A system for monitoring the operational status of shear pins for ground-engaging assemblies of agricultural implements includes a ground-engaging assembly including an attachment structure pivotably coupling the ground-engaging assembly to a frame of an agricultural implement, a ground-engaging tool pivotably coupled to the attachment structure at a pivot joint, and a shear pin at least partially extending through the attachment structure and the ground-engaging tool to prevent pivoting of the ground-engaging tool about the pivot joint. The system also includes an orientation sensor configured to generate data indicative of an orientation of the attachment structure, and a computing system communicatively coupled to the orientation sensor. The computing system is configured to monitor the orientation of the attachment structure and determine a change in an operational status of the shear pin based on detected changes in the monitored orientation of the attachment structure.