PORT TOWNSEND — Time really can be money in a system of trade and barter called “local currency” that uses a unit of currency called a “time dollar.”
An international movement that has found success in Europe and Australia, “local currency” is starting to catch on in Jefferson County.
“The idea is there are a lot of unmet needs and unused resources,” said Michael Dobkevich of Port Townsend, a volunteer with Local 20/20, which formed in April.
“Normally when you barter, you can trade with one person, but here you can trade with anybody in the system.”
Local currency is a medium of exchange operating within a local trading system to facilitate the exchange of goods and services on a community level.
About 20 people are members in Jefferson County.
Members pay a $45 annual fee to have access to all the other members who either want goods and services or are offering them.
Instead of an outright trade, the unit of currency used is called a time dollar.
A time dollar is worth about $10.
The member offering something decides how many time dollars the item or service is worth.
“If you receive a service then you credit them with agreed upon time dollars,” said Dobkevich.
The person providing the service can then spend the time dollars with any of the members.
Dobkevich said the system is a good way to build community because people meet fellow community members more when they trade with them.
“On one level this is a movement to get back to knowing our neighbors,” Dobkevich said.
“It’s also a safety net in case we get into hard economic times.”
In that case, people could still go on using local currency in lieu of cash money.
Diane Clemens of Port Townsend is a member and has been using local currency for about three months.
“I borrowed someone’s chipper shredder and gave her five time dollars,” Clemens said.
“I just like the idea of buying locally and helping each other locally.
“If everybody used it and it starting getting going, it can really work.
“I have total faith that it will work.”
Orientation on Sunday
Anyone wanting to become a member must attend an orientation session.
The next one is at 4 p.m. Sunday at Dundee Hill Center, located at 32nd and Hancock streets in Port Townsend.
Following the orientation will be a pot luck at 5:30 p.m. where other members attend and welcome the new members.