BerkShares began circulating in 2006 as a local currency for Massachusetts’ Berkshire region.
The currency was introduced by the nonprofit BerkShares, Inc., with support from local financial institutions and the Schumacher Center for a New Economics. Residents could exchange U.S. dollars for BerkShares at participating banks and spend them with participating local businesses.
The project was designed to encourage money to circulate within the Berkshire economy rather than immediately leaving the region. Its notes featured prominent Berkshire figures including Robyn Van En and W. E. B. Du Bois, linking the currency to local history and culture.
BerkShares is often confused with Ithaca Hours, an earlier New York local currency, or the Brixton Pound in London. Like other community currencies, its usefulness depends on participating merchants and public willingness to accept it.