The $2 bill is often mistaken for a discontinued rarity, but in reality, they remain in circulation and continue to be printed by the U.S. Bureau of Engraving and Printing. However, while most $2 bills are only worth their face value, certain rare specimens can be worth hundreds or even thousands of dollars to collectors. This article explores the most valuable $2 bills, explains how to identify them, and offers guidance on determining if you might have a hidden treasure in your wallet or collection.
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The History of the $2 Bill
The $2 bill has a rich history dating back to 1862 when it was first issued as a Legal Tender Note (United States Note) featuring a portrait of Alexander Hamilton. In 1869, the design was changed to feature Thomas Jefferson, whose portrait has remained on the bill ever since. Throughout its history, the $2 bill has undergone several changes in design and status:
| Period | Key Features |
|---|---|
| 1862-1869 | Featured Alexander Hamilton |
| 1869-1928 | Large-sized notes with Thomas Jefferson |
| 1928-1966 | Smaller-sized United States Notes with red seals |
| 1966-1976 | Discontinued (not printed) |
| 1976-Present | Federal Reserve Notes with Declaration of Independence on reverse |
According to the Bureau of Engraving and Printing, the current $2 bill features Thomas Jefferson on the obverse and an engraving of John Trumbull’s painting “Declaration of Independence” on the reverse. The most recent printing has the Series 2017A designation, and there are currently no plans to redesign the $2 note.
The Most Valuable $2 Bills
While millions of $2 bills remain in circulation, certain rare specimens can fetch significant premiums in the collector market. Here are the most valuable $2 bills to look for:
1. 1890 Treasury Note (Coin Note)
| Feature | Value |
|---|---|
| Description | Features a large brown seal |
| Value Range | $2,800 – $3,800 (uncirculated) |
| Why It’s Valuable | Historical significance and limited availability |
These early bills, known as “Coin Notes,” were backed by gold or silver, adding to their rarity and historical importance. Their distinctive large brown seal makes them easily identifiable.
2. 1869 “Rainbow” Note
| Feature | Value |
|---|---|
| Description | Notable for its multicolored design and red Treasury seal |
| Value Range | $500 – $2,500 (depending on condition) |
| Why It’s Valuable | Distinctive design and historical significance |
Named for its colorful appearance, the “Rainbow” Note is a collector favorite due to its vibrant design elements and historical importance as one of the earlier $2 bill designs.
3. 1928 Red Seal Notes
| Feature | Value |
|---|---|
| Description | First small-sized $2 bill with a red Treasury seal |
| Value Range | $5 – $175 (circulated), $1,000+ (uncirculated) |
| Why It’s Valuable | Marked transition to modern bill size and design |
These notes were the first $2 bills produced in the smaller size that we recognize today. The 1928B series with star notes (replacement bills) are particularly valuable, with uncirculated examples fetching up to $1,000 or more.
4. 1976 Bicentennial Notes with Special Features
| Feature | Value |
|---|---|
| Description | Released for the U.S. Bicentennial with Declaration of Independence reverse |
| Value Range | $2 – $20 (regular), Up to $900 (rare serial numbers) |
| Why It’s Valuable | Special serial numbers and misprints |
While regular 1976 $2 bills are common, those with special serial numbers—particularly “ladder notes” with sequential numbers like 12345678—can be worth thousands of dollars at auction.
5. Error Notes (Various Years)
| Feature | Value |
|---|---|
| Description | Bills with printing errors like double serial numbers or misaligned seals |
| Value Range | $500 – $1,500 (depending on error and condition) |
| Why It’s Valuable | Unique errors make them one-of-a-kind collectibles |
Printing errors make bills unique and therefore valuable to collectors. The more dramatic or unusual the error, the higher the potential value.
6. Star Notes (Various Years)
| Feature | Value |
|---|---|
| Description | Replacement notes with a star symbol (★) in the serial number |
| Value Range | $100 – $500 (depending on year and condition) |
| Why It’s Valuable | Produced in smaller quantities than regular notes |
Star notes, particularly those from years with limited printings, can be significantly more valuable than their regular counterparts.
7. Low Serial Number Notes (Various Years)
| Feature | Value |
|---|---|
| Description | Notes with very low serial numbers (e.g., 00000001) |
| Value Range | Varies widely (premium value over face value) |
| Why It’s Valuable | Collectors prize low serial numbers for their uniqueness |
The lower the serial number, the more desirable the bill. Serial numbers like 00000001 or 00000002 can command significant premiums.
