In your specific example, that particular constant does not really make sense. The two likeliest scenarios to subtract a penny are:
Fulfill some very specific business/domain logic requirement:
If so, the constant should not be Penny = .01
, but StandardDeduction = .01
Handle more arbitrary/fluid maths:
If so, just use numbers.
In either case, "Penny" is pointless. It does not add any useful information. That's like declaring constant HelloWorld = "HelloWorld"
. Every programmer who has even a vague idea of what your application is doing (financial calculations) understands what .01 is. Constants should be driven by purpose.