demonetize

verb demonetizes · demonetizing · demonetized · demonetise

1. transitive To withdraw the status of legal tender from a coin (etc.) and remove it from circulation. A bill to demonetize existing French gold coinage has been introduced in the Chamber of Deputies by Deputies Lenoir, Bouffandeau, and Eymond. The purpose is to force hoarders to bring out gold estimated at 4,000,000,000 francs which is still kept in hiding in spite of patriotic appeals to the owners
2. transitive To declare ineligible or worthless as a medium of exchange or as legal tender. 1943 Post Office Department, U.S., A Description of United States Postage Stamps Issued by the Post Office Department from July 1, 1847, to April 1, 1945 [sic]. Washington: United States Government Printing Office; p4: Stamps of 1847 and 1851 Demonetized These stamps are obsolete and worthless for p
3. Internet, transitive To demote (published content, or its creator) so that it is no longer eligible to earn money for its publisher. The site has the ability to demonetize a video.