How to Identify Valuable $2 Bills
To determine if your $2 bill might be valuable, follow these steps:
1. Check the Year and Series
Look for the series year printed on the front of the bill near Jefferson’s portrait. Older series, especially those printed before 1976, tend to be more valuable. Here’s what to look for:
- Pre-1928: Large-sized notes (larger than modern bills)
- 1928-1966: Red seal United States Notes
- 1976-Present: Green seal Federal Reserve Notes
2. Examine the Seal Color
The color of the Treasury seal provides important information about the bill’s type:
- Red Seal: United States Notes (1928-1966) – generally more valuable
- Brown Seal: Treasury/Coin Notes (1890-1891) – very valuable
- Blue Seal: Silver Certificates (1899-1923) – highly collectible
- Green Seal: Federal Reserve Notes (1976-present) – usually worth face value unless they have special features
3. Check the Serial Number
According to the Bureau of Engraving and Printing, serial numbers on $2 bills consist of one letter, eight digits, and one letter (e.g., A12345678B). The first letter indicates which Federal Reserve Bank issued the note. Look for these special serial number types:
- Low Numbers: Serial numbers like 00000001, 00000002, etc.
- Solid Numbers: All the same digit (e.g., 55555555)
- Ladder Notes: Sequential digits (e.g., 12345678)
- Radar/Palindrome Notes: Read the same forward and backward (e.g., 13299231)
- Star Notes: Have a star (★) symbol at the end instead of a letter
4. Look for Printing Errors
Examine your bill carefully for these valuable printing errors:
- Misaligned or missing Treasury seal
- Ink smears or overprints
- Misaligned or double-printed serial numbers
- Inverted backs (the reverse is upside-down relative to the obverse)
- Missing elements or portions of the design
5. Assess the Condition
The condition of your bill significantly impacts its value:
- Uncirculated: No signs of wear, crisp paper, no folds or creases
- About Uncirculated: Minimal handling, possibly one light fold
- Extremely Fine: Minor circulation wear, a few light folds
- Very Fine: Some circulation wear, multiple folds
- Fine: Significant circulation, many folds, some soiling
- Very Good or Good: Heavy circulation, significant wear
Bills in uncirculated condition are worth substantially more than those that show signs of wear and circulation.
What to Do If You Find a Valuable $2 Bill
If you believe you’ve discovered a valuable $2 bill, follow these steps:
- Handle with Care: Use clean hands or cotton gloves, and handle the bill by its edges.
- Store Properly: Place the bill in an acid-free currency sleeve or holder to protect it from damage.
- Research Its Value: Consult reputable currency pricing guides or online resources.
- Get Professional Authentication: For potentially valuable bills, consider having them authenticated by a professional currency grading service such as PCGS Currency or PMG.
- Consider Selling Options:
- Currency dealers
- Auction houses specializing in numismatics
- Online marketplaces like eBay or specialized currency forums
- Currency shows and exhibitions
Official Resources for $2 Bill Information
For authoritative information about $2 bills, consult these official government websites:
- Bureau of Engraving and Printing – Official information about $2 notes
- U.S. Currency Education Program – Educational resources about current U.S. currency
- U.S. Department of the Treasury – The parent department of the Bureau of Engraving and Printing
Frequently Asked Questions
Q: Are $2 bills still being printed and circulated? A: Yes, $2 bills are still produced by the Bureau of Engraving and Printing and remain legal tender, with approximately 1.2 billion currently in circulation.
Q: How can I tell if my $2 bill is a star note? A: Look for a star symbol (★) at the end of the serial number instead of a letter; these are replacement notes printed to substitute for defective bills during production.
Q: Is a red seal $2 bill worth more than a green seal? A: Generally yes, red seal notes (United States Notes issued 1928-1966) are typically more valuable than the green seal Federal Reserve Notes issued since 1976.
Q: What should I do if I think I have a valuable $2 bill? A: Handle it carefully, store it properly, research its potential value, and consider having it professionally authenticated if it appears to be particularly rare or valuable.
Conclusion
While most $2 bills in circulation today are worth only their face value, certain rare specimens can be worth hundreds or even thousands of dollars to collectors. By understanding what makes a $2 bill valuable and knowing how to identify potentially rare specimens, you might discover a hidden treasure in your wallet or coin collection.
Whether you’re an avid currency collector or simply curious about the value of that $2 bill you received as change, the hunt for these elusive valuables can be both educational and potentially rewarding. Remember, though, that all $2 bills—even the common ones—remain legal tender and can be spent anywhere that accepts U.S. currency.
