The term “penny tree” is a common name for plants believed to bring good fortune or those with coin-like leaves. These plants are popular houseplants for their unique appearance and symbolism. While care details vary, their resilience makes them appealing to plant enthusiasts.
What is a Penny Tree?
The name “penny tree” refers to distinct plant species, recognized for their coin-like foliage or other unique characteristics. The most widely recognized “penny tree” is Crassula ovata, commonly known as the Jade Plant, Money Plant, or Money Tree. This succulent features thick, fleshy, oval-shaped leaves, typically jade green, sometimes developing a reddish tinge in ample sunlight. Its woody stems thicken with age, giving it a miniature tree-like appearance.
Another plant frequently called a “Chinese Money Plant” or “Pancake Plant” is Pilea peperomioides. This plant is distinguished by its round, flat, coin-shaped leaves that grow on slender stems. It gained popularity for its distinctive look and tendency to produce small “pups” or offsets around its base.
Penny Tree Care Guide
Caring for these plants involves understanding their specific needs, particularly for Crassula ovata and Pilea peperomioides. Both are low-maintenance, but providing the right environment ensures healthy growth.
Light Needs
Crassula ovata thrives in bright, indirect light, but can tolerate some direct sunlight, which may even encourage a reddish hue on its leaves. Placing it near a south or west-facing window is often ideal. Too little light can result in leggy growth and pale leaves. Pilea peperomioides also prefers bright, indirect light, with an east or west-facing window being suitable. Direct, intense sunlight can scorch its leaves, causing them to brown or develop spots.
Watering
Both “penny trees” are susceptible to overwatering and root rot. For Crassula ovata, allow the soil to dry out completely between waterings, especially during active growing seasons. Reduce watering significantly in fall and winter when the plant is less active. Pilea peperomioides should be watered when the top 2-3 inches of soil feel dry; its leaves may slightly droop when it needs water, a visual cue. Ensure pots have drainage holes to prevent water accumulation.
Soil Requirements
Well-draining soil is crucial for both plants to prevent waterlogging. For Crassula ovata, a commercial cactus or succulent potting mix is recommended. If creating your own, combine potting soil with coarse sand or perlite to enhance drainage. Pilea peperomioides also benefits from well-draining soil, often a standard houseplant potting mix amended with perlite or pumice for improved aeration. For Pilea peperomioides, a well-draining houseplant blend is preferred over overly sandy succulent mixes.
Temperature and Humidity
Crassula ovata tolerates a wide range of temperatures, ideally 65°F to 75°F during its growing season. During winter, cooler temperatures (50°F to 55°F) are beneficial for dormancy. It is not frost-tolerant; temperatures below 40°F can cause damage. Pilea peperomioides prefers average household temperatures, typically 60°F to 80°F. Both plants do well in low to medium humidity, with Crassula ovata preferring 30-50% humidity.
Fertilizing
Fertilizing is beneficial during active growing seasons. For Crassula ovata, apply a balanced, water-soluble fertilizer diluted to half strength every 4-6 weeks. Over-fertilization can harm the plant. Pilea peperomioides can be fertilized monthly during spring and summer with a diluted all-purpose liquid houseplant fertilizer. Fertilizing should be avoided in the fall and winter when growth slows.
Propagating Your Penny Tree
Propagating “penny trees” is straightforward, allowing you to expand your collection or share with others. Crassula ovata is readily propagated from both stem and leaf cuttings. For stem cuttings, allow the cut end to dry and callus for a few days before planting in well-draining soil. Leaf cuttings can also be used; allow a healthy leaf to callus before placing it on moist soil, where it will eventually root and produce new growth.
Pilea peperomioides is known for its ease of propagation, primarily through its “pups” or offsets that emerge from the base of the plant. Once these offsets are a few inches tall, they can be carefully separated from the mother plant using a clean knife, ensuring some roots are attached. These can then be planted directly into moist soil or rooted in water. Stem cuttings from the main plant can also be rooted in water or soil.
Common Penny Tree Problems
Even with proper care, “penny trees” can encounter common issues. Leaf drop in Crassula ovata often signals overwatering, insufficient light, or sudden temperature changes. Soft or mushy leaves typically point to too much water. Leggy growth, with stretched stems and sparse leaves, usually means insufficient light.
For Pilea peperomioides, drooping leaves signal either underwatering or overwatering; checking soil moisture is key to diagnosis. Yellowing lower leaves often result from overwatering. Brown spots on leaves can result from direct sunlight, inconsistent watering, or too much fertilizer. Pest infestations like mealybugs, scale, or spider mites can affect both plants, appearing as small white or brown spots on foliage. Wiping affected areas with a damp cloth or using insecticidal soap can help manage these issues.