demonetizev.
/(ˌ)diːˈmʌnᵻtʌɪz/, U.S. /diˈmɑnəˌtaɪz/ transitive. To deprive (a type of coin, note, currency, or precious metal) of its status as money; to withdraw from use as legal tender.
ΘΚΠ
society > trade and finance > money > circulation of money > put into circulation [verb (transitive)] > withdraw as legal tender
demonetize1795
1795 tr. F. D'Ivernois Cursory View of Assignats ii. 46 It is not of so much consequence, said he [sc. Bourdon], to demonetise [Fr. démonétiser] the assignats, as to withdraw from circulation assignats which already are actually demonetised [Fr. démonétisés].
1852 T. Hankey tr. L. Faucher Remarks Production Precious Metals 31 On August 6, 1849, the Government laid before the Assembly the scheme of a law to ‘demonitise’ [Fr. démonétiser] the pieces of five and ten florins.
1876 H. Fawcett Man. Polit. Econ. (ed. 5) iii. xv. 487 Germany has,..within the last few years demonetised silver.
1923 Economica 8 116 The Governments..were obliged to demonetize the existing coins and to debase their currency.
2001 Compar. Stud. Society & Hist. 43 776 The only feasible solution was to demonetize the Indian rupee.
Derivatives
deˈmonetizing n.
ΘΚΠ
society > trade and finance > money > value of money > [noun] > depriving of value
demonetization1795
demonetizing1853
1853 T. Wilson Jottings on Money 83 Merchants not understanding the demonetising of gold by the Dutch in 1850.
1916 Thinkograph Sept. 46 The demonetizing of half the people's money was the greatest legalized crime since the law passed.
1998 D. Shotter Rom. Brit. vii. 69 The state of the coinage is a clear measure of financial problems—particularly the demonetising of lower denominations.
This entry has been updated (OED Third Edition, March 2014; most recently modified version published online March 2022).
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