The $2 bill is one of the rarest denominations of US currency in circulation today. While most $2 bills are only worth face value, some can be worth much more to collectors and dealers. In this article, we’ll look at some of the most valuable $2 bills and what makes them so prized.
Why are some $2 bills valuable?
There are a few key factors that make certain $2 bills more valuable to collectors:
- Age and condition – Older $2 bills in uncirculated or very fine condition are worth more than newer bills in poor condition.
- Low print runs – Some $2 bills had very limited print runs, making them more scarce.
- Interesting serial numbers – Fancy or unusual serial numbers can increase value for collectors.
- Star notes – These are replacement notes often more scarce than regular notes.
- Web notes – Bills with a “web” printing error are highly desired by collectors.
- Silver certificates – These older $2 bills could be redeemed for silver, adding collectibility.
Bills that combine several of these characteristics tend to be the most valued by collectors.
Most Valuable $2 Bills
Here are some of the most expensive and rare $2 bills that have sold at auction or to collectors:
1928 Series Red Seal $2 Bill
This type features a red seal and serial numbers instead of the familiar green. Only about 368,000 were printed, making them highly collectible. Values range from:
- Very Fine Condition – $80 to $120
- Extremely Fine Condition – $150 to $300
- Uncirculated Condition – $600 to $2,500
1928 Hawaii Overprint Note
These were issued when Hawaii was still a U.S. territory. Only 8,000 were printed with “Hawaii” overprinted on them. Values are:
- Fine Condition – $250 to $775
- Very Fine Condition – $650 to $1,750
- Extremely Fine Condition – $2,000 to $4,500
1953 Red Seal $2 Bill
This series also features a red seal and serial numbers. Values range based on condition:
- Crisp Uncirculated – $4 to $6
- Extremely Fine Condition – $25 to $50
- Gem Uncirculated Condition – $100 to $150
1963 $2 Star Note
Any star note from the 1963 series is scarcer than normal. Expect values from:
- Fine Condition – $5 to $10
- Very Fine Condition – $25 to $75
- Uncirculated Condition – $125 to $300
1976 $2 Bill with Mismatched Prefix Letters
A small number of these bills have prefix letters that don’t match. For example, one letter could be from the Atlanta district while the other is from the Boston district. These can sell for up to $2,000 in perfect condition due to the error.
Rare $2 Bills – Special Cases
Here are two extremely rare $2 bills that have sold for huge sums at auction:
The Lucky Angel $2 Bill – $140,000
This unique 1963 $2 star note features an angel holding a peace sign clearly visible in the border next to Washington’s portrait. It sold at auction in 2015.
The Holy Grail $2 Bill – $500,000
Discovered in 2014, this ultra-rare 1918 $2 battleship note is the only one known to exist. It features a scene of the famous WW1 dreadnought battleships on the back. The new 2014 owner paid a record $500,000 at auction.
How to Tell if Your $2 Bill is Valuable
Follow this quick guide to check your $2 bills for rare and valuable features:
- Examine the seal color and series year – Red seals and older series are good signs.
- Check the serial number for anything unusual – Star notes and fancy numbers are better.
- Look for the Hawaii overprint on 1928 series bills.
- Inspect the note’s condition – The better the condition, the higher the value.
- Watch for mismatched prefix letters on 1976 bills.
You can also show your $2 bills to a professional currency dealer for an expert opinion on value. Now go check your wallet for that money you socked away years ago – you may be in for a pleasant surprise!
Selling Rare $2 Bills
If you believe you have a highly valuable $2 bill, here are some tips for selling it:
- Have the bill professionally appraised and graded – This confirms the bill’s condition, rarity, and value for potential buyers.
- Sell through a reputable auction house – Major houses like Heritage Auctions or Stack’s Bowers can help you get global bidding on your rare bill.
- Sell to a specialized currency dealer – They routinely trade in rare paper money and can quickly pay fair values.
- Consider consigning to a major currency show – This exposes your bill to many serious collectors and dealers looking for treasures.
- Sell through a secure online currency exchange – Services like Collectors.com enable safe transactions with vetted buyers.
