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Dollar is the name of more than 20
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 ...
. They include the
Australian dollar The Australian dollar ( sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Isl ...
, Brunei dollar, Canadian dollar,
Hong Kong dollar The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong ...
, Jamaican dollar, Liberian dollar,
Namibian dollar The Namibian dollar (symbol: N $; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 ...
,
New Taiwan dollar The New Taiwan dollar ( code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of Taiwan. The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dol ...
,
New Zealand dollar The New Zealand dollar ( mi, tāra o Aotearoa; sign: $, NZ$; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within Ne ...
,
Singapore dollar The Singapore dollar (sign: S$; code: SGD) is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencie ...
,
United States dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
,
Trinidad and Tobago Dollar The Trinidad and Tobago dollar ( currency code TTD) is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided i ...
and several others. The symbol for most of those currencies is the
dollar sign 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 around the world, including most currencies denominated "p ...
$ in the same way as many countries using
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" ...
currencies.


Economies that use a "dollar"


Other territories that use a "dollar"

* :
Eastern Caribbean dollar The Eastern Caribbean dollar ( symbol: EC$; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed si ...
* (
Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...
)
:
US dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
* : US dollar (alongside the
pound sterling Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and ...
) * : US dollar * : Eastern Caribbean dollar * (
Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...
)
: US dollar * (
France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of overseas regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan area ...
)
: Canadian dollar (alongside the
euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
) * (
Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...
)
: US dollar * : US dollar


Countries unofficially accepting "dollars"

*
Afghanistan Afghanistan, officially the Islamic Emirate of Afghanistan,; prs, امارت اسلامی افغانستان is a landlocked country located at the crossroads of Central Asia and South Asia. Referred to as the Heart of Asia, it is bordere ...
:
US dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
*
Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...
: US dollar * Bolivia: US dollar *
Cambodia Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailan ...
: US dollar *
Cuba Cuba ( , ), officially the Republic of Cuba ( es, República de Cuba, links=no ), is an island country comprising the island of Cuba, as well as Isla de la Juventud and several minor archipelagos. Cuba is located where the northern Caribbea ...
: US dollar * Guatemala: US dollar *
Lebanon Lebanon ( , ar, لُبْنَان, translit=lubnān, ), officially the Republic of Lebanon () or the Lebanese Republic, is a country in Western Asia. It is located between Syria to Lebanon–Syria border, the north and east and Israel to Blue ...
: US dollar *
Macau Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a p ...
:
Hong Kong dollar The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong ...
*
Maldives Maldives (, ; dv, ދިވެހިރާއްޖެ, translit=Dhivehi Raajje, ), officially the Republic of Maldives ( dv, ދިވެހިރާއްޖޭގެ ޖުމްހޫރިއްޔާ, translit=Dhivehi Raajjeyge Jumhooriyyaa, label=none, ), is an archipelag ...
: US dollar *
Myanmar Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John Wells explai ...
: US dollar *
North Korea North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korean Peninsula and shares borders with China and Russia to the north, at the Yalu (Amnok) and T ...
: US dollar *
Panama Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Co ...
: US dollar *
Paraguay Paraguay (; ), officially the Republic of Paraguay ( es, República del Paraguay, links=no; gn, Tavakuairetã Paraguái, links=si), is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to th ...
: US dollar *
Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = National seal , national_motto = "Firm and Happy f ...
: US dollar *
Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...
: US dollar *
Uruguay Uruguay (; ), officially the Oriental Republic of Uruguay ( es, República Oriental del Uruguay), is a country in South America. It shares borders with Argentina to its west and southwest and Brazil to its north and northeast; while bordering ...
: US dollar *
Venezuela Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...
: US dollar


