Dollar is the name of more than 20
currencies. They include the
Australian dollar
The Australian dollar (sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Isla ...
,
Brunei dollar
The Brunei dollar (sign: B$, Malay: ''ringgit Brunei'', currency code: ''BND''), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from o ...
,
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 Kon ...
,
Jamaican dollar,
Liberian dollar
The dollar (currency code ''LRD'') has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the sign $, or alternatively L$ or LD$ to distinguish it from other dollar-d ...
,
Namibian dollar,
New Taiwan dollar
The New Taiwan dollar ( code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of Taiwan. The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dolla ...
,
New Zealand dollar,
Singapore dollar
The Singapore dollar (currency sign, sign: S$; ISO 4217, code: SGD) is the official currency of the Republic of Singapore. It is divided into 100 cent (currency), cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish ...
,
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 official ...
,
Trinidad and Tobago Dollar 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 " ...
$ in the same way as many countries using
peso 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 sin ...
*
(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 official ...
* : US dollar (alongside the
pound sterling)
* : 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 ar ...
): 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 bord ...
:
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 official ...
*
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, t ...
: US dollar
*
Bolivia
, image_flag = Bandera de Bolivia (Estado).svg
, flag_alt = Horizontal tricolor (red, yellow, and green from top to bottom) with the coat of arms of Bolivia in the center
, flag_alt2 = 7 × 7 square p ...
: 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 pop ...
:
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 Kon ...
*
Maldives
The Maldives, officially the Republic of Maldives,, ) and historically known as the Maldive Islands, is a country and archipelagic state in South Asia in the Indian Ocean. The Maldives is southwest of Sri Lanka and India, about from the A ...
: 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 ...
: 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 = Seal (emblem), National seal
, national_motto = "Fi ...
: 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 ...
: 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 Confede ...
: The
Confederate States dollar 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 Er ...
: The name "Ethiopian dollar" was used in the English text on the
birr banknotes before the
Derg
The Derg (also spelled Dergue; , ), officially the Provisional Military Administrative Council (PMAC), was the military junta that ruled Ethiopia, then including present-day Eritrea, from 1974 to 1987, when the military leadership formally " c ...
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
Malaya refers to a number of historical and current political entities related to what is currently Peninsular Malaysia in Southeast Asia:
Political entities
* British Malaya (1826–1957), a loose collection of the British colony of the Straits ...
,
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. ...
,
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 alphabet, 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 sur ...
, 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, borde ...
) used several varieties of dollars (for example,
Straits dollar,
Malayan dollar,
Sarawak dollar,
British North Borneo dollar
The British North Borneo dollar was the currency of British North Borneo from 1882 to 1953. It was subdivided into 100 ''cents''. The dollar had remained at par with the Straits dollar (and its successor the Malayan dollar), the currency of Mal ...
;
Malaya and British Borneo dollar) before
Malaya
Malaya refers to a number of historical and current political entities related to what is currently Peninsular Malaysia in Southeast Asia:
Political entities
* British Malaya (1826–1957), a loose collection of the British colony of the Straits ...
,
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. ...
,
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 , Sierra ...
: 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")
, ...
: 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
Sri Lanka (, ; si, ශ්රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...
; the
Ceylonese rixdollar
The rixdollar was the currency of British Ceylon until 1828. It was subdivided into 48 ''stivers'', each of 4 ''duit''. Units called the '' fanam'' and ''larin'' were also used, worth 4 and 9½ stiver, respectively. The currency derived from the D ...
was a currency used in
British Ceylon in the early 19th Century.
*
Rhodesia
Rhodesia (, ), officially from 1970 the Republic of Rhodesia, was an unrecognised state in Southern Africa from 1965 to 1979, equivalent in territory to modern Zimbabwe. Rhodesia was the ''de facto'' Succession of states, successor state to th ...
: the
Rhodesian dollar 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 Mozam ...
came into being in 1980.
*
Republic of Texas
The Republic of Texas ( es, República de Tejas) was a sovereign state in North America that existed from March 2, 1836, to February 19, 1846, that bordered Mexico, the Republic of the Rio Grande in 1840 (another breakaway republic from M ...
: the
Texas dollar 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 Mozam ...
: 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 Eswatini (al ...
, 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 official ...
, 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, 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 wher ...
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 Joachimsthal, sometimes spelled Joachimstal, may refer to:
Places
* Joachimsthal, Bohemia, former name of Jáchymov,, Czechia, famous for its silver and uranium mines and which gave its name to the ''Joachimsthaler'' currency
* Joachimsthal, Bra ...
and marked on reverse with the
Bohemian lion. The coins would be named ''joachimsthaler'' after the town, becoming shortened in common usage to ''
thaler
A thaler (; also taler, from german: Taler) is one of the large silver coins minted in the states and territories of the Holy Roman Empire and the Habsburg monarchy during the Early Modern period. A ''thaler'' size silver coin has a diameter ...
'' 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 English term ''dale'').
