Green’s Dictionary of Slang

red cent n.

also blue cent, red copper, red dime, red penny, white quarter
[the copper colour of a cent; the blue cent may refer to the blue cardboard ration tokens issued in US during WWII as payment for processed foods (meat tokens were red)]

[mid-19C+] (US) a trivial amount of money, usu. in the phr. not a/one red cent, absolutely nothing.