Phoenix Dollars

AAA

DEFINITION of 'Phoenix Dollars '

One-ounce silver disks introduced in October 2005 by an individual named Gordon Hayes. Phoenix Dollars are not legal tender or official currency as they are not endorsed by any sovereign government, nation or state. Phoenix Dollars were introduced as a means of protecting wealth because their value does not depend on fiat currency, but is based on the market price of silver. They have a reeded edge as a security feature.

INVESTOPEDIA EXPLAINS 'Phoenix Dollars '

Phoenix Dollars are not associated with the city of Phoenix, Arizona. According to their creator, Hayes, they derive their name from the mythical Phoenix bird, as a metaphorical representation of the death of the old currency system and the birth of the new.

RELATED TERMS
  1. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  2. Time-Based Currency

    A currency whose value is based on one man-hour of labor. A time-based ...
  3. Silver Standard

    A monetary system in which a country's government allows its ...
  4. Lawful Money

    Any form of currency issued by the United States Treasury and ...
  5. Gold Standard

    A monetary system in which a country's government allows its ...
  6. Silver

    An element commonly used in jewelry, coins, electronics and photography. ...
RELATED FAQS
  1. How can I calculate the Macaulay duration of a zero-coupon bond?

    The funds from operations is a measure of the amount of cash flow that a business's operations generates. Real estate investment ... Read Full Answer >>
  2. How does an entrepreneur choose a business structure?

    Swaps are derivative contracts between two parties that involve the exchange of cash flows. Interest rate swaps involve exchanging ... Read Full Answer >>
  3. What are some securities that have spot rates?

    Commodities, currencies and bonds are among the many assets that have spot rates. A spot rate is the current price quoted ... Read Full Answer >>
  4. What are some common markets where notional value is used?

    Notional value is commonly used in futures and swap markets. The notional value is the total net amount of derivative contracts, ... Read Full Answer >>
  5. What risks are associated with a closed end investment?

    A closed-end fund is an investment instrument that is listed on an exchange and trades much like common stock shares. Its ... Read Full Answer >>
  6. Can an investor use leveraged ETFs to invest in the airline sector?

    As of 2015, there are no leveraged exchange-traded funds (ETFs) available to track the airline industry within the transportation ... Read Full Answer >>
Related Articles
  1. Forex Education

    Economic Factors That Affect The Forex Market

    Knowing the factors and indicators to watch will help you keep pace in the competitive and fast-moving world of forex.
  2. Forex Education

    Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.
  3. Forex Education

    Dollarization Explained

    Find out how fledgling economies can find some stability in their currency and attract foreign investment.
  4. Forex Education

    The Plaza Accord: The World Intervenes In Currency Markets

    In 1985, the G-5 nations signed an agreement to devalue the United States currency and correct the GDP. To an extent, it worked. But there were casualties.
  5. Chart Advisor

    Commodity Traders are Watching These 3 Charts

    As we head towards the summer months, many commodity traders are looking to diversify their holdings and to protect themselves against inflation.
  6. Chart Advisor

    Copper Is Headed For A Pullback

    While copper prices have stabilized over the past few weeks it may still be too early for most commodity traders to enter a long position.
  7. Professionals

    A Look at How the Ultra-Wealthy Invest

    Ultra-wealthy investors are cautious this year as they approach the markets. Many target mutual funds and stocks, but most also diversify their portfolios.
  8. Mutual Funds & ETFs

    Top Commodities ETFs for Your Retirement Portfolio

    There are many commodity-tracking ETFs, but only a few are must-adds to your retirement portfolio.
  9. Investing

    Should You Buy Marijuana Stock?

    The legalization of marijuana has created a new investment niche: pot stocks.
  10. Investing Basics

    Explaining Currency Swaps

    A swap that involves the exchange of principal and interest in one currency for the same in another currency.

You May Also Like

Hot Definitions
  1. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  2. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  3. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  4. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
  5. Risk Premium

    The return in excess of the risk-free rate of return that an investment is expected to yield. An asset's risk premium is ...
  6. Product Line

    A group of related products manufactured by a single company. For example, a cosmetic company's makeup product line might ...
Trading Center