An old man, especially one with grey or white beard hair; also, an earthenware jug or bottle used historically for storing spirits.
Compound from 'grey' plus 'beard,' literally describing the appearance of an elderly man. The vessel meaning comes from German 'Greybeard' pottery styles produced in the 16th-17th centuries.
The term shows up in Shakespeare and old literature as slang for wise old men, but it's also surprisingly specific—actual ceramic 'greybeard' jugs are now museum pieces and are sometimes found in archaeological digs from colonial America.
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