From palai; antique, i.e. Not recent, worn out -- old.
see GREEK palai
1. old, ancient (the Sept. several times for יָשָׁן and עַתִּיק): οἶνος παλαιός (opposed to νέος), Luke 5:39 (but WH in brackets) (Homer Odyssey 2, 340; Sir. 9:10); διαθήκη, 2 Corinthians 3:14; ἐντολή (opposed to καινή), given long since, 1 John 2:7; ζύμη (opposed to νέον φύραμα), 1 Corinthians 5:7f; neuter plural παλαιά (opposed to καινά), old things, Matthew 13:52 (which seems to allude to such articles of food as are fit for use only after having been kept some time (others consider clothing, jewels, etc., as referred to; cf. θησαυρός, 1 c.); dropping the fig, old and new commandments; cf. Sir. 24:23; Hebrews 5:12ff); ὁ παλαιός ἡμῶν ἄνθρωπος (opposed to ὁ νέος). our old man, i. e. we, as we were before our mode of thought, feeling, action, had been changed, Romans 6:6.; Ephesians 4:22; (Colossians 3:9).