How much was the penny worth when it was first made?

The first official US cents were made in 1793. Before that there were other coins such as the famous 1787 "Fugio" cent.

It's difficult to determine purchasing power because the jobs and consumer goods of that era has almost nothing in common with today's. Depending on what you look at, though, various measures put a 1793 penny's purchasing power anywhere from $5 to about $20 in modern terms.