You mean like in a println call? Yeah I believe it does. Actually... I seem to recall that you can actually use the $ in a variable as well in Java, but its not recommended practice (especially now that it would like a lot like PHP objects).
Don't quote me on that, but I believe that yes it will print normally without needing escaping, and that it can be used in a variable name.
Just give it a try, worst comes to worst you'll need to escape it.
header('HTTP/1.1 420 Enhance Your Calm');