demonetize AmE
demonetise BrE

And in 1876, legislation was passed to demonetize the silver dollars.

It succeeded in persuading President Franklin D. Roosevelt to demonetize the dollar and abandon the gold standard in 1933.

He was not much interested in Washington, where he promoted silver issues in the Senate at a time when a movement was afoot to demonetize silver.

After the declaration of Proclamation № 1081 by President Ferdinand Marcos on September 23, 1972, the Central Bank was to demonetize the existing banknotes in 1974, pursuant to Presidential Decree 378.

The return of silver dollars to the West Indies after 1873 threatened the gold standard there that had been in operation since 1704, and so by the year 1876, the British West Indies territories began to pass legislation to demonetize the silver dollars.