This name found its way into other languages, for example:
*
German
German(s) may refer to:
* Germany (of or related to)
**Germania (historical use)
* Germans, citizens of Germany, people of German ancestry, or native speakers of the German language
** For citizens of Germany, see also German nationality law
**Ger ...
— ''
Thaler
A thaler (; also taler, from german: Taler) is one of the large silver coins minted in the states and territories of the Holy Roman Empire and the Habsburg monarchy during the Early Modern period. A ''thaler'' size silver coin has a diameter ...
'' (or ''Taler'')
*
Czech,
Slovak and
Slovenian — ''
tolar''
*
Slovak — ''toliar''
*
Low German
:
:
:
:
:
(70,000)
(30,000)
(8,000)
, familycolor = Indo-European
, fam2 = Germanic
, fam3 = West Germanic
, fam4 = North Sea Germanic
, ancestor = Old Saxon
, ancestor2 = Middle ...
— ''daler''
*
Dutch — ''
rijksdaalder'' (or ''daler''),
*
Danish and
Norwegian — ''
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
The svenska riksdaler () was the name of a Swedish coin first minted in 1604. Between 1777 and 1873, it was the currency of Sweden. The daler, like the dollar,''National Geographic''. June 2002. p. 1. ''Ask Us''. was named after the German Thale ...
''
*
Spanish — ''
dólar'' (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 — ''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" 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 ...
"p
s", referring to the Spanish American
peso, 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 Revolu ...
, the Spanish dólar gained significance because they backed paper money authorized by the individual colonies and the
Continental Congress
The Continental Congress was a series of legislative bodies, with some executive function, for thirteen of Britain's colonies in North America, and the newly declared United States just before, during, and after the American Revolutionary War. ...
.
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 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 East Coast of the United States, Atlantic Coast and the Appalachian Mountains. The geography an ...
.
On April 2, 1792, U.S.
Secretary of the Treasury 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 official ...
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 Treasury
F, or f, is the sixth letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''ef'' (pronounced ), and the plural is ''efs''.
Hist ...
shall 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 natio ...
referring to dollars as money. Coins known as "thistle dollars" were in use in
Scotland
Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to th ...
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
''Macbeth'' (, full title ''The Tragedie of Macbeth'') is a tragedy by William Shakespeare. It is thought to have been first performed in 1606. It dramatises the damaging physical and psychological effects of political ambition on those w ...
'' (act I, scene II) (an
anachronism because the real
Macbeth
''Macbeth'' (, full title ''The Tragedie of Macbeth'') is a tragedy by William Shakespeare. It is thought to have been first performed in 1606. It dramatises the damaging physical and psychological effects of political ambition on those w ...
, 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 coin (the famous "
piece of eight"), 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 World War II by country, vast majority of the world's countries—including all of the great power ...
, 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 dollars, 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)
The Coinage Act of 1873 or Mint Act of 1873, was a general revision of laws relating to the Mint of the United States. By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of go ...
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 l ...
' 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 tota ...
and
Newfoundland
Newfoundland and Labrador (; french: Terre-Neuve-et-Labrador; frequently abbreviated as NL) is the easternmost province of Canada, in the country's Atlantic region. The province comprises the island of Newfoundland and the continental region ...
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 ...
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 te ...
. 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), ...
, 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
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bret ...
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 United Nations geoscheme for Asia#South-eastern Asia, south-eastern region of Asia, consistin ...
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 Straits dollar was worth 2s 4d (11.5p approx)
sterling
Sterling may refer to:
Common meanings
* Sterling silver, a grade of silver
* Sterling (currency), the currency of the United Kingdom
** Pound sterling, the primary unit of that currency
Places United Kingdom
* Stirling, a Scottish city w ...
, 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 Kon ...
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 Isla ...
, the
New Zealand dollar, the
Jamaican dollar, the
Cayman Islands dollar, the
Fiji dollar, the
Namibian dollar, the
Rhodesian dollar, 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.
Exchan ...
.
* The ''
tala
Tala may refer to:
Arts and entertainment
* Tala (comics), a fictional character in DC comics
*''Tala'', a 1938 volume of poetry by Gabriela Mistral
*Tala (music), a rhythmic pattern in Indian classical music
* "Tala" (song), by Sarah Geronimo ...
'' is based on the
Samoan pronunciation of the word "dollar".
* The
Slovenian tolar
The tolar was the currency of Slovenia from 8 October 1991 until the introduction of the euro on 1 January 2007. It was subdivided into 100 ''stotinov'' (cents). The ISO 4217 currency code for the Slovenian tolar was ''SIT''. From October 199 ...
had the same etymological origin as dollar (that is, ''
thaler
A thaler (; also taler, from german: Taler) is one of the large silver coins minted in the states and territories of the Holy Roman Empire and the Habsburg monarchy during the Early Modern period. A ''thaler'' size silver coin has a diameter ...
'').
* The
Swedish Daler
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 ...
used to be the name for the currency and have the same etymological origin as the German ''
thaler
A thaler (; also taler, from german: Taler) is one of the large silver coins minted in the states and territories of the Holy Roman Empire and the Habsburg monarchy during the Early Modern period. A ''thaler'' size silver coin has a diameter ...
'').
See also
*
Canadian Tire money
*
Disney Dollars
*
Eurodollar
*
List of circulating currencies
*
North American currency union Amero
*
Petrodollar
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