frequently asked questions
1. Is it really legal to print your own currency?
2. What makes your money valuable? Isn't it just paper?
3. So you just print pretty slips of paper and they're automatically money?
4. What does the symbol "CH$" mean?
5. How much are Chemainus Dollars worth?
6. How long has the Chemainus Dollars been available?
7. Why doesn't everyone do this?
8. How much Chemainus Dollars money has been printed?
9. Where do I get Chemainus Dollars?
10. What do I do when I have them?
11. How does this help the community?
12. Do Chemainus Dollars ever expire?
13. Can Chemainus Dollars be counterfeited?
14. How can my business arrange to accept Chemainus Dollars?
15. How can I buy Chemainus Dollar banknotes as a collector?
16. What is a 'Merchants CH$ Supporters' decal?
17. Is Chemainus the only community with a local currency?
18. What is your refund and return policy?
19. Is the silver medallion actual currency?
20. I have a question you didn't answer here on the website. How can I get an answer?
1. Is it really legal to print your own currency?
It certainly is. It's a common misconception that only national governments are allowed to print money, but this just isn't the case. Every government, community, organization, and individual has the right to produce their own money. In fact, when you write a check that's exactly what you're doing. The difficult part is getting people to accept that your money is valuable.
2. What makes your money valuable? Isn't it just paper?
The important value of any currency is that you can trade it for goods and services. Chemainus Dollars are accepted by all three Financial Institutions in Chemainus and almost every single business. In addition, the notes are an ingenious piece of art, which can be framed; herein making them valuable.
3. So you just print pretty slips of paper and they're automatically money?
Not quite. Chemainus Dollars are backed by Canadian Dollars. When we issue new Chemainus Dollar bank notes, we will make a deposit in our trust fund so you know your Chemainus Dollars can always be redeemed for something of equal value. Nations used to do the same thing which made their currencies strong and safe but they don't do that anymore.
4. What does the symbol "CH$" mean?
CH$ is a symbol for Chemainus Dollars, just like "CA$" means Canadian dollar and "US$" means United States dollar.
5. How much are Chemainus Dollars worth?
CH$1.00 = CA$1.00 which means the Chemainus Dollar is pegged to the Canadian dollar.
6. How long has the Chemainus Dollars been available?
The currency was launched on April 23rd, 2010 – which is also the 28th Anniversary of the Murals project.
7. Why doesn't everyone do this?
It's pretty complicated to set up this process. We first started this process February 2009 (one year ago). We had to establish the Chemainus Monetary Foundation, raise funds, design and print the bills, then convince skeptical financial institutions and businesses. We are very big fans of local currency and encourage other communities to create their own!
8. How much Chemainus Dollars money has been printed?
For the first press run, launched on April 23, 2010, $200,000.00 in Chemainus Dollars was printed. As more of the currency goes into circulation, or if a particular denomination runs low, the Chemainus Monetary Foundation will plan a second print run. Due to the popularity of the beautiful Chemainus Dollar with collectors, which takes the banknotes out of circulation, the likelihood of a second print run are high. Because of its popularity CH$100 notes are no longer in circulation. However, there are still some complete uncirculated collector sets in stock, which include CH$100 banknotes.
9. Where do I get Chemainus Dollars?
The Chemainus Dollar will be sold at the Coastal Community Credit Union Chemainus Branch, as well as other certified and licensed establishments. Coastal Community Credit Union is located at: 9781 Willow Street, Chemainus BC
10. What do I do when I have them?
Spend them! Collect them or make them a gift for someone special. They're money and you can use them to buy groceries, meals, books, gas, clothes, lodging, accounting, house wares, massage, building supplies, electronics, haircuts, wine, insurance, dry cleaning, jewelry, and basically anything else available in Chemainus.
If you have some left you can either exchange them for Canadian dollars before you leave Chemainus or you can keep them as a souvenir. Think of it like bringing home a few Euros or Yen or Pesos – you can always use them later. And if you take some Chemainus Dollars home you help the communities economy by strengthening our currency, just as you help any nation when you take home some of their currency.
11. How does this help the community?
Chemainus Dollars help in many ways: Community pride and direct economic impact. Having a local currency is prestigious and attracts world-wide attention to our community and its artists. Locals enjoy keeping their business local and this is one way to focus our attentions on our neighbors' businesses. Tourists also love participating in our economy in this way.
In addition, Chemainus Dollars have a direct impact. The CMF trust fund earns interest on the Canadian dollars. The interest helps to offset operating costs. This interest is also used to fund deserving local projects. But the greatest benefits are from sales of many valuable Collectors' items which contribute to the general fund and from which community development projects are financed.
12. Do Chemainus Dollars ever expire?
No.
13. Can Chemainus Dollars be counterfeited?
Without being too overconfident, Chemainus Dollars are among the most secure documents printed anywhere in the world. We have arranged hidden security features that even the Canadian and United States government don't include, and counterfeiters would have much more reason to try to fake those currencies than ours. Nonetheless we're always vigilant and take continuous active measures to protect the security and trust of our bills. As a merchant or customer it is your responsibility to handle Chemainus Dollars with the same diligence as you handle Canadian Dollars.
14. How can my business arrange to accept Chemainus Dollars?
Just start accepting them. If your business banks with any of the financial institutions in Chemainus, you can deposit Chemainus Dollars directly right into your Canadian Dollar accounts. If you'd like our "We Accept Chemainus Dollars" decal for your storefront, please Contact Us.
15. How can I buy Chemainus Dollar banknotes as a collector?
We will be selling uncirculated CH$ banknotes and collectors' sets of Chemainus Dollars through our online store when it is opened. You can also buy uncirculated CH$ currency in mint condition, with a small surcharge, from the Coastal Community Credit Union in Chemainus or obtain it at face value from almost any merchant in the Chemainus Valley.
16. What is a 'Merchants CH$ Supporters' decal?
The CH$ Supporters Decal for acceptance of the Chemainus Dollar is not only a window decal it is so much more – it signals pride in Chemainus and, in addition, advertises that the owner is a proud Chemainiac who supports the community. In addition it is the largest Chemainus advertising campaign launched since the Mural Project was begun 28 years ago by those who have dedicated their time and passion to make it happen. The Decal is a statement of pride, passion and dedication in a community which works together in harmony. Be part of the Chemainus Family and display the CH$ Supporters Decal with pride! The Merchants CH$ Supporters Decal is available for $5 from the Coastal Community Credit Union branch in Chemainus.
17. Is Chemainus the only community with a local currency?
No, in fact many communities throughout Canada, the United States, and the world have similar programs. There are actually over 5000 community currencies across the world. Salt Spring Dollars are closest to Chemainus and like our CH$ is unique to the extent that our currency is accepted by all the banks and nearly every business in the community.
18. What is your refund and return policy?
We refund 100%, no questions asked, upon receipt of the returned product Chemainus Dollar Banknote.
19. Is the silver medallion actual currency?
The silver medallion is not an actual currency coin, but is a highly valuable Troy Silver collectible medallion. Valued for both it's artistic design as well as the .99 ounce of silver (and gold embellishments for the enhanced medallion), this very limited edition collectible will only increase in value.
20. I have a question you didn't answer here on the website. How can I get an answer?
Please Contact Us.
**We would like to give special thanks to the “Salt Spring Island Monetary Foundation” for their inspiration and support**
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