gim-peg noun1 •(historical) An adjustable flanged bent iron rod that rises from the workbench of a lapidary and which is used as a guide for the vertical angle when cutting facets, and also to support the arm of the lapidary.A very important substitute for the gim-peg socket, already described, is the dial, by means of which facets can be cut with great precision. — 1894 formsgim-pegs