Art Money

1. Art Money (Rich Dethlefsen) (Flemming Vincent) By Nick McCoy

2. What Is It? • The Bank of International Art Money is an internet bank created by artists Kraemmer and Vincent in Copenhagen Denmark in 1998. • BIAM is a bank where artists from around the globe issue their own original art money bills as common currency. • The dimensions of the bill are 12x18 cm and each bill must be an original work of art by the artist. • Each bill most include a serial number, year of production, www.art-money.org, artist readable name, and the artist original signature. (BIAM logo)

3. Purpose • To give artists worldwide economic freedom and worldwide exposure. • To combine a alternate global currency with local currencies world wide to take a step towards equal shopping conditions for the rich and poor. • To create an art object with a practical social application. (Lars Magnussen)

4. Currency Principle (Charlotte Petersen) • Made by artists world wide. • Similar to a national currency with a gold reserve, except art money is backed with an art reserve distributed among the participating producers. • Art money can be exchanged for art from any artist in the Bank of International Art Money.

5. Who can make it? • Must be an artist. • Fill out an application on their homepage and send 3 art moneys to their head office to apply. • There is no cost to Join BIAM. • There is censorship of artists based on artist experience. • Most artist who apply and follow the BIAM rules will be accepted as a Art Money producer in the Bank of International Art Money. • Artists are asked not to issue Art Money beyond the value of their art that they have in storage. (Heidi Bartelsen)

6. What is it good for? • Art Money can be exchanged for art and other products or services from BIAM producers for up to 50% of purchase price, or anywhere else found excepted. • Art Money cannot be exchanged for money. It is said to be an alternative to money. • Can be used for exhibitions, decorations, investments, a present or collector’s item, sense it is considered original art. • Art Money must be explained and understood by both parties for its value to be recognized. • One piece of Art money is equal to 20 Euro in the year of its production. Each year after that it increases by 5 Euro until the seventh year, where it settles at 50 Euro. (Kim Bassenbacher Beck)

7. Where to buy it (Hans Simtanda Caspersen) • Through the actual artist • BIAM headquarters • Art Money dealerships • Official Art Money Shop online which opens November 2nd

8. Guaranteed an increase in value of 25% the first year and 175% over a seven year period. Able to invest in art without expert art knowledge. Very reasonable price. No risk of loosing on the investment. Cannot exchange it for cash. Not to many people know about it. Is not accepted everywhere. Good or bad investment? Cons Pros (Preben Schroder)

9. Independent from government control, interest rates, state economy and fiscal policy. Currency note is a small piece of art and holds value in itself. Increases in actual value each year. Not linked to a certain country. Accepted as legal tender at some businesses. People recognize it as having value. All bills have the same shape. Currency or not? Is Not (Lotte Agger)

10. Interesting Info • BIAM has hundreds of artists from over 24 countries. • BIAM does not protect the concept of Art Money. Any one who wants to reproduce the idea or has an alternative to Art Money is welcome to do so. • Art Money is subject to sales tax. • When some one buys art money they are registered by the serial number on the note that they bought. This way, the artist has a list of his collectors for his or her use and enables BIAM to be secured against forgery. • http://www.art-money.org (Klaus Samsoe)