legal tender

American  

noun

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

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legal tender British  

noun

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

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legal tender Cultural  

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

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Etymology

Origin of legal tender

First recorded in 1730–40

Example Sentences

Utah, a state with a long mining legacy, was the first to reaffirm gold and silver as legal tender in 2011.

From The Wall Street Journal

Yes, Gulf statelets like Aden were overseen by the Bombay presidency, and yes, the India rupee was, for the most part, their legal tender.

From The Wall Street Journal

In 2021, El Salvador made bitcoin legal tender alongside the US dollar.

From BBC

Pennies will remain legal tender, so they can still be used or exchanged for other cash.

From The Wall Street Journal

All UK coins featuring the late Queen's profile remain legal tender and in active circulation, alongside her son's coins.

From BBC