The saying makes perfect sense if you think how easy it is, when you've been working on something for a long time, to get to a point where you think, "That's it, I've had enough" and rush the last stages. The more common saying, "If a job's worth doing, it's worth doing well" has a similar idea but is less specific. There is also a poem beginning "For want of a nail, the shoe was lost, for want of a shoe the horse was lost…" which goes on to describe a complete disaster, all caused by someone failing to provide a horseshoe nail.
The saying makes perfect sense if you think how easy it is, when you've been working on something for a long time, to get to a point where you think, "That's it, I've had enough" and rush the last stages. The more common saying, "If a job's worth doing, it's worth doing well" has a similar idea but is less specific. There is also a poem beginning "For want of a nail, the shoe was lost, for want of a shoe the horse was lost…" which goes on to describe a complete disaster, all caused by someone failing to provide a horseshoe nail.
This proverb or saying means that you should not spoil something fine and good, which you are in the process of creating or achieving, by economising on one small part of it, just to save a little money, time or trouble.
You should ensure that equal importance is given to even the smallest of details, so that the finished product or result is as good as it can be. For example, you want to make a cheesecake, and have bought each ingredient freshly. You then realise that a vital ingredient - the ricotta cheese - is past its sell by date. What should you do? Remember -"Don't spoil the ship for a halfpenny worth of tar!". Go and buy fresh ricotta cheese, so that your finished cheesecake will be as good as you can make it. It will then taste delicious, just as the author of the recipe had intended, and you will be happy to serve it to friends and family.