Replace $ sign within a file using Vi editor

Can someone help me with this command?

I want to replace amount fields which are in the format $99.99 to 99.99 in a large data file which is within a HP box.
I use Vi editor and tried this command

:1,$s//$///g

And this does not seem to work

Also, I want to replace ^M with spaces in the same file.
Thanks

In Vi Editor press Esc key and type :%s/\$//g
and :s/\^M/ /g for replacing the ^M with spaces