Because the phrase 'by the penny' is implied that whatever it is, will squeeze all the value out down to the singular digit, because the penny has a value of 1 cent as we all know. However, with the penny no longer in production, how soon can we expect a time where nobody will say "by the penny"?

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[–] 15 points 1 day ago* (2 children)

In the US and have never heard this one either.

I have heard in for a penny, in for a pound.

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