In economics, a local currency, in its common usage, is a currency not backed by a national government (and not legal tender), and intended to trade only in a small area. These currencies are also referred to as community currency. Complementary currency is a hyponym to local currency but the terms are often used as synonyms. As the term is now widely used (and used in this article), it does not refer to currency which is legal tender but happens to only be used in a local area. Numismatics (ancient Greek: ) is the scientific study of money and its history in all its varied forms. ... This article is about monetary coins. ... A £20 Ulster Bank banknote. ... This article is about the herb. ... Coining is a form of precision stamping. ... The term milled coinage is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies (hammered coinage) or casting coins from dies. ... Hammered coinage describes the commonest form of coins produced since the invention of coins in the first millennium BC until the early modern period of ca. ... Wikipedia does not yet have an article with this exact name. ... Wikipedia does not yet have an article with this exact name. ... Exonumia is the study of coin-like objects such as tokens, token coins and medals, and other items used in place of legal currency or for commemoration. ... A Medal can mean three things: a wearable medal awarded by a government for services to a country (such as Armed force service); strictly speaking this only refers to a medal of coin-like appearance, but informally the word also refers to an Order (decoration); a table medal awarded by... // Order may refer to: Religious Holy Orders, the rite or sacrament in which clergy are ordained The monastic orders, originating with Anthony the Great and Benedict of Nursia from circa 300 the military orders of the crusades the various chivalric orders established since the 14th century Honors Order (decoration) Legal... Token can mean one of several things: In computer science, specifically lexical analysis, a token is usually a word or an atomic element within a string. ... The word check has these meanings: In finance, a check is an order for transfer of money. ... A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Daily analysis of economics in the news (UK focus) Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau... Legal tender or forced tender is payment that cannot be refused in settlement of a debt by virtue of law. ... Complementary currency is a hypernym (superordinate) of local currency (also referred to as community currency) and sectoral currency. ... A hyponym (in Greek: υπονύμιον, literally meaning few names) is a word whose extension is included within that of another word. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt by virtue of law. ...

Advocates such as Jane Jacobs argue that this enables an economically cool yet depressed region to pull itself up, by giving the people living there a medium of exchange that they can use to exchange services and locally-produced goods (In a broader sense, this is the original purpose of all money.) Opponents of this concept argue that local currency creates a barrier which can interfere with economies of scale and comparative advantage, and that in some cases they can serve as a means of tax evasion. Jane Jacobs Jane Jacobs, OC , O.Ont (born on May 4, 1916) is an American-born Canadian writer and activist. ... Money Money is any marketable good or token trusted by a society to be used as a store of value, a medium of exchange, and a unit of account. ... ... In economics, the theory of comparative advantage explains why it can be beneficial for two countries to trade, even though one of them may be able to produce every kind of item more cheaply than the other. ... This article contrasts tax evasion, tax avoidance, tax resistance and tax mitigation. ...

Local currencies can also come into being when there is economic turmoil involving the national currency. An example of this is the Argentine economic crisis of 2002 in which IOUs issued by local governments quickly took on some of the characteristics of local currencies. Argentina is a Spanish-speaking country in southern South America, situated between the Atlantic Ocean in the east. ... IOU can refer to: An IOU (I Owe You), a promise of money, goods, services, or other items of value, which may be either written or verbal. ...

Modern Local Currencies

• Africa
• America
  • Argentina
    • Argentino
    • Crédito
    • LECOP
    • Patacón
  • Brazil
    • Curitiba Bonus
    • Sabre
  • Canada
  • USA
• Asia
  • Japan
    • Hureai kippu
    • Eco-Money
    • WAT System
  • Hong Kong (note: Hong Kong dollars are legal tender and are therefore not "local currency" in the sense discussed in this article. The "local currencies" listed here are not legal tender)
    • COME
• Europe
  • France
    • SEL - Système d’Echange Local
    • Troc de Services
  • Germany
    • Berliner
    • Chiemgauer
    • Joytopia
    • Tauschring
  • Italy
    • Banca del Tempo
    • EcoAspromonte
    • REL Rete di Economia Locale
    • Simec
    • Sistema di Reciprocità Indiretta
  • Spain
    • axarco (in Axarquía, Málaga)
  • Switzerland
    • WIR
  • UK
    • LETS - Local Exchange Trading Systems
    • Time bank
• Oceania
• Unclassified
  • Flash Cash
  • Green dollar
  • Interdependant Occupational Unit
  • Interser
  • Ndajem-Wecco
  • RGT - Red Global del Trueque
  • ROCS - Robust Complementary Community Currency System
  • RERS - Réseaux d’Echange Réciproque de Savoirs
  • Rumihuaico
  • Salta Creditos
  • Systèmes d’Echanges Communitares
  • Thay Gerh
  • Tianguis Tlaloc
  • Toctiuco
  • Tontines
  • Yogyakarta System

