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fiat money

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noun
  1. paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.

Origin of fiat money

An Americanism dating back to 1870–75
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

Examples from the Web for fiat money

Historical Examples

  • It was also, and very logically, the beginning of the fiat-money party.

    Readings in Money and Banking

    Chester Arthur Phillips


British Dictionary definitions for fiat money

fiat money

noun
  1. mainly US money declared by a government to be legal tender though it is not convertible into standard specie
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012