Demonetize meaning

dē-mŏnĭ-tīz, -mŭn-
To divest (a coin, for example) of monetary value.
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To stop using (a metal) as a monetary standard.
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To deprive (esp. currency) of its standard value.
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To stop using (silver or gold) as a monetary standard.
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To withdraw the status of legal tender from a coin (etc.) and remove it from circulation.
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Origin of demonetize

  • French démonétiser dé- away from (from Old French de- de–) Latin monēta coin money

    From American Heritage Dictionary of the English Language, 5th Edition