Peggys Cove was named by the French explorer Samuel de Champlain, who explored Nova Scotia in the early 1600's. He named the region, St. Marguerite's Bay, after his mother. Marguerite's Cove, was the name originally given to the cove.
As the English exerted more control over Nova Scotia, people started to use the English translation of the name Margaret. Peggy is the nickname commonly used for people who are named Margaret. Over time, Peggys Cove became the name people preferred to use and is still used to this day.
Having said that, there is a second account of how Peggys Cove was named. It is a dramatic and romantic story that has captured the hearts of many.
It is told that during the 1800's a schooner wrecked at Halibut Rock near Peggys Cove during a storm on a dark October night during a storm of sleet, Apparently, there was only one survivor of the wrecked schooner. The survivor was a young woman who swam towards shore and was rescued by people who rescued her there.
The woman's name was Margaret, who went by the common nickname of Peggy. After her dramatic rescue, she would come to live in the community and later marry a eligible bachelor from the area. The nearby residents would often say that they where going to visit the young lady who they referred to as Peggy of The Cove. This would later inspire the name of the location to become Peggys Cove.
There are several different variations of this story. In another version, it is believed that she was a young girl who developed amnesia after the wreck of her vessel and didn't remember her name and the local residents decided to name her Peggy. In both stories, the female is brought into the village and would marry a fisherman who lived in the community.
Everyone loves a great romance, however, the more likely scenario is that Peggys Cove was named after Samuel de Champlain's mother.