The dollar sign, also known as peso sign, is a
symbol consisting of a
capital "
S" crossed with one or two vertical strokes ($ or ), used to indicate the unit of various
currencies
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general def ...
around the world, including most currencies denominated "
peso
The peso is the monetary unit of several countries in the Americas, and the Philippines. Originating in the Spanish Empire, the word translates to "weight". In most countries the peso uses the same sign, "$", as many currencies named "dollar" ...
" and "
dollar
Dollar is the name of more than 20 currencies. They include the Australian dollar, Brunei dollar, Canadian dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, ...
". The explicitly double-barred sign is called cifrão.
The sign is also used in several compound currency symbols, such as the
Brazilian real
The Brazilian real ( pl. '; sign: R$; code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the cruzeiro real in 1994 ...
(R$) and the
Nicaraguan córdoba (C$).
The one- and two-stroke version are often considered mere stylistic (
typeface
A typeface (or font family) is the design of lettering that can include variations in size, weight (e.g. bold), slope (e.g. italic), width (e.g. condensed), and so on. Each of these variations of the typeface is a font.
There are thousands o ...
) variants, although in some places and epochs one of them may have been specifically assigned, by law or custom, to a specific currency. The
Unicode
Unicode, formally The Unicode Standard,The formal version reference is is an information technology standard for the consistent encoding, representation, and handling of text expressed in most of the world's writing systems. The standard, wh ...
computer encoding standard defines a single code for both.
In most
English
English usually refers to:
* English language
* English people
English may also refer to:
Peoples, culture, and language
* ''English'', an adjective for something of, from, or related to England
** English national ide ...
-speaking countries that use that symbol, it is placed to the left of the amount specified, e.g. "$1", read as "one dollar".
History
Use for the Spanish American peso in the late 1700s
The symbol appears in business correspondence in the 1770s from Spanish America, the early independent U.S., British America and Britain, referring to the Spanish American peso, also known as "
Spanish dollar
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...
" or "piece of eight" in British America. Those coins provided the model for the currency that the United States adopted in 1792, and for the larger coins of the new Spanish American republics, such as the
Mexican peso,
Argentine peso
The peso (established as the ''peso convertible'') is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 ''centavos''. Its ISO 4 ...
,
Peruvian real, and
Bolivian sol
The sol was the currency of Bolivia between 1827 and 1864. There were no subdivisions of the sol but 16 soles were equal to 1 scudo. The sol replaced the Spanish colonial real
The silver real ( es, real de plata) was the currency of the Span ...
coins.
With the
Coinage Act of 1792
The Coinage Act of 1792 (also known as the Mint Act; officially: ''An act establishing a mint, and regulating the Coins of the United States''), passed by the United States Congress on April 2, 1792, created the United States dollar as the countr ...
, the United States Congress created the U.S. dollar, defining it to have "the value of a Spanish milled dollar as the same is now current" but a variety of foreign coins were deemed to be
legal tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in ...
until the
Coinage Act of 1857
The Coinage Act of 1857 (Act of Feb. 21, 1857, Chap. 56, 34th Cong., Sess. III, 11 Stat. 163) was an act of the United States Congress which ended the status of foreign coins as legal tender, repealing all acts "authorizing the currency of foreig ...
ended this status.
The earliest U.S. dollar coins did not have any dollar symbol. The first occurrence in print is claimed to be from 1790s, by a Philadelphia printer
Archibald Binny, creator of the
Monticello typeface.
[Hephzibah Anderson (2019):]
The curious origins of the dollar symbol
. Online article at the BBC #REDIRECT BBC #REDIRECT BBC
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...
website, dated 29 May 2019. Accessed on 2021-08-12. The $1
issued by the United States in 1869 included a large symbol consisting of a "U" with the right bar overlapping an "S" like a single-bar dollar sign, as well as a very small double-stroke dollar sign in the legal warning against forgery.
It is still uncertain, however, how the dollar sign came to represent the Spanish American peso. There are currently several competing hypotheses:
* One theory holds that the sign grew out of the Spanish and Spanish American
" for pesos. A study of late 18th- and early 19th-century
s shows that the ''s'' gradually came to be written over the ''p'', developing into a close equivalent to the "$" mark.
However, there are documents showing the common use of the two-stroke version in Portugal already by 1775.