I don't know who said it first, but it's been around at least 40 years. Context would be either fireworks or war materiel.

I am assuming that it has nothing to do with the mating of deer.

It could be related to the "business" of prostitution.

Jenna Jameson?

This phrase originates in Cold War deliberations concerning funding new weapons. For example, the US Air Force habitually claimed that ballistic missiles such as ICBM's could do more damage to an enemy country for a given expenditure than a Navy aircraft carrier could. Thus, they claimed, missiles give more "bang for the buck" than ships. Alternatively, the price paid to a prostitute, like most things in this world, can be negotiated, a lower price yielding more "bang for the buck". http://members.aol.com/MorelandC/HaveOriginsData.htm [more/a bigger/best etc.] bang for your buck (American, informal): if something that you buy gives you more bang for your buck, you get more value for your money by buying this product than from buying any other. "If all you want is death-benefit cover, this type of insurance policy will give you more bang for your buck." bang for the buck: value in exchange for money or effort. This is a great little red wine that gives you plenty of bang for the buck. Usage notes: often used with more, bigger, and other adjectives: For most users, these new computers provide more bang for the buck. Etymology: based on the slang meaning of bang (= excitement ) and buck (= money) http://idioms.thefreedictionary.com/bang+for+buck

I would think my boss who let me pay for my own lunch at a business meeting last week. Tacky much?