- written by Arthur William Halifax and Melle Weersma
 - as recorded in New York February 14, 1939 by Guy Lombardo
 and His Royal Canadians

 Once I strayed 'neath the window of a lovely se?orita
 And she smiled while I softly played my Penny Serenade

 Si, si, si, you can hear it for a penny
 Si, si, si, just a Penny Serenade

 In her eyes shone the tender dawn of love and sweet surrender
 As for me, in my heart I played a lover's serenade

 Si, si, si, hear my love song for a penny
 Si, si, si, just a Penny Serenade

 For that night so divine she was mine, no word had been spoken
 When I woke from my dream she was gone, my poor heart was broken

 Still I pray that wherever she may be she will remember
 In her heart she will always hear my Penny Serenade

 Si, si, si, hear my love song for a penny
 Si, si, si, just a Penny Serenade