1. To set something down (on some surface). A noun pronoun can be used between "place" and "down." My father sighed when he heard the baby crying, placing down the newspaper he'd been reading and standing up wearily from his chair. Thank you for bringing those boxes in for me. You can place them down on the floor behind my desk.

2. To give a certain amount of money in order to secure something (such as a bet, a mortgage, a lease, etc.). A noun pronoun can be used between "place" and "down." After you place a deposit down, you'll have to continue meeting your monthly repayments in order to retain possession of your car. I went up to the desk to place down a bet on the horse I'd heard about on the radio.