Posted by Bruce Kahl on February 04, 2004
In Reply to: Re: Two Bits posted by Henry on February 04, 2004
: : Hearing this phrase often from my grandfather "Two Bits", I know it means .25 cents. What's a bit and if it's two of them, why .25 cents?
: It's an arbitrary small amount. Similarly, "I wouldn't give tuppence for it." (two pence)
See link below from a previous discussion we had here a while ago.