Source : Webster's Revised Unabridged Dictionary (1913)

Irredeemable \Ir`re*deem"a*ble\, a.
   Not redeemable; that can not be redeemed; not payable in gold
   or silver, as a bond; -- used especially of such government
   notes, issued as currency, as are not convertible into coin
   at the pleasure of the holder. -- {Ir`re*deem"a*ble*ness},
   adv.

Source : WordNet®

irredeemable
     adj 1: insusceptible of reform; "vicious irreclaimable boys";
            "irredeemable sinners" [syn: {irreclaimable}, {unredeemable},
             {unreformable}]
     2: (of paper money) not convertible into coin at the pleasure
        of the holder