The American quarter? (3,4)

I believe the answer is:

two bits

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This might be a double definition.

'the american' is the first definition.
Both the definition and answer are singular nouns.
Perhaps they are linked in a way I don't understand?

'quarter?' is the second definition.
(I've seen this in another clue)

Can you help me to learn more?

I've seen this clue in The Guardian and The Globe and Mail.

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