Dollar

Dollar (Ger. thaler, perhaps from thal, a valley). The usual explanation of the name is that they were first coined in Joachim's Thal, Bohemia, about 1600 or 1512: a less probable etymology connects them with German theil, part, Eng. deal, distribute, share, because they were regarded as parts of a ducat (q.v.). Originally coined in Germany, the dollar passed to Spain and thence to Spanish America. It was familiar in the British colonies in America before the revolution, so much so that some people kept their accounts in dollars; and was adopted as the legal unit of value by the "Continental Congress" during the American revolution in 1785. In 1792 its weight was fixed by Act of Congress at 371-1/4 grams of pure or 416 of standard silver. The silver dollar remained the legal unit in the United States till 1873, when the gold dollar of 25.8 grams weight (= 4s. 1-1/4d.) was substituted by Act of Congress. The symbol $ is said to be from Lat. semis, half (a ducat), or a combination of the figure 8 (the Spanish dollar being worth eight reals) with two lines borne by that coin to distinguish it from the dollars of other nations.