Top Definition
an uneven exchange or transaction, two bits = 25 cents, four bits = 50 cents, six bits = 75 cents, 8 bits = one dollar. These expressions were used early in the 20th Century to talk about low valued things. Such as "He's got a two bit job."
He came out four bits for a buck on the deal.
by Arlan Holt March 29, 2004
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