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Artist Lars Kreammer and Flemming Vincent established the Bank Internationalen Kunstgeldes (Bank of International Art Money) [BIAM] in Copenhagen, Denmark in 1998.

BIAM acts as an internet bank, where artists from around the world issue "original art money bills" as a common currency. Art Money measures 12x18 cm with each being an original work of art. It has a purchasing power initially equal to 20 Euro when first introduced and increasing in value by five Euros a year for 7 years after which it holds its value at 50 Euro forever.

Art Money can be used to buy art or services from registered BIAM artists at up to 50% of the sales price. Art Money can be spent at registered BIAM shops and businesses up to a specific percent set by the individual business. Art Money can also be  used as payment for accommodation at any BIAM host and it can be used at 100% at the BIAM market. There are also some non-registered shops and businesses around the world which will also accept these notes as currency.

Each Art Money note is an original art object issued with the specific purpose of creating a global alternative currency.

Bank of International Art Money

E.F. Schumacher Society (Local Currency)