1. Wampum or shell beads used as money or for trade by Native American peoples, especially in the northeastern United States.
Usage: historical; also spelled 'peage'

Examples

• The colonists learned to trade peag with the local tribes.
• Peag served as a form of currency in early colonial commerce.
• Strings of peag were highly valued in Native American societies.
• The Dutch traders exchanged goods for peag during their time in North America.