1 [hey-dey]
the stage or period of greatest vigor, strength, success, etc.; prime: the heyday of the vaudeville stars.
Archaic. high spirits.
Also, heydey.

1580–90; variant of high day, apparently by confusion with heyday2

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2 [hey-dey]
interjection Archaic.
(used as an exclamation of cheerfulness, surprise, wonder, etc.)

1520–30; rhyming compound based on hey; replacing heyda < German hei da hey there

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
heyday (ˈheɪˌdeɪ)
the time of most power, popularity, vigour, etc; prime
[C16: probably based on hey]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

c.1590, alteration of heyda (1526), exclamation of playfulness or surprise, something like Mod.Eng. hurrah, apparently an extended form of M.E. interjection hey, hei. Modern sense of "stage of greatest vigor" first recorded 1751, which altered the spelling on model of day, with which this word apparently
has no etymological connection.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
The heyday of the hippies lasted for all of about two years.
Two of them, published last year, provide bookends for the heyday of theory.
Salt from the desert had great value and, along with other caravan goods,
  enriched the city in its heyday.
And how about some actual reporting instead of political heyday.
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