A Penny for Your Thoughts
A penny is the name of a coin in America, Great Britain, and Ireland. The American penny is worth 1/100th of a dollar (one cent), the British penny is worth 1/100th of a sterling, and the Irish call the 1 cent euro coin a penny. When I was young, Canada also had a coin called a penny. Like the American coin, it was worth 1/100th of a collar. Although it might surprise most Canadians that “penny” originally referred to a 2-cent coin. Canadians still use the term “penny” to refer to 1-cent though the coin has been out of circulation since 2012. It cost the government 1.6 cents to make the 1 cent coin. It cost more to make the coins than the coins were worth.
Over time, money loses value. We call this inflation. A lot of time historians will use inflation-adjusted prices. It allows the audience to comprehend how much the item would be worth today. The Canadian penny used to have value, but with inflation, the coin lost too much value. The farther you go back in time, the more value a penny has. The British penny used to be made of silver because it was so valuable. So, how much do you think a penny was worth in 1522?
The first recorded use of the phrase a penny for your thoughts was in Sir Thomas More’s book, Four Last Things. He spoke about someone would not speak (maybe a secret?). So, the man needed to be bribed to get them to speak. The author notes that people would say, “A penny for your thoughts,” to the silent ones. The meaning remains largely the same. The small difference is that no one expects you to actually give them a penny.
A penny for your thoughts is a polite way to ask someone what they are thinking. It is a little playful and encourages people to speak. It is usually used in cases where someone has been unusually quiet. But it can also be used to ask for advice.
Example: I don’t know which one to buy. A penny for your thoughts?
A penny in 1535 would be worth between $2.25 and $22.50 USD (inflation-adjusted pricing). Is this enough money to get you to tell a secret?
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Reference:
http://www.todayifoundout.com/index.php/2014/12/origin-phrase-penny-thoughts/
https://en.wikipedia.org/wiki/Penny_(Canadian_coin)#Abolition
http://idiomic.com/penny-thoughts/