Remember that our "sloppy language" will be proper grammar in 200-300 years time. That is language. It is about communicating and for everyone to understand what you are talking about. If you say penny and I understand exactly what you are saying then why not use it.
"Ain't" is great, especially from the point of view of teaching english as a foreign language. Think about it, "i am" = "I'm" but "is not" = "ain't" or "have not" = "Ain't" is just mad, haha, maybe the US mint should make a penny in 2009 with the word "Penny" blazing all over the front. That would solve a few problems. Or "this ain't a penny" "One cent", won't happen though.
Did you know that cheese comes from the old english world for mould!! It is "sloppy" english to say cheese!!