PowerShell script not accepting $ (dollar) sign

I am trying to open an SQL data connection using a PowerShell script and my password contains a $ sign:

$cn = new-object system.data.SqlClient.SqlConnection("Data Source=DBNAME;Initial Catalog=Catagory;User ID=User;Password=pass$word;")

When I try to open a connection it says:

Login failed

Solution 1:

Escape it by using backtick (`) as an escape character for the dollar sign ($).

Also, try to enclose the statement in single-quotes instead of the double-quotes you are using now.