"When the pennies were taken out of circulation in Canada you had until a certain date to use whatever you had on hand and then no more using them as legal currency."
I'd like to point out though, that this doesn't preclude them being used for interpersonal (rather than "legal") transactions. Kunstler's "World Made by Hand" series has the characters utilizing the remaining pieces of coinage as a currency when it's obvious that there's no gov't minting more. It becomes a kind of agreed-upon unit of value (as money is), but with only social backing rather than that of the gov't.
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branchandroot
Re: Here Come "Programmable Dollars": New York Fed And 12 Banking Giants Launch Digital Dollar Test
Date: 2022-11-18 08:31 pm (UTC)I'd like to point out though, that this doesn't preclude them being used for interpersonal (rather than "legal") transactions. Kunstler's "World Made by Hand" series has the characters utilizing the remaining pieces of coinage as a currency when it's obvious that there's no gov't minting more. It becomes a kind of agreed-upon unit of value (as money is), but with only social backing rather than that of the gov't.