Better to be careful | History Memes
Uploaded by Reddit Moments Feb 21, 2024 at 11:21PM EST
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![Penny auction (foreclosure) The term arose during the foreclosure of farms during the Great Depression in the United States: neighbors would gather in large numbers at the auction and place bids of only a few pennies, while intimidating anyone who attempted to bid competitively.[¹] In the end, the bank that owned the farm would get whatever was bid and the neighbors would return the farm and its contents to the farmer. [2] No! You can't just buy back your farm for only a few pennies! Some else place a bid! 50 cents for my farm back *silence*](https://i.kym-cdn.com/photos/images/newsfeed/002/760/952/eaa.jpeg "Great depression farmers were based | History Memes")
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Uploaded Feb 21, 2024 at 11:21PM EST
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