FACT FOOD #355

Early in 16th century, Count Hieronymus Schlick of Bohemia began to mint coins which were known as Joachimstalers, named after Joachimstal valley where the metal silver was mined. The word Taler in German (meaning valley as in dale in English) found its way into the Dutch language as daler or daalder. The coins minted in Jochimstal soon lent their name for coins of similar size and weight. The Dutch coin depicting a lion was called ‘leeuwendaler’ and soon this currency became the coin of choice for foreign trade. This coin circulated in the Dutch East Indies and Dutch New Netherland Colony in America also in the thirteen colonies of British in America in 17th and 18th centuries. It was known as lion dollar in the English speaking community and that is the origin of the name ‘dollar’ which was the choice of name for the American currency.