peag

Among the North American Indians, in colonial days, a sort of money consisting of beads made from the ends of shells, rubbed down and polished and strung into belts or necklaces, which were valued according to their length and the perfection of their workmanship. Black or purple peag was worth twice as much as white, length for length.

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.

Wampum.

small cylindrical beads made from polished shells and fashioned into strings or belts; used by certain Native American peoples as jewelry or currency