Penny auctions were community efforts during times of economic distress, such as the Great Depression, where neighbors would come together to purchase foreclosed properties at very low prices at auction and then return them to the original owners, helping them to avoid losing their farms or homes.

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Penny Auctions Were

Question 8

Multiple Choice

Penny auctions were

A) sales events in which no item cost more than a penny.
B) numismatic conventions that gained new importance at a time when cash was short.
C) auctions in which a unified community would buy foreclosed farm properties from neighbors at agreed-on low prices in order to return them to the distressed owner.
D) a nickname for crowds of beggars on the street all requesting pennies.

Correct Answer: