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Demonetization

Demonetization Definition

The governmental withdrawal of the monetary quality from a coinage or precious metal. After demonetization former money is no longer legal tender. E.g. gold was demonetized in the U.S. in 1933. The demonetization law ordered that gold may not lawfully be used in domestic exchange.

RELATED TERMS
Coin
Legal tender
Precious metals
RELATED CATEGORIES
Banking




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