The PLENTY (Piedmont Local Economy Tender) is a local currency used and accepted in Pittsboro, North Carolina by a growing number of businesses for goods and services. The currency is managed by the PLENTY Currency Cooperative Corporation and is backed by Capital Bank Financial with United States dollars, 10 Plentys may be purchased for $10.00 US. PLENTYs can be traded for goods or services or exchanged for United States Dollars at businesses that accept them.
PLENTY are offered in 50, 20, 10, 5 and 1 denomination bills and feature the phrase "In Each Other We Trust". The logo and currency were designed by artist Emma Skurnick and feature illustrations of native plants and animals. Bills are printed locally on bamboo based paper and include anti-counterfeiting features.
Like other local currencies, the PLENTY is legal as they don't too closely resemble United States currency. Transactions conducted with Plenties are taxed just as transactions in United States Dollars.
History
Local currency was commonly used during the Great Depression to keep commerce flowing locally when United States Dollars were scarce. The PLENTY was created by Annissa Clarke in Carrboro in 2002. The goal of the relaunch of the currency in 2009 was to encourage local spending. The relaunch was inspired in part by the book, Small is Possible: Life in a Local Economy, which was written by Lyle Estill. In a chapter entitled "Financing Ourselves," Estill introduces Capital Bank as a locally owned institution, and recounts his version of the PLENTY. The book attracted the attention of BJ Lawson who was running for congress, and interested in monetary theory, and who now serves as the chairman of the PLENTY board.