Frank S. Nugent of
The New York Times commented, "Conceding that Mr. Crosby is as good-natured as ever and that Miss Evans is so attractive a social worker that we are tempted to apply for relief and be investigated, the chief honors properly belong to little Miss Fellows. Hers really is an exceptional performance for a youngster, skirting the perils of bathos in her tender scenes and playing her rebellious ones with comic impertinence. Mr. Meek as the grandfather, Nana Bryant as the harried superintendent of an orphanage and William Stack as a welfare commissioner are excellent in the supporting rôles. In sum, "Pennies from Heaven" is one of Mr. Crosby's best."
Variety wrote, "
Pennies from Heaven may qualify as a fair grosser because of Crosby's name, but basically it's a weak picture with a story that has little movement and only a scattered few mild giggles. It's spread pretty thin over 80 minutes, despite a good tuneful score which should be no handicap... Film won't advance Crosby although Crosby may overcome its faults to some extent. Best individual impression is by Louis Armstrong, Negro cornetist and hi-de-ho expert. Not as an eccentric musician, but as a Negro comedian he suggests possibilities. He toots his solo horn to a nice individual score, plus his band chores. Crosby has a couple of songs that will be reprised into fair popularity..." ==Soundtrack==