The Argentino was a planned complementary currency in Argentina towards the end of the Argentine economic crisis. ... The Crédito was a local currency started on 1 May 1995 in Bernal, province of Buenos Aires, Argentina, on a garage sale, which was the first of many neighbourhood barter markets (mercados de trueque) that emerged in Argentina during the economic crisis. ... The LECOP was a bond issued by Argentine national government to replace the Patacón, which was issued by twenty-four of the provincial governments. ... The Patacón (officially called Letra de Tesorería para Cancelación de Obligaciones de la Provincia de Buenos Aires) was a bond issued by the government of the province of Buenos Aires, Argentina, during 2001. ... The Sabre currency is an educational sectoral currency in Brazil that is handed out by the ministry of education. ... Hureai kippu (a rough English translation: Caring Relationship Tickets) is a Japanese community currency created in 1995 by the Japanese Welfare Institute so that people could earn credits helping seniors in their community. ... Eco-Money is the name of many japanese community currencies, used to connect neighbours in obtaining the goods and services they need. ... The Hong Kong Dollar (ISO 4217: HKD) is the official currency of the Hong Kong Special Administrative Region of the Peoples Republic of China. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt by virtue of law. ... Community Oriented Mutual Exchange COME is a Local currency project, started in Hong Kong by the St. ... SEL is a may refer to: Elitserien, Swedish League code in SEL. The Mercedes-Benz SEL, an Automobile. ... Chiemgauer is the name of a REGIO community currency started on 2003 in Prien am Chiemsee, Bavaria, Germany. ... Joytopia is an alternative economic system started in 2003 by Bernd Hückstädt. ... Axarquia is a region of Andalucía. ... When Its Ready. ... Local Exchange Trading Systems (LETS) are local, non-profit exchange networks in which all kinds of goods and services can be traded without the need for money. ... Local Exchange Trading Systems (LETS) and Schemes are local, non-profit exchange networks in which all kinds of goods and services can be traded without the need for money. ... In economics, a time-based currency is a currency where the unit of exchange is the hour. ... The Republic of China Navy (中華民國海軍; pinyin: Zhōnghuá Mínguó Hǎijūn) is the maritime branch of the armed forces of the Republic of China (Taiwan). ...

Historical Local Currencies

• Emperor Norton's own currency
• Prosperity Certificate
• WARA

Joshua A. Norton, Emperor Norton I Joshua Abraham Norton (ca. ... Albertas Social Credit government introduced prosperity certificates in 1936 in an attempt to alleviate the effects of the Great Depression. ...

See also

• Ripple monetary system
• Complementary currency
• List of economics topics
• Money
• Private currency
• Freigeld
• Time-based currency
• FAZ

Ripple is an open-source software project for developing a peer-to-peer distributed social network service with a monetary honor system based on trust that already exists between people in real-world social networks. ... Complementary currency is a hypernym (superordinate) of local currency (also referred to as community currency) and sectoral currency. ... This aims to be a complete list of the articles on economics. ... Money Money is any marketable good or token trusted by a society to be used as a store of value, a medium of exchange, and a unit of account. ... A private currency is a currency issued by a private institution. ... In the theory of Freiwirtschaft, Freigeld (German for free money) is a monetary (or exchange) unit. ... It has been suggested that Time Dollar be merged into this article or section. ... This article needs to be cleaned up to conform to a higher standard of quality. ...

External links

• LETS
• Community currency Resources
• Community Currencies
• Complementary Community Currency Systems
• Alternative Money Systems
• Local Currency Directory for USA & Canada
• Network of german local currencies
• Parallel Currency Systems in Asia