1 [kwid]
a portion of something, especially tobacco, that is to be chewed but not swallowed.

1720–30; dialectal variant of cud

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2 [kwid]
noun, plural quid.
British Informal. one pound sterling.

1680–90; origin uncertain

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
quid1 (kwɪd)
a piece of tobacco, suitable for chewing
[Old English cwidu chewing resin; related to Old High German quiti glue, Old Norse kvātha resin; see cud]

quid2 (kwɪd)
n , pl quid
1.  slang (Brit) one pound sterling
2.  slang (Brit) quids in in a very favourable or advantageous position
3.  slang (Austral), (NZ) not the full quid mentally subnormal
[C17: of obscure origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

"bite-sized piece" (of tobacco, etc.), 1727, dial. variant of M.E. cudde, from O.E. cudu, cwidu (see cud).

"one pound sterling," 1688, British slang, possibly from quid "that which is" (1606, see quiddity), as used in quid pro quo (q.v.).
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
quid pro quo [(kwid proh kwoh)]

A fair exchange; the phrase is most frequently used in diplomacy: “The Chinese may make some concessions on trade, but they will no doubt demand a quid pro quo, so we must be prepared to make concessions too.” From Latin, meaning “something for something.”

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
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Published by Houghton Mifflin Company. All rights reserved.
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