demonetization

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demonetization

demonetization , 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, Sixth Edition. 2008. Encyclopedia.com. 1 Dec. 2009 <http://www.encyclopedia.com>.

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demonetize

The Concise Oxford Dictionary of English Etymology | 1996 | | Â© The Concise Oxford Dictionary of English Etymology 1996, originally published by Oxford University Press 1996. (Hide copyright information) Copyright

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

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T. F. HOAD. "demonetize." The Concise Oxford Dictionary of English Etymology. 1996. Encyclopedia.com. 1 Dec. 2009 <http://www.encyclopedia.com>.

T. F. HOAD. "demonetize." The Concise Oxford Dictionary of English Etymology. 1996. Encyclopedia.com. (December 1, 2009). http://www.encyclopedia.com/doc/1O27-demonetize.html

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demonetize

The Oxford Pocket Dictionary of Current English | 2009 | © The Oxford Pocket Dictionary of Current English 2009, originally published by Oxford University Press 2009. (Hide copyright information) Copyright

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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