Countries and regions that have previously used a "dollar" currency

*
Confederate States of America The Confederate States of America (CSA), commonly referred to as the Confederate States or the Confederacy was an unrecognized breakaway republic in the Southern United States that existed from February 8, 1861, to May 9, 1865. The Confeder ...
: The
Confederate States dollar The Confederate States dollar was first issued just before the outbreak of the American Civil War by the newly formed Confederacy. It was not backed by hard assets, but simply by a promise to pay the bearer after the war, on the prospect of Sou ...
issued from March 1861 to 1865 *
Ethiopia Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the ...
: The name "Ethiopian dollar" was used in the English text on the birr banknotes before the Derg takeover in 1974. *
Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
: the
Malaysian ringgit The Malaysian ringgit (; plural: ringgit; symbol: RM; currency code: MYR; Malay name: ''Ringgit Malaysia''; formerly the Malaysian dollar) is the currency of Malaysia. It is divided into 100 ''sen'' (formerly ''cents''). The ringgit is issue ...
used to be called the "Malaysian Dollar". The surrounding territories (that is, Malaya,
British North Borneo (I persevere and I achieve) , national_anthem = , capital = Kudat (1881–1884);Sandakan (1884–1945);Jesselton (1946) , common_languages = English, Kadazan-Dusun, Bajau, Murut, Sabah Malay, Chinese etc. , go ...
,
Sarawak Sarawak (; ) is a state of Malaysia. The largest among the 13 states, with an area almost equal to that of Peninsular Malaysia, Sarawak is located in northwest Borneo Island, and is bordered by the Malaysian state of Sabah to the northeast, ...
,
Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by t ...
, and
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...
) used several varieties of dollars (for example, Straits dollar,
Malayan dollar The Malayan dollar ( Malay: ''ringgit'', Jawi: رڠڬيت) was the currency of the British colonies and protectorates in Malaya and Brunei until 1953. It was introduced in 1939, replacing the Straits dollar at par, with 1 dollar = two shillings ...
,
Sarawak dollar The dollar was the currency of the Raj of Sarawak from 1858 to 1953. It was subdivided into 100 ''cents''. The dollar remained at par with the Straits dollar and its successor the Malayan dollar, the currency of Malaya and Singapore, from its ...
, British North Borneo dollar;
Malaya and British Borneo dollar The Malaya and British Borneo dollar ( ms, ringgit; ms, رڠڬيت, label=Jawi alphabet, Jawi, script=arab, italic=unset) was the currency of Federation of Malaya, Malaya, Singapore, Crown Colony of Sarawak, Sarawak, Crown Colony of North Bor ...
) before Malaya,
British North Borneo (I persevere and I achieve) , national_anthem = , capital = Kudat (1881–1884);Sandakan (1884–1945);Jesselton (1946) , common_languages = English, Kadazan-Dusun, Bajau, Murut, Sabah Malay, Chinese etc. , go ...
,
Sarawak Sarawak (; ) is a state of Malaysia. The largest among the 13 states, with an area almost equal to that of Peninsular Malaysia, Sarawak is located in northwest Borneo Island, and is bordered by the Malaysian state of Sabah to the northeast, ...
, Singapore and Brunei gained their independence from the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...
. See also for complete list of currencies. *
Sierra Leone Sierra Leone,)]. officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of , Sierr ...
: The
Sierra Leonean dollar The dollar was a currency issued in Sierra Leone between 1791 and 1805. It was subdivided into 100 Cent (currency), cents and was issued by the Sierra Leone Company. The dollar was pegged to sterling at a rate of 1 dollar = 4 shillings 2 pence. ...
was used from 1791 to 1805. It was subdivided into 100 cents and was issued by the Sierra Leone Company. The dollar was pegged to sterling at a rate of 1 dollar = 4 shillings 2 pence. *
Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , i ...
: the
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 ...
(from 1497 to 1868) is closely related to the dollars (Spanish dollar was used in USA until 1857) and
euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
s used today. * Sri Lanka; the Ceylonese rixdollar was a currency used in British Ceylon in the early 19th Century. * Rhodesia: the
Rhodesian dollar The Rhodesian dollar (''R$ or Rh$'', ) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents. History The dollar was introduced on 17 February 1970, less than a month before the declaration of a republic on 2 Mar ...
replaced the Rhodesian pound in 1970 and it was used until
Zimbabwe Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and ...
came into being in 1980. * Republic of Texas: the
Texas dollar The Texas dollar was the currency of the Republic of Texas. Several forms of currency were issued, but an ongoing economic depression made it difficult for the government to provide effective backing. The republic accepted the standard gold and s ...
was issued between January 1839 and September 1840. *
Zimbabwe Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and ...
: uses the Zimbabwe dollar,and also accepts the
South African rand The South African rand, or simply the rand, ( sign: R; code: ZAR) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatin ...
, the
US dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
, the
Euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
, the
Pound sterling Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and ...
, the Botswana pula, the
Chinese yuan The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...
, the
Indian rupee The Indian rupee ( symbol: ₹; code: INR) is the official currency in the republic of India. The rupee is subdivided into 100 ''paise'' (singular: ''paisa''), though as of 2022, coins of denomination of 1 rupee are the lowest value in use w ...
and the Japanese yen.


