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The name Peggy means pearl.
Uh... no. Not at all. Wrong. Way off. Not even close.
No offense.
Peggy means "Margaret."
Peggy is a mediaeval diminutive of Margaret, and Margaret means pearl so both the answers above are right. Peggy is arrived at from Meggie. The reason for the change of first consonant is unknown.
Actually I am sorry, the person above me couldn't be more wrong. Peggy does not mean Margaret, it can simply be used a a nickname for Margaret. My name is Peggy and it means Pearl. NOT Margaret, I DO NOT have Margaret in my name ANYWHERE. They are just confused that it can be used as a nickname.
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