legal tender

currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins.

Origin of legal tender

First recorded in 1730–40

If so, why do the rest of us have to put up with legal-tender paper money?

‘A Ghastly Waste of Time?’ Considering the Constitution |Seth Lipsky |January 15, 2013 |DAILY BEAST
It is only for notes issued in excess of these amounts that legal-tender money must be deposited with the trustees at Montreal.

Readings in Money and Banking |Chester Arthur Phillips
In short, the value of inconvertible paper can be but little affected by legal-tender powers.

Readings in Money and Banking |Chester Arthur Phillips
It is not the legal-tender stamp that gives a coin its value in international payments.

Readings in Money and Banking |Chester Arthur Phillips

It may now be permissible to examine into the extent to which a demand is created by legal-tender laws.

Readings in Money and Banking |Chester Arthur Phillips
It is not legal-tender laws, nor is it intrinsic value, which makes even gold go as money.

The Brothers' War |John Calvin Reed

legal tender

currency in specified denominations that a creditor must by law accept in redemption of a debt

legal tender

Any form of money that a government decrees must be accepted in payment of debts.