beat

beat
 n.— «When officers came up empty, Ross told them Slater’s friend sold him a bag of weed that turned out to be “beat,” which is “street lingo for a counterfeit substance.”» —“The week in crime” by Chris Faraone Weekly Dig (Boston, Mass.) Mar. 23, 2005. (source: Double-Tongued Dictionary)

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Further reading

Gold Dance (episode #1573)

People who hunt treasure with metal detectors have a lingo all their own. Canslaw means the shreds of aluminum cans left after a lawnmower ran over them. And gold dance? That’s the happy jig you do if you find something far more valuable than...