It was launched on September 29, 2006[1] by BerkShares Inc., with research and development assistance from the Schumacher Center for a New Economics.

[4] The bills were designed by John Isaacs[5] and were printed by Excelsior Printing on special paper with incorporated security features from Crane & Co. BerkShares are pegged with an exchange rate to the US dollar, but the Schumacher Center has discussed the possibility of pegging its value to a basket of local goods in order to insulate the local economy against volatility in the US economy.

BerkShares can then be used by accepting businesses to purchase goods and services from other participating businesses, make change, pay salaries, or support local non-profits, increasing the local economic multiplier effect and keeping value recirculating in the region.

The BerkShares program seeks to foster collaboration among producers, retail businesses, non-profit organizations, service providers and consumers.

BerkShares were featured on the History Channel program Ten things you didn't know [citation needed], in addition to a 2016 episode of the podcast Stuff You Should Know entitled Can you live without a bank account?