History


Etymology

On 15 January 1520, the
Kingdom of Bohemia The Kingdom of Bohemia ( cs, České království),; la, link=no, Regnum Bohemiae sometimes in English literature referred to as the Czech Kingdom, was a medieval and early modern monarchy in Central Europe, the predecessor of the modern Czec ...
began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Bohemian lion. The coins would be named ''joachimsthaler'' after the town, becoming shortened in common usage to '' thaler'' or ''taler''. The town itself derived its name from Saint Joachim, coupled with the German word ''Thal'' (''Tal'' in modern spelling) means 'valley' (
cf. The abbreviation ''cf.'' (short for the la, confer/conferatur, both meaning "compare") is used in writing to refer the reader to other material to make a comparison with the topic being discussed. Style guides recommend that ''cf.'' be used onl ...
the English term ''dale''). This name found its way into other languages, for example: * German — '' Thaler'' (or ''Taler'') *
Czech Czech may refer to: * Anything from or related to the Czech Republic, a country in Europe ** Czech language ** Czechs, the people of the area ** Czech culture ** Czech cuisine * One of three mythical brothers, Lech, Czech, and Rus' Places * Czech, ...
, Slovak and Slovenian — ''
tolar Tolar (german: Thaler, links=no) or Jáchymovský tolar is the Czech name for the silver coin minted in Kingdom of Bohemia from 1520 until 1672 in Jáchymov (German: ''Joachimsthal''). On obverse of the coin is depicted Saint Joachim with coat ...
'' * Slovak — ''toliar'' * Low German — ''daler'' *
Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () Dutch may also refer to: Places * Dutch, West Virginia, a community in the United States * Pennsylvania Dutch Country People E ...
— '' rijksdaalder'' (or ''daler''), *
Danish Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish a ...
and
Norwegian Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe * Norwegians, both a nation and an ethnic group native to Norway * Demographics of Norway *The Norwegian language, including ...
— '' rigsdaler'' *
Swedish Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by ...
— '' riksdaler'' *
Spanish Spanish might refer to: * Items from or related to Spain: **Spaniards are a nation and ethnic group indigenous to Spain **Spanish language, spoken in Spain and many Latin American countries **Spanish cuisine Other places * Spanish, Ontario, Can ...
— ''
dólar Dólar is a municipality in the province of Granada, Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' (Latin)(English: "Further Beyon ...
'' (or ''real de a ocho'' or ''peso duro'') * Hungarian — ''tallér'' *
Ethiopian Ethiopians are the native inhabitants of Ethiopia, as well as the global diaspora of Ethiopia. Ethiopians constitute several component ethnic groups, many of which are closely related to ethnic groups in neighboring Eritrea and other parts of ...
— ''talari'' (ታላሪ) *
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 ...
— ''dollar'' In contrast to other languages which adopted the second part of word ''joachimsthaler'', the first part found its way into Russian language and became , yefimok (ефимок).


