Could a one year old baby die from swallowing a penny?

No. As long as the penny was swallowed and has not gotten in the trachea ( in which case the child would have trouble breathing and should be seen at the er immediately) the penny will pass through the intestine and come out with a bowel movement.
Unlikely. Coins are swallowed every day. When swallowed and they go in the stomach they pass uneventfully. If concerned, see your pediatrician. Sometimes after a few days and you haven't seen it pass an x-ray can show you where it is. I have not heard of any child dying from swallowing a coin in the GI tract. If it is in the windpipe there is choking etc and that is an emergency.