Word: iou
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Dates: during 1960-1969
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Most players observe a strict honor code. "The loser will almost always cough up--eventually," one gambler said. There are, of course, the notable exceptions. One perpetual loser's IOU's (known to the holders as moths) were sold back and forth at 20 per cent of face value. At his graduation, a number of his friends got together and gave him several hundred dollars worth of his own moths...