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Douglas Harper's Etymology Dictionary
red cent

obsolete type of copper penny, 1839, American English, from red (adj.1) + cent. "Red" has been the color of copper, brass, and gold since ancient times.

Wiktionary
red cent

n. 1 (context US English) A copper penny. 2 (context US colloquial English) A very small amount of money.

WordNet
red cent

n. something of little value; "his promise is not worth a damn"; "not worth one red cent"; "not worth shucks" [syn: damn, darn, hoot, shit, shucks, tinker's damn, tinker's dam]

Usage examples of "red cent".

Gone to make do and mend, thinks I - and since H didn't have a red cent to requite her, it struck me as a capital time to resume my scattered togs and make tracks for the ministry.

His son, who drops in with black shepherd in March 1949, doesn't get to see a red cent at first.

Now tell me where the money is, and every red cent better be there.

I wanted the ten dollars a week the job paid, and I got it, and you better believe me when I say I earned every red cent of it.