Yap is sometimes known as The Land of Stone Money, due to it's traditional currency. Quarried from the island of Palau some 400 miles away, the money was transported to Yap in dugout canoes. Some can weigh several tones. The value of the Stone Money is determined not by it's size, but by the story behind how it was quarried, and how it got to Yap; the more difficult the journey, the more the money is worth. When a piece of Stone Money changes hands, it it typically not moved from it's location due to it's immense size and weight. Rather it's new owner is simply noted and it remains in place.
Although today the U.S. Dollar is used for day-to-day transactions, Stone Money is still used for traditional and ceremonial transactions, such as dowries and as penalties for minor crimes.