A system for monitoring wear of shank attachment members of an agricultural implement includes a shank extending between a proximal end and a distal end, the proximal end configured to be pivotally coupled to a portion of the agricultural implement, a shank attachment member coupled to the distal end of the shank, a non-contact sensor positioned remote to the shank attachment member, the non-contact sensor configured to detect a parameter indicative of wear of the shank attachment member, and a controller communicatively coupled to the non-contact sensor. The controller is configured to determine a status of the wear of the shank attachment member based on sensor data received from the non-contact sensor while the shank attachment member is above ground.