The German word for valley is "tal"; a taler or thaler is a person or thing from a valley. Wikipedia explains that "the Thaler (or Taler or Talir) was a silver coin used throughout Europe for almost four hundred years." It is short for "Joachimsthaler", the first of such coins, which were minted in the valley of St. Joachim (now Jáchymov in the Czech Republic) beginning in the 16th century.
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