16c. of money; c. 1600 of beer, "from Lubeck," the Hanseatic city in northern Germany, from German lübisch, Dutch lubeksch (adj.), from Lübeck. Formerly a trade center, hence its use as an adjective in English. The city was founded 1143 and is said to be named for the former principality of the Liubichi, literally "the people of prince Liub" (literally "beloved").
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