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Q.

How did the dollar get its sign ?

Tags: money, education, astrology
Asked by jameel ahmed, 14 Feb '10 02:15 pm
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Answers (4)

1.

Dear Jameelbhai sahab, The symbol $ written before the numerical amount is used for the US dollar and many other countries. The sign's actual origins are not certain, though it is possible it comes from the Pillars of Hercules, which flank the Spanish coat of arms on the Spanish dollars that were minted in the New World Mints. The Pillars of Hercules are in the form of two vertical bars and a swinging cloth band in the shape of an "S". Another explanation is that the symbol for peso was the result of the abbreviation "ps" - the p and s came to be written over each other, appearing like "$". Another possibility is that the dollar sign is capital letters U & S typed one on top of the other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged, does not consider the fact that the symbol was in use before the formation of the US. Regards Cyrus
Answered by cyrus irani, 21 Feb '10 07:54 pm

 
  
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2.

Several people have suggested that the US symbol came from the use of a S stamped over the top of a U as a symbol for the United States. The theory has even been cited in newspapers and encylopedias. Not only is there no documentation to support this origin, but as Cajori points out, it flies in the face of the earliest recorded usage of the dollar symbol by a high US official. In an exchange between financier and statesman Robert Morris and his secretary in 1792 show a use of the symbol with only a signel vertical stroke. In the earliest period of usage of the symbol it would seem unusual that a man highly involved in the US financial operations did not know of its true origin. It is only appropriate that an Irish immigrant to the United States be the one credited with originating the dollar sign. Oliver Pollock sailed the high seas at the age of twenty-three, and settled in Carlisle, Pennsylvania. This young entrepreneur rapidly established himself as a wealthy and influential West I ...more
Answered by Deepak Joshi, 14 Feb '10 02:27 pm

 
  
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3.

The sign is attested in business correspondence between the British, Americans, Canadians, and Mexicans in the 1770s, as referring to the Spanish-Mexican peso known as "Spanish dollar" or "pieces of eight" in British North America where it was adopted as U.S. currency in 1785, together with the term "dollar" and the $ sign.

The origin of the "$" sign has been variously accounted for. Perhaps the most widely accepted explanation is that it is the result of the evolution of the Spanish and Mexican scribal abbreviation "ps" for pesos. This theory, derived from a study of late eighteenth- and early nineteenth-century manuscripts, explains that the s gradually came to be written over the p developing a close equivalent to the "$" mark."
Answered by anil garg, 27 Feb '10 09:00 pm

 
  
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4.

It's said to be derived from the initials of the United States - US. If U is superimposed on S and the lower part of it removed, you get an S with two lines on it.
Answered by nargis bhambi, 14 Feb '10 02:28 pm

 
  
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