What does groat mean?

Groat or Fuppence is the name of an old English coin. The term literally means great, and was applied originally to large copper coins worth more than a penny. In the reign of Edward III a silver groat of the value of eight cents was coined. Three groats made a shilling. It has not been coined since 1856. Like the American cent, the term has passed into proverbial use to denote a small sum or little value. It appears in "Not worth a groat," "I care not a groat," etc. The term groats, applied to hulled oats or meal used for food, is of very different origin, being allied to grit.

Groat coin