specie

noun (1)
spe·​cie | \ˈspē-shē, -sē\

Definition of specie 

(Entry 1 of 2)

: money in coin

in specie

: in the same or like form or kind ready to return insult in specie also : in coin

specie

noun (2)

Definition of specie (Entry 2 of 2)

nonstandard

First Known Use of specie

Noun (1)

1617, in the meaning defined above

Noun (2)

1647, in the meaning defined above

History and Etymology for specie

Noun (1)

from in specie, from Latin, in kind

Noun (2)

back-formation from species (taken as a plural)

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Time Traveler for specie

The first known use of specie was in 1617

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More Definitions for specie

in specie

noun

Financial Definition of in specie

What It Is

In specie is a Latin term describing the provision of an asset in its physical form rather than in the cash value of the asset.

How It Works

Let's say Company XYZ wants to purchase Company ABC for $10 million. Company XYZ doesn't have $10 million of cash laying around, but it needs to give Company ABC something worth $10 million. It decides to give Company ABC 1 million shares of Company XYZ stock, which are worth $10 million. Company XYZ is paying Company ABC in specie.

Why It Matters

In specie payments usually happen in the business world if a company doesn't have cash available.

Source: Investing Answers

specie

noun
spe·​cie | \ˈspē-shē, -sē \

Legal Definition of specie 

: money in coin

in specie

: in the identical form and without alteration or substitution an agreement to be carried out in specie

History and Etymology for specie

from in specie, from Latin, in kind

More from Merriam-Webster on specie

See words that rhyme with specie

Britannica English: Translation of specie for Arabic Speakers

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