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The Collaborative International Dictionary
Pencel

Pencel \Pen"cel\, n. [See Pennoncel.] A small, narrow flag or streamer borne at the top of a lance; -- called also pennoncel. [Obs.]
--Piers Plowman.
--Chaucer.

Wiktionary
pencel

n. (context now historical English) A small pennon. (from 13th c.)

Usage examples of "pencel".

And thats when the point on his pencel broke and then we got up and went out.