hand-in-cap

Noun

obsolete uncountable

(obsolete) An old English trading game where two players want to trade possessions. An umpire decides whether the items have the same value, and if not, what the difference is. Both players and umpire then put some forfeit money in a cap. The players put their hands in the cap, and then remove them either open, to signal agreement with the valuation, or closed, to signal disagreement. If both players agree, the difference in valuation is paid, the items are traded, and the umpire collects the forfeit. If both players disagree, the items are not traded, and the umpire collects the forfeit. If one player agrees and the other does not, the items are not traded, and the player who agreed to the valuation collects the forfeit.

Japanese Meaning

（古語）二人の間で物品交換の際、品物の価値を裁定者が判断し、双方および裁定者が罰金を帽子に入れるという取引ゲーム。取引者は帽子に手を入れて、開いた手で評価に同意、閉じた手で異議を示し、合意があれば差額が支払われる仕組みである。