demonetize Meaning, Definition & Usage

  1. verb deprive of value for payment
    demonetise.
    • demonetize a coin

WordNet

De*mon"e*tize transitive verb
Definitions
  1. To deprive of current value; to withdraw from use, as money.
    They [gold mohurs] have been completely demonetized by the [East India] Company. R. Cobden.

Webster 1913