Usually means: Earn a significant profit easily.
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We found 6 dictionaries that define the word turn a nice penny:

General (6 matching dictionaries)
  1. turn a nice penny: Vocabulary.com
  2. turn a nice penny: Dictionary.com
  3. turn a nice penny: Rhymezone
  4. turn a nice penny: FreeDictionary.org
  5. turn a nice penny: Mnemonic Dictionary
  6. turn a nice penny: TheFreeDictionary.com

Definitions from WordNet (turn a nice penny)

verb:  make a satisfactory profit


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