Source : Free On-Line Dictionary of Computing

binary coded decimal
     
         (BCD, packed decimal) A number representation where a
        number is expressed as a sequence of decimal digits and then
        each decimal digit is encoded as a four-bit binary number (a
        {nibble}).  E.g. decimal 92 would be encoded as the eight-bit
        sequence 1001 0010.
     
        In some cases, the right-most nibble contains the sign
        (positive or negative).
     
        It is easier to convert decimal numbers to and from BCD than
        binary and, though BCD is often converted to binary for
        arithmetic processing, it is possible to build {hardware} that
        operates directly on BCD.
     
        [Do calculators use BCD?]
     
        (2001-01-27)