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If this quic is merely a corruption of wick, meaning dwelling or village, it would be obvious that Saxon influence had been at work here, as in the other old name for Falmouth, Smithic or Smethic, interpreted as Smith-wick.
There was a settlement at Penmerryn, or Penmarin, now Penryn; and the spot on which Falmouth stands appears to have been known as Pen-y-cwm, the "head of the valley," to which the syllable quic was added, thus forming the familiar Penny-come-quick, for which it has been easy to find a plausible but erroneous derivation.
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