Davis & Its Emerging Local Currencies
What do you think of locally targeted currencies like Davis Dollars and Aggie Cash?
More than just traditional cash has been flowing Davis cash registers lately. Many businesses have begun to embrace two locally targeted forms of currency: Aggie Cash and Davis Dollars.
The university-driven currency, Aggie Cash, is stored on student IDs that function like debit cards in town. The card is swiped for the purchase of goods and services at participating businesses, coming with 10 percent discounts on some items.
While Aggie Cash is mostly about convenience for students, Davis Dollars is a currency with a more pronounced mission. It aims to keep money in town and allow Davisites to "get to know" one another.
Davis Dollars went into circulation in May of 2010. The currency recently picked up some momentum when the Davis Food Co-op started accepting it. Several Sacramento-area news outlets covered the story, as did the Huffington Post.
A single Davis Dollar – coming in the form of a paper bill – holds the same value as an actual dollar when used at participating merchants. The dollars are redeemable for $0.95.