Rags old iron rags old iron
  All he was buying was just rags and old iron
  I heard that old rag man now making his rounds
  He came right to my alley Lord
  with sorrowful sounds
  Crying rags old iron and pulling his cart
  Ask him how much he'd give me for my broken heart
  
  Rags old iron rags old iron
  All he was buying was just rags and old iron
  So I asked that old rag man how much he would pay
  For a heart that was broken baby
  when you went away
  For a burnt out old love light
  that no longer beams
  And a couple of slightly used second hand dreams
  
  Rags old iron rags old iron
  All he was buying was just rags and old iron
  For those big empty promises you used to make
  For those memories of you
  that are no longer sweet
  I wish he could haul them off down the street
  
  Rags old iron rags old iron
  All he was buying was just rags and old iron
  When love doesn't last tell me what is it worth
  It was once mama's most precious
  possession on earth
  When I asked that old rag man if he'd like to buy
  He just shook his head and continued to cry
  
  Rags old iron rags old iron
  All he was buying was just rags and old iron
  Rags old iron rags old iron
  Rags old iron rags old iron rags old iron