I've been hearing that phrase a lot lately, and I am curious to know what it means. Thanx.

It means ''very little'' or ''below value''

If a purse was $100 and you bought it on sale for $40 then you could say you got it for ''pennies on the dollar.'' Meaning that you only paid 40 cents of every dollar for it.

it roughly means that you are getting something cheaper than what it is worth. or that you are paying less that what you are supposed to pay. for example there are commercials that advertise we can repay your debt for pennies on the dollar.

Pay a lower cost for an otherwise high ticket purchase. Discounted stocks for instance.

a small percentage

If someone says- l bought it for pennies on the dollar-they mean they bought it for a small percentage of what it is true worth or original price was.

The phrase refers to valuing assets for less than the face or par value of the asset.

Lets say you invested $100 in Lehman Brothers' bonds. Lehman Brothers' filed for bankruptcy but still owes you $100 for the bond. In bankruptcy court, the presiding judge declares that you will receive $.05 cents on the dollar. So for every dollar of your investment, you will only get back $.05. Your $100 bond is only worth $5.