History of Dollar

Topics: Dollar, Netherlands, Spanish dollar Pages: 1 (268 words) Published: June 2, 2013
History

On 15 January 1520, Bohemia began minting coins from silver mined locally in Joachimsthal. The coins were called "Joachimsthaler," which became shortened in common usage to thaler or taler. The German name Joachimsthal literally means Joachim's valley or Joachim's dale. This name found its way into other languages: Czech tolar, Hungarian tallér, Danish and Norwegian (rigs) daler, Swedish (riks) daler, Icelandic dalur, Dutch (rijks) daalder or daler, Ethiopian ታላሪ ("talari"), Italian tallero, Flemish daelder, Polish Talar, Persian Dare, as well as - via Dutch - into English as dollar.

A later Dutch coin depicting a lion was called the leeuwendaler (English lion daler). The Dutch Republic produced these coins to accommodate its booming international trade. The leeuwendaler or leeuwendaalder circulated throughout the Middle East and was imitated in several German and Italian cities. This coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony (New York). It was in circulation throughout the Thirteen Colonies during the 17th and early 18th centuries and was popularly known as lion (or lyon) dollar.[1][2] The modern American-English pronunciation of dollar is still remarkably close to the 17th century Dutch pronunciation of daler.[3] Some well-worn examples circulating in the Colonies were known as "dog dollars".[4]

Spanish pesos - having the same weight and shape - came to be known as Spanish dollars.[3][5] By the mid-18th century, the lion dollar had been replaced by Spanish dollar, the famous "piece of eight", which were distributed widely in the Spanish colonies in the New World and in the Philippines.[5][6][7][8][9
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