The symbols of the dollar, pound and euro are familiar to everyone, but not everyone knows their origin. These simple icons hide fascinating stories that go back centuries. In this article, we will trace the fascinating path of ancient symbols that have become emblems of the world’s leading currencies.
The origin of the dollar symbol ($)
The dollar sign ($) is one of the most recognizable symbols in the world. It is associated not only with the American currency, but also with wealth, success, and financial well-being. But where did this symbol come from and why does it look exactly like this – the letter S crossed out with one or two vertical lines? There are several versions of the origin of this sign.
Version 1: Connection with Spanish Pesos
The most common version connects the origin of the $ symbol with the Spanish silver peso coins, which were widely used in the North American colonies in the XVIII century. These coins were often marked with the abbreviation «Ps», which stood for «peso». Over time, the letter «P» was transformed into a strikethrough line, and the «S» remained unchanged. This is how the modern dollar sign turned out.
This version is supported by documents from the colonial era, where the $ symbol was used as an abbreviation for the peso. For example, in a 1770s accounting book from Virginia, there is an entry «174 $», meaning «174 pesos». Gradually, this sign became fixed for the American dollar, which was initially equated to the Spanish peso.
Version 2: Pillars of Hercules
Another version traces the origin of the $ symbol to the so-called Pillars of Hercules. In ancient mythology, the Pillars of Hercules were the rocks on both sides of the Strait of Gibraltar, which, according to legend, were erected by Hercules to commemorate the end of the world. These pillars were often depicted on ancient and medieval coins in the form of two vertical lines.
In the era of Great Geographical Discoveries, the image of the Pillars of Hercules, wrapped with a ribbon with the inscription «Plus Ultra» («Beyond the limit»), became the emblem of the Spanish kingdom. It symbolized Spain’s going beyond the world known to Europeans. Perhaps the $ sign originated from a simplified image of the Pillars of Hercules with a ribbon.
Although this version looks very impressive, it has little documentary evidence. In addition, it remains unclear how the symbol of the Spanish Empire could turn into a symbol of its main competitor, the United States.
Version 3: Abbreviation from the USA
The third version assumes that the $ sign is a monogram of the letters U and S – the abbreviated designation of the United States (United States). Indeed, on some early American coins, it is possible to distinguish not just the letter S, but the interlacing of the letters U and S.
However, most researchers consider this version to be a folk etymology, since they do not find sufficient evidence of the use of the $ sign in the meaning of «American» in the XVIII-XIX centuries. Most likely, the US monogram is a later interpretation of an already established symbol.
The history of the euro symbol (€)
The idea of creating a single European currency originated long before the introduction of the euro in 1999. Back in the 1960s, many European politicians viewed the common currency as a means of strengthening economic and political ties between European countries and preventing new military conflicts on the continent.
The € symbol was officially approved by the European Commission in December 1996. Its design was chosen during a pan-European competition in which dozens of artists and designers participated. However, the name of the winner of the contest is still kept secret, which has given rise to many rumors and speculation.
According to one version, the author of the € sign is Arthur Eisenmenger, a Belgian designer who previously participated in the design of the EU flag. According to another version, the symbol was invented by Robert Kalina, the chief designer of the Central Bank of Austria. It is also suggested that an entire international design team worked on the sign.
Anyway, the official interpretation of the € symbol says that it is a combination of three elements:
The letter «E» refers to the name of the currency and to the European Union itself.
Two parallel lines crossing the letter «E» symbolize the stability of the euro.
The € sign also resembles the Greek letter epsilon (ε), which emphasizes the importance of ancient Greece as the cradle of European civilization.
Interestingly, it was originally planned to make the crossing lines not parallel, but curved in the shape of a bridge. This option was supposed to embody the connection and unity of European countries. However, it was abandoned due to the difficulty of playback on computers of that time.
The color scheme of the euro symbol is not regulated. Usually, the € sign is depicted in dark blue on a white background or in white on blue — by analogy with the flag of the European Union. But other colors are also allowed, especially in an informal context.
The history of the appearance of the pound symbol
The name «pound» comes from the fact that initially this monetary unit was equal in value to one pound of silver (about 453 grams). But why is the word «pound» used? The fact is that it goes back to the Latin expression «libra pondo», which literally means «a pound in weight».
In ancient Rome, libra pondo was written abbreviated as lb or lp with a horizontal line on top. Over time, this symbol was transformed and in the Middle Ages began to be written as ł (L with a dash). Such an inscription is found, for example, in the writings of the English bishop Richard de Bury (XIV century).
The modern symbol of the pound was finally formed by the XVIII century. It is a modified letter L with one or two horizontal lines. According to the Oxford English Dictionary, the £ sign in its current form was first recorded in 1789.
Curiously, in parallel with £, up to the 19th century, the ligature combination ₤ (lb with a dash on top) was sometimes used as a pound symbol. Some researchers also associate the £ sign with the ornamental capital L, which was used in medieval manuscripts.
To sum up, we can say that the symbols £, $ and € have a rich history dating back to ancient times. Their modern design is the result of a long evolution influenced by linguistic, cultural and aesthetic factors of different eras. Knowing the origin of these signs makes it possible to better understand the ways of writing development, as well as the role of money in the history of human civilization.
