"broke, out of money," 1925, slang variant of skinned, past participle of skin (v.).
Entries linking to skint
skin v.
late 14c., skinnen, "to remove the skin from" (originally in reference to circumcision), from skin (n.). As "to have (a particular kind of) skin" from c. 1400. As "provide with skin, cover as with skin," 1540s.
In 19c. U.S. colloquial use, "to strip of valuable possessions, fleece, plunder;" hence skin-game (1868), one in which one player has no chance against the others (as with a stacked deck), the type of con game played in a skin-house ("gambling house;" the same phrase, for "theater featuring nude women" is attested by 1972). Skin the cat in gymnastics is from 1845. Related: Skinned; skinning.