin for "before noon." The initials p.m. stand for post meridian, Latin for "after noon."
A penny is a unit if currency (money), thus one penny means one unit/coin of this currency (1p).
Latin: exempli gratia (e.g.) means for example.
The "LB" on a 2013 penny refers to the initials of the designer, Lyndall Bass. "JFM" is the engraver's initials, which in this case signifies Joseph Menna.
KG is the initials of the designer, G.E. Kruger-Gray.
It is the initials of Victor David Brenner, the coin's designer.
These initials belong to Victor David Brenner. He designed the front of a Lincoln penny.
FG are the initials of Frank Gasparro, who designed the Lincoln Memorial reverse.
Your answer depends on the date on the penny.
bat man
The inscription actually reads V.D.B., not V.O.B.These are the initials for the designer of the penny: Victor David BrennerSee more here: http://coins.thefuntimesguide.com/2008/07/1909_lincoln_cent_penny.php
James Cash Penny used his initials to name his store.
Frank Gasparro
They are the initials of the man who designed the Lincoln penny, Victor David Brenner.
Unfortunately the initials killed the collectible value of the coin, it's face value.