Europe and colonial North America

The Joachimsthaler of the 16th century was succeeded by the longer-lived
Reichsthaler The ''Reichsthaler'' (; modern spelling Reichstaler), or more specifically the ''Reichsthaler specie'', was a standard thaler silver coin introduced by the Holy Roman Empire in 1566 for use in all German states, minted in various versions for the ...
of the
Holy Roman Empire The Holy Roman Empire was a political entity in Western, Central, and Southern Europe that developed during the Early Middle Ages and continued until its dissolution in 1806 during the Napoleonic Wars. From the accession of Otto I in 962 ...
, used from the 16th to 19th centuries. The Netherlands also introduced its own dollars in the 16th century: the Burgundian Cross Thaler (''Bourgondrische Kruisdaalder''), the German-inspired '' Rijksdaalder'', and the Dutch liondollar (''leeuwendaalder''). The latter coin was used for Dutch trade in the Middle East, in the Dutch East Indies and West Indies, and in the
thirteen colonies The Thirteen Colonies, also known as the Thirteen British Colonies, the Thirteen American Colonies, or later as the United Colonies, were a group of British colonies on the Atlantic coast of North America. Founded in the 17th and 18th cent ...
of North America. For the English North American colonists, however, the Spanish peso or "piece of eight" has always held first place, and this coin was also called the "dollar" as early as 1581.
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 ...
s or "
pieces of eight 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 ...
" were distributed widely in the Spanish colonies in the New World and in the
Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...
.National Geographic. June 2002. p. 1. ''Ask Us''.


Origins of the dollar sign

The sign is first attested in business correspondence in the 1770s as a
scribal abbreviation Scribal abbreviations or sigla (singular: siglum) are abbreviations used by ancient and medieval scribes writing in various languages, including Latin, Greek, Old English and Old Norse. In modern manuscript editing (substantive and mechanica ...
"ps", referring to the Spanish American
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, "$", as many currencies named "dollar" ...
, that is, the "Spanish dollar" as it was known in British North America. These late 18th- and early 19th-century manuscripts show that the ''s'' gradually came to be written over the ''p'' developing a close equivalent to the "$" mark, and this new symbol was retained to refer to the American dollar as well, once this currency was adopted in 1785 by the United States.


Adoption by the United States

By the time of the
American Revolution The American Revolution was an ideological and political revolution that occurred in British America between 1765 and 1791. The Americans in the Thirteen Colonies formed independent states that defeated the British in the American Revoluti ...
, the Spanish dólar gained significance because they backed paper money authorized by the individual colonies and the Continental Congress. Because Britain deliberately withheld hard currency from the American colonies, virtually all the non-token coinage in circulation was Spanish (and to a much lesser extent French and Dutch) silver, obtained via illegal but widespread commerce with the West Indies. Common in the Thirteen Colonies, Spanish dólar were even
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 ...
in one colony,
Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...
. On April 2, 1792, U.S.
Secretary of the Treasury The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...
Alexander Hamilton reported to Congress the precise amount of silver found in
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 ...
coins in common use in the states. As a result, the
United States dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
was defined''Act of April 2, A.D. 1792 of the Senate and House of Representatives of the United States of America in Congress assembled, Section 9''. as a unit of pure silver weighing 371 4/16th grains (24.057 grams), or 416 grains of standard silver (standard silver being defined as 371.25/416 in silver, and balance in alloy).Section 13 of the Act. It was specified that the "money of account" of the United States should be expressed in those same "dollars" or parts thereof. Additionally, all lesser-denomination coins were defined as percentages of the dollar coin, such that a half-dollar was to contain half as much silver as a dollar, quarter-dollars would contain one-fourth as much, and so on. In an act passed in January 1837, the dollar's weight was reduced to 412.5 grains and alloy at 90% silver, resulting in the same fine silver content of 371.25 grains. On February 21, 1853, the quantity of silver in the lesser coins was reduced, with the effect that their denominations no longer represented their silver content relative to dollar coins. Various acts have subsequently been passed affecting the amount and type of metal in U.S. coins, so that today there is no legal definition of the term "dollar" to be found in U.S. statute. Currently the closest thing to a definition is found in United States Code Title 31, Section 5116, paragraph b, subsection 2: "The Secretary f the Treasuryshall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce." Silver was mostly removed from U.S. coinage by 1965 and the dollar became a free-floating
fiat money Fiat money (from la, fiat, "let it be done") is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was sometim ...
without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation.


