I have always heard it in movies but they move on too fast for me to process it.
In: Other
It means that something is worth dollars, but the offer to buy it is much below that (pennies) because the seller is desperate while the buyer is not.
Essentially, a seller is so desperate to sell that they are encouraged to sell something for much less than it is worth. Sell it for pennies instead of dollars.
It’s an expression for buying or selling something much less than it’s worth.
There’s your answer. But I must say this is an extremely low effort post. Do you not know what Google is?
You are paying just pennies when the guy you are buying it from paid dollars.
Say, somebody buy a web site and pay $44 billions, but now if they wanted to sell it it would be worth much less, say just $2 or 3b, they would essencially pay just a few pennies for every dollar of the $44 billion that was paid by the first guy.
If I offer to pay you 2 cents for something that’s worth $1, I’m offering you “pennies on the dollar.”
Like when you are forced to move because the state took your house because your mother is the co-owner of your house, and she gets Louie body dementia requiring immediate nursing home care. Your only retirement saving is your antique collection that is worth (similar items being sold on e bay) $40,000 dollars and the estate sale company gives you $4,000 dollars. Then, as your retirement savings is hauled away you understand the real meaning of “pennies on the dollar”.
[removed]
It means buying something at a very low cost compared to the original price. For example, debt collectors buy debts pennies on the dollar. Let’s say you own $10K in credit card bills with interest, and late fees and it goes to collection. The debt collector may buy the debt for 10cents on the dollar. That means that they bought your debt for $1,000 but you still owe them the original sum of $10K. This is why you can negotiate with them and pay a lot less than what your originally owe. Unfortunately, by this point your credit score is already affected.
I always take it to mean 4% or less. 5% would be nickels. 10% would be dimes. Etc. So, if you got something worth $100,000 dollars for pennies on the dollar, you paid less than $4,999 for it.
You could also produce something for pennies on the dollar. If you sell something for $100, but it costs you pennies on the dollar to produce, your production cost is under $4.99.
Starbucks comes to mind. That $10 coffee you buy probably costs about $0.15 to produce.
It means for every dollar worth you pay a few cents. For example, if something is worth $20 and you pay 5cents on a dollar, it means you paid $1 for the item. It’s a term used in trading goods
Let’s say you have a structured settlement….but you need cash NOW. (Call JG Wentworth!) You can get a small fraction of its worth immediately and kiss the rest goodbye. You get…pennies on the dollar.
Latest Answers