'argosy' originates from Italian, specifically the word 'ragusea' (from Ragusa, the Adriatic port now called Dubrovnik), where 'Ragusa' referred to the coastal city that owned or manned such merchant ships.

'argosy' changed from Middle English 'argosie' (borrowed via Italian 'ragusea' or Medieval Latin forms referring to Ragusa's ships) and through folk adaptation and phonetic change became the modern English word 'argosy'.

Initially it meant 'a ship from Ragusa (Ragusa's merchant ship)', but over time it evolved into the broader meaning 'a large merchant ship or a fleet of merchant ships' and was later used figuratively for any large or rich collection.