Capable of being changed in form, substance, or condition; susceptible of change; transmutable; transformable: as, iron is convertible into steel, and wood into charcoal.Capable of being turned into an equivalent by exchange; transformable by mutual transfer: as, bonds or scrip convertible into other securities; convertible property.Specifically, in banking and com., capable of being converted or changed into gold of similar amount at any time: applied to bank-notes and other forms of paper money: as, a convertible paper currency.Capable of being applied or turned, as to a new use.So constituted as to be interchangeable; equivalent in certain or all respects.In logic, true, or asserted to be true, after conversion or the interchange of subject and predicate. See conversion, 2.