What’s the history of the ‘$’ sign?

I was browsing some news about our tanking economy today when I suddenly asked myself– why is the American dollar symbolized by “$“? Here is the answer, according to Wikipedia:

The sign is attested in business correspondence between British North America and Mexico in the 1770s, as referring to the Spanish-Mexican peso.^[1] The piastre was known as “Spanish dollar” in British North America, and in 1785, it was adopted as U.S. currency, together with both the term “dollar” and the $ sign. Interestingly, the first instance of the symbol on U.S.A. currency is on the reverse of a $1 coin first issued in February 2007, under the Presidential $1 Coin Act of 2005.^[2]

The sign’s ultimate origins are not certain,^[3] though it is widely accepted that it comes from the Spanish coat of arms, which carries the two Pillars of Hercules and the motto Plus Ultra in the shape of an “S”.

The most popular explanation is that the dollar sign derives from the Spanish coat of arms engraved on the Spanish colonial silver coins “Real de a Ocho” (“piece of eight”) or Spanish dollar under circulation in the Spanish colonies of America and Asia, as well as in the English Thirteen Colonies and later the U.S. and Canada.

The Pillars of Hercules with "S"-shaped ribbon in the Town Hall of Seville, (Spain) (16th century) Image from Wikipedia

The Spanish coat of arms has two columns (||), which represent the Pillars of Hercules and an “S”-shaped ribbon around each, with the motto “Non Plus Ultra” originally, and later “Plus Ultra”.^[4]

In 1492, King Ferdinand II of Aragon put Gibraltar under the new joined rule of the Spanish throne. He adopted the symbol of the Pillars of Hercules and added the Latin phrase Non plus ultra – meaning “and nothing further”, indicating “[this is] the end of the (known) world”. But as Christopher Columbus in 1492 travelled to the Americas, the saying was changed to Plus Ultra – as there was more out there.^[5] This symbol was especially adopted by Charles V and was a part of his coat of arms as a symbol of his American possessions and riches. When the Spanish conquistadores found gold and silver in the New World, Charles V’s symbol was stamped on the coins made from these metals. These coins with the Pillars of Hercules over two hemispheres (columnarios) were spread around America and Europe, and the symbol was ultimately adopted by the country that became the United States and by many of the continent’s other independent nations. Later on, salesmen wrote signs that, instead of saying dollar, had this handwritten symbol, and in turn this developed to the simple S with two vertical bars.

The World Is Awaiting President Obama

By Alan Fram
for the Associated Press
June 12, 2008
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WASHINGTON — People around the globe widely expect the next American president to improve the country’s policies toward the rest of the world, especially if Barack Obama is elected, yet they retain a persistently poor image of the U.S., according to a poll released Thursday.

The survey of two dozen countries, conducted this spring by the nonpartisan Pew Research Center, also found a growing despondency over the international economy, with majorities in 18 nations calling domestic economic conditions poor. In more bad news for the U.S., people shared a widespread sense the American economy was hurting their countries, including large majorities in U.S. allies Britain, Germany, Australia, Turkey, France and Japan.

Even six in 10 Americans agreed the U.S. economy was having a negative impact abroad.

Views of the U.S. improved or stayed the same as last year in 18 nations, the first positive signs the poll has found for the U.S. image worldwide this decade. Even so, many improvements were modest and the U.S. remains less popular in most countries than it was before it invaded Iraq in 2003, with majorities in only eight expressing favorable opinions…

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