Is Sluggo related to Snuffy Smith or Mr. Magoo? ~A penny used to make the difference between being able to buy something you wanted or needed. If a tee shirt cost $2.97 and you had only $2.96, you hoped you could find that penny on the sidewalk. ~ That 97 cents used to follow the decimal on just about everything that cost $1.97 or more. Then it was changed to .98, then .99. It was to make the buyer think they were getting a bargain.