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Verb(1) deprive of value for payment

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(1) It is not up to the governments to monetize or demonetize a commodity.(2) If gold was really to be demonetized , then the enormous stocks relative to flows would have to be dissipated first through consumption.(3) 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.(4) They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips.(5) The demonetization of cowries or manillas (copper rods) provoked strong protest from people whose savings were in these forms, to such a degree, indeed, that the British were eventually forced to offer conversion facilities.(6) The long inflation which had given so much to the peasants for two generations had been associated with the world-wide demonetization of silver, which depressed its value in China and led to rising commodity prices.(7) But by 4 February 1797, when the mandates were officially demonetized , the revolutionary experiment with paper money was at an end.(8) In the initial stages it involved an attempt to reduce the value of gold and silver relative to banknotes, ultimately followed by a policy announcing the complete demonetization of gold and a phased series of reductions in silver.(9) 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.(10) There's talk of demonetizing the penny altogether.(11) The source of the problem was the initial demonetization of gold and silver which took place between 1913 and 1945.(12) Parallel to currency substitution, growing demonetization - the reliance on barter trade - can fuel inflation.