Phoenix Dollars
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 Definitions
Articles Of Interest
-
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. -
Top 7 Questions About Currency Trading Answered
Whether you're puzzled by pips or curious about carry trades, your queries are answered here. -
Dollarization Explained
Find out how fledgling economies can find some stability in their currency and attract foreign investment. -
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. -
Is The Gold Pain Over?
After falling more than 13%, gold has staged a rebound but is that for fundamental reasons or the work of value investors? Will gold reward investors who didn't give up or is there more pain ... -
What Is Wrong With Gold?
Despite its historic and symbolic appeal, this metal is simply a commodity. Here we explore its meaning as an investment. -
Should You Add A Securities License To Your Qualifications?
Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it. -
The Best Way To Buy Silver
Discover whether ETFs or physical bullion is the best way for investors to get exposure to silver. -
5 ETFs Flaws You Shouldn't Overlook
Despite their popularity, exchange traded funds have some drawbacks that investors should know about. -
Investing In IPO ETFs
Learn the history, rules and risks of investing in IPO exchange-traded funds.
Free Annual Reports