With proper authentication, grading, and expert selling advice, you can realize the maximum value from your rare $2 find.
The Future Value of $2 Bills
While no one can predict the future value of $2 bills with certainty, we can look at some factors that may affect prices:
- Limited supply – The Federal Reserve currently prints $2 bills in small batches for collector demand. This scarcity helps support values.
- Numismatic interest – Paper money collecting has been rising steadily, which bodes well for $2 bill values.
- Premium on rarity – As with coins, truly scarce $2 bills command huge premiums likely to rise.
- Cultural significance – The $2 bill has nostalgic appeal, and this interest tends to preserve value.
- Threat of redesign – Any overhaul of the $2 bill’s design could negatively impact values of older notes.
Barring a major change in production or demand, most rare $2 bills likely have sizable room for appreciation over the coming decades. Buying the right notes in great condition seems like a solid investment for the patient collector.
Fun Facts About $2 Bills
- About 1% of currency produced today by the U.S. Treasury are $2 bills.
- The portrait on the $2 bill is Thomas Jefferson, the 3rd U.S. president.
- The reverse depicts the signing of the Declaration of Independence.
- As of 2022, there is an estimated $1.6 billion worth of $2 bills in circulation worldwide.
- The Federal Reserve stores over half a billion $2 bills in its vaults.
- North Carolina ordered over 8 million $2 bills in 2020 to support local economies during Covid.
- A stack of $2 bills totaling $1 million would be over 20 feet tall!
Why the $2 Bill Isn’t More Popular
Given their relative rarity and collector’s appeal, you may wonder why the $2 bill isn’t more widely used. Here are some reasons it has faded from popular circulation:
- Lack of public awareness – Many don’t realize the $2 bill is still in production.
- Lack of distribution – Banks do not regularly order $2 bills from the Federal Reserve.
- Perceived scarcity – Some wrongly think the $2 is no longer being made, adding to scarcity.
- Lack of practical use – Not accepted by many vending machines or toll booths.
- Unnecessary denomination – The $1 bill fills the small-change role just fine.
While the $2 bill remains legal tender, most Americans go their whole lives without using one. This adds to its novelty and fuels collector demand when scarce notes do surface.
History of the $2 Bill
Here is a brief timeline of the history of the $2 bill in America:
- March 25, 1862 – The first $2 bill issued, featuring Alexander Hamilton.
- 1869 – The design changed to focus on Thomas Jefferson.
- 1886 – The scalloped red floral design introduced that lasted until 1966.
- 1966 – The familiar bald eagle reverse design debuts.
- 1976 – The current design with Jefferson on the front is released on the bicentennial.
- 1996 – A new series with advanced anti-counterfeiting features begins issue.
- 2003 – A new $2 bill series design is introduced with more color & enhanced security.
- 2013 – The $2 bill receives a new series of updated anti-counterfeiting features.
While less common today, the $2 bill remains a fascinating part of American history and collectibles.
Famous People on the $2 Bill
Here are some quick facts about the famous statesmen depicted on the front and back of the $2 bill:
Thomas Jefferson (Front)
- 3rd President of the United States from 1801 to 1809
- Primary author of the Declaration of Independence
- Helped establish the University of Virginia and Library of Congress
- Commissioned the Lewis & Clark Expedition of 1804
John Trumbull (Back Painting)
- American painter during the Revolutionary War period
- His famous painting “Declaration of Independence” depicts the drafting document’s presentation
- Served as a soldier under George Washington early in the war
- Went on to paint many Revolutionary War figures and events
John Adams, Roger Sherman, Robert Livingston (Back Figures)
These three men were part of the five-member committee that drafted the Declaration of Independence text. They later became influential leaders in the early United States government.
Conclusion
While most old $2 bills are worth only face value, some can be extremely valuable due to low print runs, condition, errors, and other factors attractive to collectors. Red seal notes, star notes, and other scarce bills can potentially sell for many times face value. However, condition is critical – bills that are heavily worn or damaged have little to no collectible premium. With so few $2 notes in circulation, be sure to closely inspect any you come across! You never know when a small cash find may turn out to be a big winner.