1. a word used by hippies to describe something of high quilty
2. really potent weed, produced by proper slow drying of harvested plant material, usually requiring curing (putting plant material in paper bag, folding over top, placing that bag in another bag. Thus reducing air and light contact on said plant materials, so when you go to retrieve some of said plant materials, it is still moist, green and sticky because the resin glands are still intact and 'sweating'.
"that's a dank car"
"I'm smoking some dank weed"