An obsolete English slang term for a Farthing.
Beaumont and Fletcher in their play The Captain, 1613 (iv. 2), use the phrase, "Not a rag. Not a Deniere," and in A Dictionary of the Canting Crew, printed circa 1700, occurs the definition, "Rag, a Farthing."
Source: Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)