This refers to the neck brace commonly seen on people who have been in an accident, and sustained injuries to their neck or spinal cord. It's called a dollar collar because when you get one this way, someone else is typically paying the medical bills, and some extra, and you sit around and "recuperate".
When you see a (normally black) person driving stupidly...

Steve: Did you see that SUV pull out in front of that bus?!
Dave: Man that stupid nigger must be tryin' to get a damn dollar collar.
by Plate of Berries December 12, 2011

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