It means good time, wonderful time, it's a common US expression. Sometimes it is even more than a good time, it is a great time, with lots of fun and laughter. Another American use of "grand old" for "excellent, outstanding" is a nickname for the Republican political
Party, the "Grand Old
Party." The abbreviation for this, "GOP," is often used in journalism, especially in newspaper headlines: "GOP Chair Slams Dems" for "Republican
Party Chairman Criticizes Democrats Severely." It comes from reference by a Republican orator in the 19th century to his
party as "our grand old
party."It means good time, wonderful time, it's a common US expression. Sometimes it is even more than a good time, it is a great time, with lots of fun and laughter. Another American use of "grand old" for "excellent, outstanding" is a nickname for the Republican political
Party, the "Grand Old
Party." The abbreviation for this, "GOP," is often used in journalism, especially in newspaper headlines: "GOP Chair Slams Dems" for "Republican
Party Chairman Criticizes Democrats Severely." It comes from reference by a Republican orator in the 19th century to his party as "our grand old party."
Silver- Hey, Jack, how was your birthday
party last night?
Jack- I thought it was fine. We were having a grand old time until my
father came back home.