By: J.A. Laraque
The dollar sign is one of the most recognizable symbols in the world. Signifying currency in modern day times, it has been used in everything from pop culture to computer programming languages. Even at an early age the dollar sign was imprinted into the minds of children from cartoon money bags and play money. One would believe that everything there is to know about this recognized symbol of finance would have already been discovered. However, the history and origin of the dollar sign is still a mystery to this day.
The Spanish Coat of Arms
There are several theories and explanations for the unique design of the dollar sign, but the most widely accepted explanation is that it was taken from the Spanish Coat of Arms. Found on the colonial Spanish dollar, the Spanish coat of arms had two columns and an ‘S’ shaped ribbon which wrapped around both columns. The coins stamped with this symbol were spread across the America and Europe and was eventually adopted by the United States as well as other countries.
Alternative Theories
The origin of the dollar sign enjoys quite a few alternative theories. The top of those is one again rooted in Spanish history. A study of old manuscripts shows the evolution of the Mexican or Spanish ‘P’s’ for pesos or piastres. Gradually the ‘S’ came to be written over the ‘P’. When you look at these two letters written on top of one another you discover a close equivalent to the dollar sign mark. The symbol of the dollar sign on money bags is not just something out of a cartoon or bad gangster movie. The dollar sign was actually used as a marker on bags issued by the United States Mint. The theory is that the mark is a monogram of the letter ‘U’ and ‘S’ for United States. Superimposed they resemble the double stroke dollar sign. However, this theory does not take into account that the dollar sign was already in use before the term ‘United States’ existed.
An Expanding Mystery
There are quite a few other theories for the origin of the dollar sign. One is that it is taken from the Roman coin the Sestertius which had the letters ‘HS’ as its currency sign. Like the ‘U’ and ‘S’ and ‘P’ and ‘S’ when the ‘H’ and ‘S’ are superimposed it resembles the dollar sign. Another theory is that the two vertical lines represent the two cult pillars Boaz and Jachin in the original Temple of Solomon in Jerusalem. This theory is based on the use of Masconic symbols found on U.S. currency such as the All Seeing Eye.
Defined if not explained
Even with the unconfirmed origins of the dollar sign, there is no question of its definition not only in financial institutions, but in everyday life. From graffiti to jewelry it is one of the most wildly used yet misunderstood symbols out there. There are however symbols that have had its history changed in a way that has altered its definition and meaning in the minds of billions. Next In part two of this special three part series, we will explore the history of one of the oldest and most recognized symbols in the world: the swastika.
