From The Collaborative International Dictionary of English v.0.48:
Rust \Rust\, v. i. [imp. & p. p. Rusted; p. pr. & vb. n. Rusting.] [AS. rustian.] 1. To contract rust; to be or become oxidized. [1913 Webster]
If gold ruste, what shall iron do? --Chaucer. [1913 Webster]
Our armors now may rust. --Dryden. [1913 Webster]
2. To be affected with the parasitic fungus called rust; also, to acquire a rusty appearance, as plants. [1913 Webster]
3. Fig.: To degenerate in idleness; to become dull or impaired by inaction. [1913 Webster]
Must I rust in Egypt? never more Appear in arms, and be the chief of Greece? --Dryden. [1913 Webster]