The Cheapskate Trophy is a trophy that appears in the episode: Kracked Krabs. It is given to the cheapest crab underwater every year. In that episode, the Cheapskates give it to Mr. Krabs, because he is the Cheapest Crab of the year. Mr.Krabs won it by stealing or as he said "exaggerating" his whole hotel room.
It is a golden Trophy. It has a claw of a crabs on it, which looks similar to the one on the Magic Claw. It has a coin at the top of the claw.