: any of various coins or pieces of paper money (as of the United States or Canada) equal to 100 cents
Word History of DOLLAR
In the early 1500s, much of the silver used to mint coins in Europe came from the mountains on the current border of Germany and the Czech Republic. A mine in these mountains near the town of Sankt Joachimstal produced a coin called in German the Joachimstaler, or Taler for short. In the Dutch form daler, this word was borrowed into English and applied to similar silver coins. One such coin was the Spanish peso, which circulated in England's North American colonies. When the newly independent American colonies settled on an official money unit in 1785, they chose the name dollar after this familiar coin.