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Originally Posted by richlevy
Penny's dropped - I'm guessing it had more to do with old arcade machines, specifically the fortune tellers, which would dispense a fortune or some wise saying.
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There's also the more macabre association with the practice of placing pennies over the eyes of a dead person. If the penny dropped it would mean that they hadn't been dead after all..... or else they had come back to.... life! (for added effect inserts sinister, ghostly laughter, plus sound of owl hooting in background)......