Usage in the United Kingdom

There are two quotes in the plays of
William Shakespeare William Shakespeare ( 26 April 1564 – 23 April 1616) was an English playwright, poet and actor. He is widely regarded as the greatest writer in the English language and the world's pre-eminent dramatist. He is often called England's nation ...
referring to dollars as money. Coins known as "thistle dollars" were in use in
Scotland Scotland (, ) is a Countries of the United Kingdom, country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a Anglo-Scottish border, border with England to the southeast ...
during the 16th and 17th centuries, and use of the English word, and perhaps even the use of the coin, may have begun at the
University of St Andrews (Aien aristeuein) , motto_lang = grc , mottoeng = Ever to ExcelorEver to be the Best , established = , type = Public research university Ancient university , endowment ...
This might be supported by a reference to the sum of "ten thousand dollars" in '' Macbeth'' (act I, scene II) (an anachronism because the real Macbeth, upon whom the play was based, lived in the 11th century). In the Sherlock Holmes story "The Man with the Twisted Lip" by Sir Arthur Conan Doyle, published in 1891, an Englishman posing as a London beggar describes the shillings and pounds he collected as dollars. In 1804, a British five- shilling piece, or
crown A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...
, was sometimes called "dollar". It was an overstruck Spanish eight
real Real may refer to: Currencies * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Music Albums * ''Real'' (L'Arc-en-Ciel album) (2000) * ''Real'' (Bright album) (2010) ...
coin (the famous "
piece of eight 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 ...
"), the original of which was known as a Spanish dollar. Large numbers of these eight-real coins were captured during the
Napoleonic Wars The Napoleonic Wars (1803–1815) were a series of major global conflicts pitting the French Empire and its allies, led by Napoleon I, against a fluctuating array of European states formed into various coalitions. It produced a period of Fren ...
, hence their re-use by the Bank of England. They remained in use until 1811. During
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
, when the U.S. dollar was (approximately) valued at five shillings, the half crown (2s 6d) acquired the nickname "half dollar" or "half a dollar" in the UK.


Usage elsewhere

Chinese demand for silver in the 19th and early 20th centuries led several countries, notably the United Kingdom, United States and Japan, to mint
trade dollar Trade dollars are silver coins minted as trade coins by various countries to facilitate trade with China and the Orient. They all approximated in weight and fineness to the Spanish dollar, which had set the standard for a de facto common currency ...
s, which were often of slightly different weights from comparable domestic coinage. Silver dollars reaching China (whether Spanish, trade, or other) were often stamped with Chinese characters known as " chop marks", which indicated that that particular coin had been assayed by a well-known merchant and deemed genuine.


Other national currencies called "dollar"

