legal tender

noun

1. currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins.

legal tender

noun

1. currency in specified denominations that a creditor must by law accept in redemption of a debt

legal tender

1. Any form of money that a government decrees must be accepted in payment of debts .

Word History and Origins

Origin of legal tender¹

First recorded in 1730–40

Example Sentences

This slump is due to an increase in demand for the US dollar, which is also legal tender.

From BBC

They said that the National Park Service’s cashless policy violates federal law, citing a U.S. code that requires U.S. currency to be legal tender for all public charges.

From Los Angeles Times

The government says its investments in Bitcoin - in which El Salvador declared the cryptocurrency legal tender - are now in the black.

From BBC

One obstacle is that ditching the Central Bank and making the US dollar legal tender would need approval from the Argentina's Congress and could even require changing the constitution.

From BBC

In the order, Judge Findley said that while coins were legal tender, paying such a large settlement in coins would reduce the settlement because of the time and expense required to accept it.

From New York Times