Often used to describe a precise action or prediction in sports commentary. His shot was on the money and secured the team's victory.
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Figurative Sense
Used to express that something is exactly what was needed or expected without being literal about money. Your advice was on the money; it saved me a lot of trouble.
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Colloquial Contexts
Best used in informal conversations rather than formal or academic settings. When he said the event would start at 8 PM sharp, he was on the money.