Dollar

The word “dollar” is associated with the United States and its currency system, but the word has an interesting history that began long before the US became a country. The story of the dollar starts in 1518, when a rich vein of silver was found in a mine in a valley in Bohemia, then part of the Hapsburg Empire, and now the Czech Republic. The place was called Joachimsthal, Saint Joachim’s Valley. The rich silver supply resulted in the Empire minting a lot of silver coins, coins that were widely circulated because of their high silver content and commonly called “thalers.” The pronunciation of the word originally meaning “valley” was fairly close to the modern American pronunciation of “dollar.” The most famous were minted during the time of the Empress Maria Teresa (1740-1780), and were large and valuable coins that came to be known as Maria Teresa thalers. The Maria Teresa dollars were very widely used, minted and circulating well into the 1900s. In Spain, the Hapsburg connection resulted in the Spanish 8 real coin, sometimes called the taler or tolar. The coin was minted in Mexico and circulated widely in the English colonies as well as the Spanish. The Spanish name was adopted by the young USA as the name for its currency in 1785. The word is an immigrant that traveled from Bohemia to Spain to Mexico to the USA.

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