34 stitches 17-0-17 fast cast on, waste yarn, one row ravel cord to right. 1 row with main yarn right to left.
Set carriage to hold, short row to 12 and back out.
Take weights and cast on comb off,
raise ribber bed to one notch below main bed
and hang open stitches between ravel cord.
There are 33 open stitches, I pick up another loop on the left side to have 34 stitches on each bed.
Now set to circular, half pitch, ribber connector
fill as many pennies in the toe as fit,
raise ribber, fill more pennies in. I hang one additional large weight on the toe.
100 rows circular
lower ribber one notch, change out ribber connector with sinker plate, set main carriage to hold, part button out.
Heel: Short row to 12 and out. Before raising the ribber loops of end stitches can be hung on opposite bed to avoid holes.
Change out sinker plate to ribber connecting arm, take hold off, set back to circular knitting. 60 rows circular for ankle.
Take off on waste yarn, still circular.
I like to put on 4 double pointed needles and do a 2x2 rib by hand.
Alternative: Do the ribbing in 2 parts on machine. Then there will be 2 seams on the ribbing.
There is no grafting at the toe, just pull out ravel cord and waste knitting will fall off.
Doing the ribbing by hand has no seams at all and the sock comes off the machine finished, no grafting or seaming.
Having done a few pairs of socks, I now prefer to do the ribbing on the machine 2x2 or 1x1 separately, transfer stitches to main bed, knit one row stockinette, then take off on waste yarn. The sock is already on waste yarn. I then graft those together and sew the seam in the ribbing. Have learned to do that invisible or nearly invisible. The grafting is totally invisible.
For these socks to avoid the holes after the short rows for the heel I used Brenda Bell's method, which I really like and I think it came out perfect.
As the Penny Sock starts with the toe and there was no circular knitting before, there will be no holes anyway. So this method needs to be only applied at the heel. It's much easier than the crossing over heel of stitches from the beds and it comes out totally flat.