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I have always heard that it is an angel letting you know they are with you in spirit.
(Author unknown)
I found a penny today
Just laying on the ground.
But it's not just a penny,
this little coin I've found.
Found pennies come from heaven,
That's what my Grandpa told me.
He said Angels toss them down.
Oh, how I loved that story.
He said when an Angel misses you,
They toss a penny down.
Sometimes just to cheer you up,
To make a smile out of your frown.
So, don't pass by that penny,
When you're feeling blue. It may be a penny from heaven,
that an Angel's tossed to you.
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Contrary to what people might idealistically believe - poems written in 1988 as is the one by Charles Marshburn above, or urban legends of actual heaven sent (no pun intended) pennies from angels - the phrase "Pennies from Heaven" appears to have originated as a way to explain an unexpected windfall.
From Oxford English Dictionary:
"e. pennies from heaven: money acquired without effort or risk; unexpected benefits, esp. financial ones. Also (in sing.): a windfall, a godsend (rare). [1st two citations:] [1928 A. BURSTEIN Ghetto Messenger 91 The gentleman, being cognizant of 'pennies falling from heaven' and other tricks.., appeared to take it seriously.] 1936 J. BURKE (title of song) Pennies from heaven."
The first citation appears to be a coincidence. "Pennies falling from heaven" was just a newsworthy wordsmith way of reporting actual pennies falling from the sky.
The song from 1936 is about being thankful for the little things, because they are treasures beyond compare - blue skies and new moons, and raindrops with which you can trade for or purchase sunshine and flowers (Pennies from Heaven).
My own interpretation is that it is a play on the biblical phrase "Mana from Heaven", which is also used in the present as a way to explain providential fortune when something is needed.
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