Prior to 1873, the silver dollar circulated in many parts of the world, with a value in relation to the British gold sovereign of roughly $1 = 4s 2d (21p approx). As a result of the decision of the German Empire to stop minting silver ''thaler'' coins in 1871, in the wake of the Franco-Prussian War, the worldwide price of silver began to fall. This resulted in the U.S. Coinage Act (1873) which put the United States onto a '
de facto ''De facto'' ( ; , "in fact") describes practices that exist in reality, whether or not they are officially recognized by laws or other formal norms. It is commonly used to refer to what happens in practice, in contrast with ''de jure'' ("by la ...
' gold standard.
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
and Newfoundland were already on the gold standard, and the result was that the value of the dollar in North America increased in relation to silver dollars being used elsewhere, particularly
Latin America Latin America or * french: Amérique Latine, link=no * ht, Amerik Latin, link=no * pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived f ...
and the
Far East The ''Far East'' was a European term to refer to the geographical regions that includes East and Southeast Asia as well as the Russian Far East to a lesser extent. South Asia is sometimes also included for economic and cultural reasons. The ter ...
. By
1900 As of March 1 ( O.S. February 17), when the Julian calendar acknowledged a leap day and the Gregorian calendar did not, the Julian calendar fell one day further behind, bringing the difference to 13 days until February 28 ( O.S. February 15), 2 ...
, value of silver dollars had fallen to 50 percent of gold dollars. Following the abandonment of the gold standard by Canada in 1931, the Canadian dollar began to drift away from parity with the U.S. dollar. It returned to parity a few times, but since the end of the Bretton Woods system of fixed exchange rates that was agreed to in 1944, the Canadian dollar has been floating against the U.S. dollar. The silver dollars of Latin America and
South East Asia Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical south-eastern region of Asia, consisting of the regions that are situated south of mainland ...
began to diverge from each other as well during the course of the 20th century. The Straits dollar adopted a gold exchange standard in 1906 after it had been forced to rise in value against other silver dollars in the region. Hence, by 1935, when China and
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
came off the
silver standard The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following ...
, the Straits dollar was worth 2s 4d (11.5p approx) sterling, whereas the
Hong Kong dollar The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong ...
was worth only 1s 3d sterling (6p approx). The term "dollar" has also been adopted by other countries for currencies which do not share a common history with other dollars. Many of these currencies adopted the name after moving from a
£sd £sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the ...
-based to a decimalized monetary system. Examples include the
Australian dollar The Australian dollar ( sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Isl ...
, the
New Zealand dollar The New Zealand dollar ( mi, tāra o Aotearoa; sign: $, NZ$; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within Ne ...
, the Jamaican dollar, the
Cayman Islands dollar The Cayman Islands Dollar ( currency code ''KYD'') is the currency of the Cayman Islands. It is abbreviated with the dollar sign ''$'', or alternatively ''CI$'' to distinguish it from other dollar-denominated currencies. It is subdivided into 1 ...
, the
Fiji dollar The Fijian dollar (currency sign: FJ$, Dollar sign, $; ISO 4217, currency code: FJD) has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively ...
, the
Namibian dollar The Namibian dollar (symbol: N $; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 ...
, the
Rhodesian dollar The Rhodesian dollar (''R$ or Rh$'', ) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents. History The dollar was introduced on 17 February 1970, less than a month before the declaration of a republic on 2 Mar ...
, the Zimbabwe dollar, and the
Solomon Islands dollar The Solomon Islands dollar (ISO 4217 code: ''SBD'') is the currency of Solomon Islands since 1977. Its symbol is $, with SI$ used to differentiate it from other currencies also using the dollar sign. It is subdivided into 100 cents. Exchang ...
. * The '' tala'' is based on the Samoan pronunciation of the word "dollar". * The Slovenian tolar had the same etymological origin as dollar (that is, '' thaler''). * The Swedish Daler used to be the name for the currency and have the same etymological origin as the German '' thaler'').


See also

*
Canadian Tire money Canadian Tire money, officially Canadian Tire 'money' or CTM, is a loyalty program operated by the Canadian retail chain Canadian Tire Corporation (CTC). It consists of both paper coupons introduced in 1958 and used in Canadian Tire stores as s ...
*
Disney Dollars Disney Dollars is a form of corporate scrip previously sold by The Walt Disney Company and redeemable for goods or services at many Disney facilities. Similar in size and design to the paper currency of the United States, most bills bear the im ...
*
Eurodollar Eurodollars are U.S. dollars held in time deposit accounts in banks outside the United States, which thus are not subject to the legal jurisdiction of the U.S. Federal Reserve. Consequently, such deposits are subject to much less regulation than ...
*
List of circulating currencies There are 180 currencies recognized as legal tender in United Nations (UN) member states, UN General Assembly non-member observer states, partially recognized or unrecognized states, and their dependencies. However, excluding the pegged (f ...
* North American currency union Amero *
Petrodollar Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). It generally refers to the phenomenon of major petroleum-exporting states, mainly the OPEC members plus Russi ...


References


External links


Etymonline (word history)
for ''buck''
Etymonline (word history)
for ''dollar''

CNNMoney.com {{Authority control Denominations (currency) Numismatics Obsolete currencies in Malaysian history