This is one of those things I must have known at some point, but it came as a fresh shock to me when I ran across it today: price, prize, and praise are, historically, the same word. Here’s what the OED has to say:
price, n.
[ME. a. OF. pris (mod.F. prix):—earlier *prieis (= Pr. pretz, Sp. prez, It. prezzo):—late L. precium, orig. pretium ‘price, value, wages, reward’; in OF. also ‘honour, praise, prize’. The long ī of ME. pris was variously represented by ii, ij, iy, yi, y, ie, and indicated later by final e, prise; but to avoid the z sound of s between two vowels (cf. rise, wise), prise was changed to price (as in dice, mice, twice). The pl. had, sometimes at least, the z sound (cf. house, houses) and was commonly written prises, prizes in 16-17th c.; but though (‘praɪzɪz) is still common dialectally and with individuals, the standard pronunciation is now (‘praɪsɪz) after the sing., prices being thus distinguished from prizes. ME. pris had all the OF. senses ‘price, value, honour, prize, praise’; it first threw off the last of these, for which in 15th c. the n. preise, PRAISE, was formed from the cognate vb. preisen, PRAISE. During the last 300 years it has also thrown off the fourth sense, for which the by-form PRIZE has been established. The sense ‘honour’ is obsolete, that of worth or value (‘a pearl of great price’) obs. or arch., so that price now retains only the primitive sense of OF. pris and L. pretium.]
That’s the kind of thing that made me want to be a historical linguist. (Via Wordorigins.org.)
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