Symbol for the Dollar ($) is used not only in the USA, but also for the Canadian (CA$), Australian (AU$), and New Zealand Dollar (NZ$), the Brazilian Real (R$), or the Singapore Dollar (S$). There are several theories about the origin of the symbol for the American Dollar. The most likely of them can be found in this article.
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The Dollar Symbol Comes from the Spanish Peso
According to one of the most widespread theories, the dollar sign comes from the Spanish dollar, which was used as currency across the Americas in the 18th century. In Spanish, the coins were referred to as “pesos” or “real de a ocho,” and in English, they were known as “Pieces of Eight.” When quoting prices, the abbreviation “Ps” or “₧” was commonly used.
In the 18th century, the Spanish real was widely circulated in colonial areas, including those that later became the United States of America. The currency was commonly used across the continent, including in British, Spanish, French, and Dutch colonies. Most transactions in America were carried out with these Spanish coins because they had stable value and were widely accepted.
When the United States gained its independence and began creating its own currency in 1792, it was inspired by the Spanish peso. The silver dollar coins minted in 1794 had the same weight and value as the Spanish coins.
It can therefore be assumed that Americans adopted the symbol for the dollar ₧ from the Spanish, which was already familiar to merchants. Over time, “Ps” was shortened to $. The letter “P” was initially replaced with a pair of vertical lines, which later became a single line.
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The $ Symbol is an Abbreviation for US
According to another theory, the $ symbol originates from the late 18th century, when the U.S. government wanted to create a unique and easily recognizable symbol for the newly established currency. The $ symbol was supposed to be an abbreviation for “U.S.” as in the United States.
The two vertical lines through the letter S were meant to represent the connection of both letters. This simple symbol provided high efficiency both in printing and writing. Over time, the double line was simplified to just one line.
However, this theory is unlikely, as there is not enough evidence to support it, and only a small number of historians back it. The letter “U” was not commonly abbreviated with a pair of vertical lines at that time.
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How to Type the Dollar Symbol ($) on a Keyboard
To type the dollar sign on Windows devices, simply hold the left Alt key and press 36 on the numeric keypad. On Mac computers, just press Shift + 4.
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