quarter n. Two bits. This in turn comes from the `pieces of eight' famed in pirate movies --- Spanish silver crowns that could be broken into eight pie-slice-shaped `bits' to make change. Early in American history the Spanish coin was considered equal to a dollar, so each of these `bits' was considered worth 12.5 cents. Syn. tayste, crumb, quad. Usage: rare. See also nickle, nybble, byte, dynner.