late 14c., denominacioun, "a naming, act of giving a name to," from Old French denominacion "nominating, naming," from Latin denominationem (nominative denominatio) "a calling by anything other than the proper name, metonymy," noun of action from past-participle stem of denominare "to name," from de- "completely" (see de-) + nominare "to name," from nomen "name" (from PIE root *no-men- "name").
From mid-15c. as "a class name, a collective designation," of things; of persons, "a society or collection of individuals," 1660s. From the first comes the monetary sense (1650s) from the second the meaning "religious sect" (1716).