Green’s Dictionary of Slang

1. (UK und.) to sell stolen goods to a receiver.

1849

Coventry Standard 28 Dec. 4/5: ‘I have blued that parcel for two shillings and if you don’t keep it quiet I’ll punch your mouth for you.’ [...] The term ‘blued’ [the witness] believes, is a flash word for selling stolen articles .

2. (also blue in) to pawn.

1853		Dickens ‘Slang’ in Household Words 24 Sept. 75/2: To pawn is to spout, to pop, to lumber, to blue.
1860		Hotten Dict. of Modern Sl. etc. (2nd edn).
1864, 1867, 1870		Hotten Sl. Dict.
1873		Sl. Dict.
1880		E.J. Milliken ‘Cad’s Calendar’ in Punch Almanack n.p.: Fan’s a screamer; this top coat? — would blue it, / Yaller at the seams, black ink wont do it.
1890–1904		Farmer & Henley Sl. and Its Analogues.

3. see blew v.²