Yes, Salt Spring Dollars are legal. We're not breaking any laws by issuing an alternative currency and you aren't breaking any laws by owning or using them.
Legally, Salt Spring Dollars are gift certificates. When you buy a Salt Spring bill (one dollar, two dollar, five, ten, twenty, fifty, or one hundred dollar bill) you're buying a gift certificate from the Salt Spring Island Monetary Foundation, which are accepted by most local merchants for their goods and services at par with the Canadian dollars. Businesses or other commercial account holders can redeem the Salt Spring Dollars for Canadian cash by depositing Salt Spring Dollars at one of the three financial institutions on the island. The Salt Spring Island Monetary Foundation keeps sufficient balances at these institutions to cover redemptions, plus additional silver, gold and other liquid investments.
Salt Spring Dollars reflect our pride and love of this island and its community. Using and spending Salt Spring Dollars demonstrates your support for our local economy, local history and local artists.
Salt Spring Dollars are beautiful currency with a community link, wide acceptance, and unique designs with strong anti-counterfeit features. Whether you're a tourist using our money for the first time or an islander using it on a daily basis for your financial transactions, using Salt Spring Dollars is fun and good for the community.
Click here, for more information on our coming changes in 2012.
Salt Spring Island, British Columbia, is the largest and most populated of the Southern Gulf Islands situated between the massive Vancouver Island and the southern west coast of Canada. We're a 2-3 hour ferry ride from Vancouver on the mainland or from Victoria to the west. The population focuses much of its attention on art, farming, natural health, fitness, and our community.
With a permanent population of around 10,000 and annual tourists topping 300,000, Salt Spring Island is a vibrant community indeed.