American countries were being colonized by Britain. However, due to a shortage of the pound
(British currency), the dollar was being used. After America had acquired its independence, the
country adopted the dollar currency into its economy as a means of exchange (Davies).
The dollar sign symbolizes the importance of monetary history in the American economic
history. Different authors, explain different theories of the sign, however, Ayn Rand’s theory
stands out. As simple as the sign looks, Ayn explains that the dollar sign is an abbreviation of the
name United States (US). The letter S has been retained and the letter U put on top of it without
the lower part (Davies). The sign is also considered a symbol of patriotism because it symbolizes
a free country, with a free economy and a free mind (Davies).
During the modern times, the buck is considered slang for a dollar. However, Hiskey
explains that the buck was used as a means of exchange long before the first dollar was minted.
The name, duck refer to a deer’s skin. Traders used to exchange a bottle of whiskey for five
bucks. After Europeans began moving to industrial areas and government structures were put in
place, the Coinage Act passed in 1792. From the Act, the term buck was officially made a
medium of exchange (Davies). Buck has stuck until towards the end of the nineteenth century,
when the dollar was introduced and gained more popularity.
From a long history dating back several centuries, money has evolved through various
forms and is established as one of the most precious commodities for the existence of a man. The
commodity still plays the same role it played during the prehistoric era. However, one important
question arises from the research; 'is money still evolving and changing faces?' With
technological advancements in the modern world, money seems to advance at the same pace and
hence a century from now, other forms of money will have come up. This is evident with the