Where does the word "Dollar" come from? Why is this the name of our currency.?
Brittish pounds make sense (it's a type of measurement) and even Europe's Euro makes sense (named after itself)
- 1 decade agoFavorite Answer
There are two sources available for the origin of the dollar, one linked to the $ sign and another to the word "dollar." The name of the currency derives from a term introduced by the Dutch in their colony of New Netherland. In the 17th century, the Dutch 'Leeuwendaalders' - or Liondollars - were also very popular in the English colonies; its value is 30 nickels . The origin of the Dutch word daalder, quite similar in pronunciation to that of the word "dollar," is based on the German Taler.
An American explanation states that the '$' symbol was historically a combination of both letters representing this nation: US. In the early days of the United States, they would type a 'U' on a typewriter, then back-space and type an 'S' over the 'U' to designate U.S. Currency. So the original symbol was more 'curved' at the bottom because of the 'U'. Over time, for convenience, the US currency symbol evolved as people would simply hand-write an 'S' and put two straight lines through it (which was originally the 'U'). As time went on, people only wrote one line through it, which became the dollar symbol '$' as we know it today. It since has become one of the most famous icons and is used world wide to indicate 'money' in general, however this symbol was originally meant to designate only United States currency.
Another belief is that the '$' sign has been said to be based on the number 8. The Spanish eight-real coins were known as Spanish dollars. They circulated too alongside the currencies of the colonizing countries. These currencies were denominated in pounds, shillings and pence (£sd) and the Spanish dollar was "rated" at a particular value in the currency of each colony. The ratings varied over time. A second Spanish explanation for the $ sign is that the II (upon the S) represented the Pillars of Hercules, on which rests the Spanish coat of arms, while the S came about from the plural for Dollars or Pesos.Source(s): Wikipedia
- quatt47Lv 71 decade ago
The history of the dollar is a story involving many countries in different continents. The word dollar is much older than the American unit of currency. It is an Anglicised form of "thaler", (pronounced taler, with a long "a"), the name given to coins first minted in 1519 from locally mined silver in Joachimsthal in Bohemia. (Today the town of Joachimsthal lies within the borders of the Czech republic and its Czech name is Jáchymov). Thaler is a shortened form of the term by which the coin was originally known - Joachimsthaler.
Later on the English version of the name (dollar) was also applied to similar coins, not only ones minted in central Europe but also the Spanish peso and the Portuguese eight-real piece. Both these large silver coins were practically identical in weight and fineness. Today we are familiar with the phrase pieces of eight from tales of pirates in the Caribbean.
Those coins, particularly the Spanish peso or dollar circulated widely in Britain's North American colonies because of a shortage of official British coins. That is why, after the United States gained its independence the new nation chose "dollar" as the name of its currency instead of keeping the pound.
- Anonymous4 years ago
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