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2 definitions found
 for peag
From The Collaborative International Dictionary of English v.0.48 :

  Peag \Peag\ (p[=e]g), n. [Written also peage, peak,
     peeke.] [Prob. of North American Indian origin, by
     shortening of wampumpeag. --RHUD.]
     A kind of aboriginal shell money, or wampum, of the Atlantic
     coast of the United States; -- originally applied only to
     polished white cylindrical beads. See also wampum.
     [Webster 1913 Suppl.]

From WordNet (r) 3.0 (2006) :

      n 1: small cylindrical beads made from polished shells and
           fashioned into strings or belts; used by certain Native
           American peoples as jewelry or currency [syn: wampum,
           peag, wampumpeag]

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