fiat money


noun

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. 2019

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British Dictionary definitions for fiat money

fiat money


noun

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