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PLENTY Dollars: Developing Currency in a Sustainable Community

May 11, 2009
The PLENTY FiftyThe PLENTY is a local currency. People have been using it to buy goods and services in our neck of the woods since 2002. It’s completely legal; it’s taxed the same as dollars; it’s NC Plenty Fifty 
The PLENTY Fiftysecure; and it is good for our local economy.One of its advantages is that it can only be spent here at home. As far as we can tell, they do not yet accept the Plenty in Malaysia. Which means it circulates amongst ourselves.

One of the measures of the health of an economy is its monetary “circulation.” That is, how many times a dollar changes hands before it leaves town forever. Here’s an example:

Let’s say you spend a dollar at McIntyre’s. That’s the independent local bookstore atFearrington Village. McIntyre’s will use part of that dollar to pay their folks. They live here. Part of it will go to their bookeeper. Part might go to an advertisement in our local media. And many of the dollars McIntyre’s spends in our community will stay here for awhile. People will go buy groceries at Chatham Marketplace. Which will then buy produce from the local farmer, who will then go buy a book at McIntyre’s.

The longer that dollar stays in our community, the more enriched we become.

You can double click on your mouse and buy the same book at Amazon if you would like. But that way your dollar leaves our local economy immediately and doesn’t stick around to participate in our economic life together.

The PLENTY is backed by trust. It’s actually the exact same thing backing Uncle Sam’s federal reserve notes. Better known as “U.S. Dollars.”

The only reason to accept a PLENTY is because you know what it is worth, and you are confident you can claim that value from it when you need it.  Capital Bank in Pittsborois offering exchange services at the rate of $.90 for 1P, giving you essentially a 10% discount on your purchases from local businesses.  Which in turn means your more likely to shop there which of course benefits them as well!

Simple. Beautiful. Legal. Easy.

By running PLENTYs through your wallet, spending them with those merchants that accept them, you are doing your bit to keep our local economy strong.

Emma Skurnick, illustrator, has given the PLENTY its unique look with images that honor some of the landmarks, wildlife and cultural attributes that are distinctive to the region. From the Chatham Rabbit to Sustainable Energy, Emma has captured the look and feel of the PLENTYs stomping grounds.

The new denominations make transactions at participating stores easy, they correspond directly with US dollars, $1=1P, $5=5P, etc.

read more about PLENTY’s

NC Plenty Front 

The PLENTY Front

NC Plenty One 

The PLENTY One

NC Plenty Five 

The PLENTY Five

NC Plenty Ten 

The PLENTY Ten

NC Plenty Twenty 

The PLENTY Twenty

NC Plenty Fifty 

The PLENTY Fifty

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