Slang Uses of “Ace” in American English
1. Ace = A top-rated or highly skilled person
Michael is an ace at fixing computers.
She became the ace salesperson of the company within a year.
2. Ace = One dollar (informal slang)
Can you lend me an ace for a cup of coffee?
He found an ace in his jacket pocket.
3. Ace out = To do something very easily or successfully
Jake aced out the driving test without any mistakes.
Our team aced out the competition last weekend.
4. Ace = Nickname for an ordinary person (used sarcastically)
“Nice job, Ace,” the coach said sarcastically after he missed the goal.
Come on, Ace, you forgot the keys again!
5. To ace something out = To complete or achieve something perfectly
She aced out her final interview and got the job immediately. The student aced out the math exam with full marks
Ref: Dictionary of American Slang & Colloquel expressions by Richard A. Spears