WHAT'S NONEY?   Noney is a different kind of currency, with each note being a hand-drawn, hand-printed and hand-signed piece of art. Each note can also be traded for things. Like all money, Noney is for people to circulate. The result is a combination of performance, public art and printmaking -- an experience unlike that of traditional currency.

In 2003, Noney entered worldwide circulation when Obadiah Eelcut distributed the majority of its 10,000-note supply through several release events in Providence, Rhode Island. As Noney's popularity grew, Obadiah began conducting direct trades with people outside of Rhode Island via mail. In subsequent years, Noney notes have traveled the globe, making their way into every state of the USA and dozens of countries.

Over the course of human history, almost everything has served as money -- from stones and shells to grains and molasses. Precious metals were an early trading standard because of their consistent weight. Paper currency was another step in trading. As tiny legal documents, paper notes guaranteed specific amounts of precious metal -- even though, physically, the notes themselves were not intended to have value. They merely represented something else that did.

Eventually, banks and governments started issuing more paper currency than their metal reserves could back. They printed more and more notes; though, in reality, nothing backed the whole supply. The system generally functioned as long as everyone redeemed their notes at different times, while paradoxically believing their notes could be redeemed anytime.

Currency today is more abstract than ever. The concept of a guaranteed standard is gone. Money, whether in your pocket or your bank account, only has value because everyone believes it does.

Noney returns a standard to currency notes. But instead of metal, tobacco or rum, Noney's standard is the aesthetic value of the note itself. It's an economic system backed by art -- art that also serves as the system's currency.

While Noney notes have the same basic dimension, look and feel of government-issued money, they don't resemble any other currency. Noney is a new design. Ten different faces show people of Rhode Island with their favorite bird and favorite vegetable. These people entered a contest to appear on Noney. They represent a variety of lives and professions. Among them are a painter, a community advocate, a librarian, a photographer, a waiter and musicians.

The illustrations on Noney are hand-drawn, then hand-screenprinted onto archival, acid-free sheets of polyethylene fiber, a material that's lighter and tougher than paper. After printing, each note is editioned by hand in red ink with a number indicating its print order. Each note is then signed in black ink. Noney's total print run is 10,000 notes: 1,000 of each face.

Each Noney note has the same denomination: zero. This doesn't mean each note has no value... just relative value. There's no fixed exchange rate or location of operation. Noney's worth as both art and currency is something to negotiate through each individual transaction, anywhere.

In addition to the supply of cut Noney notes there exists a very limited edition of 200 uncut sheets, also on polyethylene fiber. These sheets feature Noney's standard colors of violet and yellow ink on the front, but with a unique tone of red ink on the back. Each sheet is numbered, signed and dated on the front in pencil.

Partial funding for Noney's production was provided by the LEF Foundation. Studio assistance was provided by If'n Books + Marks.