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The school was founded in 1818 by Captain John McNab and Scottish architect William Henry Playfair was responsible for the design of the varsity constructing. Dollar was based in 1818 following a bequest by Captain John McNab or McNabb. McNabb bequeathed a part of his fortune - £65,000, equivalent to £7,330,606 in 2023 - to provide "a charity or school for the poor of the parish of Dollar where I was born". The Central Regional Council decide to not continue with the lengthy-standing agreement which was in place with regard to charges for Dollar Parish pupils which resulted in the varsity changing into a completely impartial school. Scotland. Day pupils are often from the village of Dollar or the encircling counties of Clackmannanshire, Stirlingshire, Perth and Kinross, and Fife. Dollar Academy is a 5-18 non-public co-instructional day and boarding school for boys and ladies in Scotland. In 1961, a fireplace broke out at the school which destroyed the inside of the Playfair Building, with all classrooms and the varsity library containing 12,000 books being destroyed.

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