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What does demonetized mean?

Looking for the meaning or definition of the word demonetized? Here's what it means.

Verb
  1. simple past tense and past participle of demonetize
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Examples
They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips.
If gold was really to be demonetized, then the enormous stocks relative to flows would have to be dissipated first through consumption.
In an economy that only three years ago was as demonetized as Cambodia under the Khmer Rouge, people are now allowed to fix bicycles, repair shoes and sell sundries at sidewalk stands.
When Congress demonetized silver in 1893, the town was largely ruined, and the current renaissance did not begin until 1937, when the first ski train arrived from New York.
Finally, Malic said, starting January 1, 2017, demonetized banknotes will no longer have monetary value.
The dollar remains a stable currency backed by a highly productive economy with low inflation and by the assurance that it will not be demonetized, recalled, or devalued.

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