A groat. CANT.—The flag of defiance, or bloody flag is out; signifying the man is drunk, and alluding to the redness of his face. Sea phrase.
Definition taken from The 1811 Dictionary of the Vulgar Tongue, originally by Francis Grose.
See also the definition in Nathan Bailey's 1736 dictionary of canting and thieving slang.
Flabby * FlamNathan Bailey's 1736 Dictionary of canting and thieving slang
John S. Farmer's collection of canting songs and slang rhymes