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We understand from handwritten manuscripts you to definitely merchants and traders have a tendency to abbreviated the brand new peso because the “PS.” As the date continued, and also as the brand new abbreviation turned usual, the brand new “S” is tend to composed over the “P,” creating a keen approximation of one’s “” symbol. Probably the most extensively approved principle outlines the newest money icon’s sources to your Spanish peso, and that anything you pirates available knows as the “bits of eight.” The fresh Language peso is actually a principal money regarding the Americas during the the new colonial point in time, and you may is approved because the very first device useful in the colonial The usa within the later 1700s. A new well-known principle — and most likely a well-known myth — is that the symbol represents “United states” and you may originated in the brand new abbreviation “U.S.,” to your letters superimposed and also the “U” becoming conventionalized over time. (The brand new mine in the Potosí had previously been area of the supply of silver for the Spanish Kingdom.) The fresh mint put a great stamp one to seemed the brand new characters PTSI (to own Potosí) enforced towards the top of one another, which could have created an icon similar to the progressive dollar signal. Another, equivalent idea argues that the icon originated from the newest Potosí perfect inside Bolivia, and this run from 1573 in order to 1825.
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