Penny candy Share definition Flag Candy that can be bought for 1 cent. Usualy found at corner stores and is becoming less and less available. Johnny: I have one dollar. Susie: What will you spend it on? Johnny: 100 pieces of Penny Candy. Penny candy by Justin November 1, 2003 0 0 Get merch Get the Penny candy mug. Buy Now — $32.95 See more merch