One of the mysteries of the English language finally explained.
Deprive (a coin or precious metal) of its status as money.‘coins minted with the name and portrait of Emperor Caligula were demonetized after his death’
- ‘In the United States, the Coinage Act of 1873 officially demonetized silver, legally confirming a gold-based currency that - because of silver's relatively high price - was already the de facto standard.’
- ‘They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips.’
- ‘If gold was really to be demonetized, then the enormous stocks relative to flows would have to be dissipated first through consumption.’
- ‘But by 4 February 1797, when the mandates were officially demonetized, the revolutionary experiment with paper money was at an end.’
- ‘It is not up to the governments to monetize or demonetize a commodity.’
- ‘There's talk of demonetizing the penny altogether.’
- ‘By 1908, however, silver had effectively been demonetized in Europe, and, although a number of countries could not offer full convertibility, in practice exchange rates were fixed in gold terms.’
Mid 19th century: from French démonétiser, from dé- (expressing reversal) + Latin moneta ‘money’.
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