Why is “phony” spelled with a ph?

Solution 1:

The following site suggests the origin of the term phoney citing lexicographer Eric Patridge and the OED. As for the spelling, they suggest that the use of ph- vs f- was probably influenced by terms of Greek origin which, like telephone, were first used at that time:

The origin of phones was via American phoney man, a peddler of imitation jewellery.

Partridge notes that phoney man is:

from its original, the English fawney man, itself an adaption of the British fawney cove, one who practises ‘the fawney rig’ or ring-dropping trick, involving a gilt ring passed off as gold and first described by George Parker in A View of Society, 1781.

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While many etymologists suspect this origin of phoney is genuine, we still not absolutely certain of its truth. If it is true, the spelling of phoney, using ph– for f-, must be influenced by spelling of the Greek-based phone, I imagine. My speculation fits the historical timeline: phone, short for telephone, is recorded by 1880, while phone, as a speech sound in linguistic circles, is documented a little earlier.

And phony‘s passage from Irish to British and American English also generally matches with the Irish diaspora – though I, as a person of Irish descent who is soon moving to Dublin, must take umbrage at the aspersions phony’s origins casts on the Irish.

(mashed-radish.com)