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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.
Illustration 22-1: Articles and advertisements were published suggesting that there was a current value for once valid World War I era bonds that had been demonetized by statute and by international treaty.
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.
We're well over a decade into this utopia of demonetized sharing and almost everyone who does the kind of work that has been collectivized online is getting poorer.
But by 4 February 1797, when the mandates were officially demonetized, the revolutionary experiment with paper money was at an end.
The Rs 5 banknote and the old design Rs 500 banknote have already been demonetized, said State Bank of Pakistan statement here on Monday.

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