A local currency used in the Berkshires, a region in western Massachusetts. Only local businesses accept BerkShares, which are part of an initiative to encourage consumers to shop locally. Consumers can exchange U.S. dollars for BerkShares at community banks, and hundreds of local merchants accept the local currency. BerkShares are paper bills that come in denominations of 1, 5, 10, 20 and 50.

One way that BerkShares encourage consumers to shop locally is by providing an effective discount of 5% on purchases. A consumer only needs to exchange 95 cents at the bank to receive $1 in BerkShares. Stores accept BerkShares at full face value, so a customer who wanted to by a $10 item would effectively pay $9.50 if they paid in BerkShares. A nonprofit corporation, BerkShares Inc., issues the currency.

Investment dictionary. . 2012.

Look at other dictionaries:

  • BerkShares — Saltar a navegación, búsqueda BerkShares Código: Ninguno es una moneda local Ámbito: Condado de Berkshire Massachusetts,  E …   Wikipedia Español

  • BerkShares — est une monnaie locale circulant aux Monts Berkshire au Massachusetts, lancée en 2006[1]. Notes et références (en) Cet article est partiellement ou en totalité issu de l’article de Wikipédia en anglais intitulé « BerkShares » …   Wikipédia en Français

  • BerkShares — Infobox Currency image 1 =Berkshares.jpg image title 1 = Some BerkShares notes iso code = None, it is a local currency using countries = Berkshire County, Massachusetts, USA symbol = used banknotes = 1, 5, 10, 20, 50 BerkShares issuing authority …   Wikipedia

  • Private currency — Not to be confused with alternative currency or complementary currency . A private currency is a currency issued by a private organization. It is often contrasted with fiat currency issued by governments or central banks. In many countries,… …   Wikipedia

  • E. F. Schumacher Society — This article is about The E. F. Schumacher Society, a non profit education organization. For articles on persons named Schumacher, see Schumacher. Founded in 1980, the E. F. Schumacher Society was named for German born economist E. F. Schumacher …   Wikipedia

  • Great Barrington, Massachusetts — Coordinates: 42°11′45″N 73°21′45″W / 42.19583°N 73.3625°W / 42.19583; 73.3625 …   Wikipedia

  • The Berkshires — Please note that this article on the Berkshires is about a geologic and cultural region in the United States; for other uses, see Berkshire (disambiguation) Geobox|Range name=Berkshires other name=Berkshire Hills, Berkshire Mountains image… …   Wikipedia

  • List of community currencies in the United States — Community currencies that have been used in the United States:Models*Time DollarCurrencies* Amesbury Hours Amesbury, Massachusetts * Anacostia Hours [] Mount Rainier, Maryland * Area Bucks Palo Alto, California *… …   Wikipedia

  • Calgary Dollars — are a local currency in Calgary, Alberta, Canada. While functioning as a limited form of currency within Calgary, they are not a legal tender nor are they backed by a national government. Instead, the currency serves (according to their… …   Wikipedia

  • Chiemgauer — is the name of a regional local currency started in 2003 in Prien am Chiemsee, Bavaria, Germany. It is named after the Chiemgau, a region around the Chiemsee. The Chiemgauer program is intended to promote local commerce.[1] The Chiemgauer… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.