The Collaborative International Dictionary of English v.0.48:

Twopenny \Two"pen*ny\, a.
   Of the value of twopence.
   [1913 Webster] Two-phase

WordNet (r) 3.0 (2006):

twopenny
    adj 1: of trifling worth [syn: sixpenny, threepenny,
           twopenny, tuppeny, two-a-penny, twopenny-
           halfpenny]

Moby Thesaurus II by Grady Ward, 1.0:

37 Moby Thesaurus words for "twopenny":
   beggarly, beneath contempt, cheap, cheesy, common, contemptible,
   crummy, despicable, gaudy, gimcracky, mean, meretricious,
   miserable, paltry, pathetic, pitiable, pitiful, poor, rubbishy,
   sad, scrubby, scruffy, scummy, scurvy, scuzzy, shabby, shoddy,
   sorry, trashy, trumpery, two-for-a-cent, two-for-a-penny,
   twopenny-halfpenny, valueless, vile, worthless, wretched