How Long is a Minute?

Quick thought: How long is a "minute"?

Have you ever been on the phone and the person on the other end ask you to "hold on a minute"?
How long does that "minute" last for? Is it the basic 60 seconds or is it longer?

I was thinking of this today while waiting for the "walk" sign at a cross walk. I frequently (and many others do too) get impatient when asked to wait for the proper ok to cross the street and instead just wait for the traffic to open up enough for us to scamper through. Today I was carrying some boxes and couldn't do that and I was amazed at how long 65 seconds of "don't walk" took.

Hum....