🔗 BerkShares

🔗 United States 🔗 Numismatics 🔗 Numismatics/American currency 🔗 United States/Massachusetts

BerkShares is a local currency that circulates in The Berkshires region of Massachusetts. It was launched on September 29, 2006 by BerkShares Inc., with research and development assistance from the Schumacher Center for a New Economics. The BerkShares website lists around 400 businesses in Berkshire County that accept the currency. Since launch, over 10 million BerkShares have been issued from participating branch offices of local banks (as of February 2020, 9 branches of 3 different banks). The bills were designed by John Isaacs and were printed by Excelsior Printing on special paper with incorporated security features from Crane & Co.. BerkShares are pegged with an exchange rate to the US dollar, but the Schumacher Center has discussed the possibility of pegging its value to a basket of local goods in order to insulate the local economy against volatility in the US economy.