2019 Pony Penning. The auction of foals took place on Thursday morning July 25th at 8 a.m. at the Carnival Grounds on Main Street, Chincoteague. “Proceeds from one of this year’s buy back foals will benefited the United Way of the Eastern Shore”, according to Chincoteague Volunteer Fire Company PR Officer Denise Bowden. $16,000 was raised for the Non Profits on the Eastern Shore.