Obsolete British slang for a coiner — someone who counterfeits coins or currency.
Obsolete British slang for a coiner — someone who counterfeits coins or currency. 'Bit' was slang for a small coin, and 'faker' was a general underworld term for someone who creates or deals in fake goods. The compound belongs entirely to the thieves' cant vocabulary of the 18th and 19th centuries.
The magistrate sentenced the bit-faker to transportation for producing counterfeit shillings.
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(obsolete, slang) A coiner of counterfeit money.