I wouldn't necessarily assume that "that" has no value. If you found a quarter (25 cents) on the ground and a subway ticket cost $1.75, then you would still be able to say "That and a dollar fifty will get me a ticket on the subway". The quarter wasn't without value. It was still worth 25 cents.
I'm not sure and you may be right, but it sounds to me like an idiom meaning that something is worthless. I'm just putting together "dollar fifty" and "subway," I hear it in a Brooklyn accent, and it sounds like a put-down. I guess everything sounds like a put-down in a Brooklyn accent.
ozden, can you please post more of the original context, I'm curious! Thanks!