To my mind, I feel this is about a close relationship, romantic or otherwise, breaking apart, as both people fell out with each other. Especially with the line "So some guy once wrote betrayal takes two, I guess I oughta know since I think that's true." Like a close friend or romantic partner had stabbed him in the back in some way. Imrustyokay (talk) 16:07, 30 July 2018 (EDT)
Betrayal and coins
Though the numbers differ, I gotta believe that this betrayal is being compared to Judas' of Jesus. In this case it's for half as many coins, of even less value - chump change, and not even a precious metal.
To say goodbye with good wishes one signs off with "Best Regards", but the song's title and lyrics say goodbye with only grief and grievances. Still, the narrator recalls happier times, before "suspicions" came into the picture - when the betrayer "ran round" full of fun plans and activities, loose and free. He remembers they stayed up and had a deep conversation through a full dark night, and how open they were to "what was possible". Now nothing can "reanimate" the relationship. What's left is regrets. --Nehushtan (talk) 01:30, 15 August 2020 (EDT)