Penny Chaser is a slur used to describe Jews in a derogatory way. The old "Jews are cheap" thing.
The word Penny Chaser is a racial slur that has been used historically to degrade and dehumanize jews. The word is still used by some people for this purpose, and it is seen as offensive and hurtful to jews. If you are unsure about whether or not it is appropriate to use the word Penny Chaser, it is best to err on the side of caution and avoid using it in any situation.