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The penny test is kind of outdated. Tires are below 2/32nds when they fail the penny test, that means their wear bars are exposed. You're not getting anywhere close to the performance in wet and certainly not snow when they are that worn.
Look at the difference in stopping distances as a tire ages:
Yeah I start considering tire shopping when I hit 5/32". I order tires when I hit 4/32".
Most people simply wait for their mechanic to tell them it's time for tires - well, that it is time for anything. And, even then, as we see all the time, people will decline repair or replacement if they don't have the money, sadly...