What is Private Currency?

Circulated currency issued by a private entity or any decentralized joint enterprise. Issuing physical, non-digital, currency with the intent to be used as tender is illegal in some countries, including the United States as of 1948. Old specie of privately minted coin, complementary currencies, and obsolete banknotes are valuable to collectors for their historical significance. Modern uses of private currency include precious metal trade exchanges that use barter credits, local paper money, and digital currencies.

What people ask…

Is private currency legal?
Is it illegal to make a new currency?
Can banks issue their own currency?
Can a state have its own currency?

See Also…

Cryptocurrency, Fiat Money, Clearinghouse

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