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Ever Wondered Why '$' Is Used To Represent The Dollar Sign?
The '$' symbol was actually used only during the 1800s, and before that the sign never appeared on American currency. But how was it derived? What are the alternate theories of its derivation?
Read on to find out. *chiching*
1. This is one of the most widely accepted theory.
This theory was derived by a mathematician, Florian Cajori, in 1928, from his book
History of Mathematical Notations. In the late 1700s, the US began pointing its own dollar based on the Spanish dollar.
2. Paper dollars didn't existed until 1861.
3. Spanish Dollar a.k.a. Peso has already been around in the mid 1500s.
4. Also, Peso in Spanish means 'weight.'
And USA got the word 'dollar' from the European 'dollar.'
5. In the 16th Century, Spanish started abbreviating Peso in various ways.
6. One popular variation was 'PS' meaning 'P' and 'S' combining together to form a '$.'
7. Apparently, the US borrowed the symbol from the Spanish American.
8. This all happened in the 1770s, in the diary of a member of a New York Provincial Academy.
9. In the diary, from June 10, 1776 to August 20th....
... the word 'dollar' was spelled out.
10. However, on August 21, 1776, '$' symbol was used.
From that day everybody started to use $ sign.
11. Other theories say that the symbol $ derived from U & S combined.
12. Another story stated that dollar is derived from a slash through an '8'...
...because Peso is called Peso de Ocho or a piece of 8.
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