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fiat money

noun
1.
paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
Origin
1870-1875
1870-75, Americanism
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for fiat-money

fiat money

noun
1.
(mainly US) money declared by a government to be legal tender though it is not convertible into standard specie
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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7
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