inconvertible paper money

inconvertible paper money
Paper money that cannot be converted into gold. Most paper money now falls into this category, although until 1931, in the UK, the Bank of England had an obligation to supply any holder of a bank note with the appropriate quantity of gold.

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  • paper standard — noun : a monetary system based on inconvertible paper money as the standard …   Useful english dictionary

  • inconvertible — [in΄kən vʉrt′ə bəl] adj. [LL(Ec) inconvertibilis] that cannot be converted; that cannot be changed or exchanged [paper money that is inconvertible into silver] inconvertibility n …   English World dictionary

  • money — moneyless, adj. /mun ee/, n., pl. moneys, monies, adj. n. 1. any circulating medium of exchange, including coins, paper money, and demand deposits. 2. See paper money. 3. gold, silver, or other metal in pieces of convenient form stamped by public …   Universalium

  • inconvertible — adjective Etymology: probably from Late Latin inconvertibilis, from Latin in + convertibilis convertible Date: 1646 not convertible: as a. of paper money not exchangeable for coin b. of a currency not exchangeable for a foreign currency •… …   New Collegiate Dictionary

  • inconvertible — inconvertibility, inconvertibleness, n. inconvertibly, adv. /in keuhn verr teuh beuhl/, adj. 1. (of paper money) not capable of being converted into specie. 2. not interchangeable. [1640 50; < LL inconvertibilis not alterable. See IN 3,… …   Universalium

  • inconvertible — in•con•vert•i•ble [[t]ˌɪn kənˈvɜr tə bəl[/t]] adj. 1) bus (of paper money) not capable of being converted into specie 2) not interchangeable • Etymology: 1640–50; < LL in con•vert i•bil′i•ty, n. in con•vert′i•bly, adv …   From formal English to slang

  • inconvertible — /ɪnkənˈvɜtəbəl/ (say inkuhn vertuhbuhl) adjective 1. (of paper money) not capable of being converted into specie. 2. not interchangeable. –inconvertibility /ˌɪnkənvɜtəˈbɪləti/ (say .inkuhnvertuh biluhtee), inconvertibleness, noun –inconvertibly,… …   Australian English dictionary

  • fiat money — noun inconvertible paper money made legal tender by a government fiat …   English new terms dictionary


  • Fiat currency — The terms fiat currency and fiat money relate to types of currency or money whose usefulness results, not from any intrinsic value or guarantee that it can be converted into gold or another currency, but instead from a government s order (fiat)… …   Wikipedia