The most common and most likely answer to this crossword clue is the 11 letter word DEMONETISED
I've seen this crossword clue in The Times
D
E
M
O
N
E
T
I
S
E
D
Buddy explains!
The straight part
We know that "taken out of circulation" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case taken out of circulation = demonetised.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DEMONETISED mean?
DEMONETISED verb- To remove the status of legal tender from (a coin etc.) and remove it from circulation.