A unit of currency or coin in the Americas worth a fraction of a Spanish dollar; now specifically, an eighth of a US dollar.
In the southern and southwestern states, a small silver coin (such as the real) formerly current; commonly, one worth about 12½ cents; also, the sum of 12½ cents.
From Middle English bitte, bite, from Old English bita and bite, from Proto-Germanic *bitô and *bitiz; both from Proto-Indo-European *bʰeyd-.
Cognate with West Frisian bit, Saterland Frisian Bit, Dutch bit, German Low German Beet, Biet, German Biss and Bissen, Danish bid, Swedish bit, Icelandic biti.