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demonetization

demonetization (dē´mŏn´ətəzā´shən), governmental withdrawal of the monetary quality from particular coinage or precious metal. By demonetization former money is no longer legal tender, although in certain cases it may still be used as money of exchange, i.e., the actual metallic value may sometimes be accepted in discharge of indebtedness. However, such was not the case with regard to the demonetization (1933) of U.S. gold. The demonetization law stipulated that gold may not lawfully be used in domestic exchange, although it may be purchased for shipment abroad. Other instances of demonetization were the American conversion (1873) of silver into money of exchange and the similar British conversion (1889) of pre-Victorian gold coins. See money.

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"demonetization." The Columbia Encyclopedia, 6th ed.. . Encyclopedia.com. 25 May. 2017 <http://www.encyclopedia.com>.

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"demonetization." The Columbia Encyclopedia, 6th ed.. . Retrieved May 25, 2017 from Encyclopedia.com: http://www.encyclopedia.com/reference/encyclopedias-almanacs-transcripts-and-maps/demonetization

demonetize

de·mon·e·tize / dēˈmäniˌtīz/ • v. [tr.] (usu. be demonetized) deprive (a coin or precious metal) of its status as money. DERIVATIVES: de·mon·e·ti·za·tion / -ˌmänitəˈzāshən/ n.

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"demonetize." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 25 May. 2017 <http://www.encyclopedia.com>.

"demonetize." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (May 25, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/demonetize

"demonetize." The Oxford Pocket Dictionary of Current English. . Retrieved May 25, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/demonetize

demonetize

demonetize deprive of standard monetary value. XIX. — F. démonétiser, f. DE- 7 + L. monēta MONEY; see -IZE.

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"demonetize." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. 25 May. 2017 <http://www.encyclopedia.com>.

"demonetize." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. (May 25, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/demonetize-0

"demonetize." The Concise Oxford Dictionary of English Etymology. . Retrieved May 25, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/demonetize-0