Yes, peag is a Scrabble word!
...and is worth 7 points in Scrabble, and 9 points in Words with Friends
peag
Noun
1. Small cylindrical beads made from polished shells and fashioned into strings or belts; used by certain Native American peoples as jewelry or currency
What Scrabble words can I make with the letters in peag?
4 Letter Words
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3 Letter Words
2 Letter Words