Green’s Dictionary of Slang

coax v.

[orig. use of SE coax, to fool, to take in; which is apparently linked to 16C cokes, a simpleton, a gullible fool]

to pull down the soiled or holed part of one’s stocking so that it is hidden by the heel of one’s shoe.

[UK]Grose Classical Dict. of the Vulgar Tongue.
[UK]Lex. Balatronicum.
[UK]Egan Grose’s Classical Dict. of the Vulgar Tongue.