Are $2 Bills Still Printed and Are They Rare?

The United States two-dollar bill holds a distinctive place within American currency, often sparking curiosity and questions about its authenticity and value due to its infrequent appearance in daily transactions. This unique note, featuring Thomas Jefferson, has a rich history and continues to be part of the nation’s monetary system. Understanding its current status and characteristics can clarify common misconceptions.

Current Production and Legal Status

The $2 bill is still printed by the Bureau of Engraving and Printing (BEP) and remains valid legal tender in the United States. Despite popular belief, it has not been discontinued. Over $3.2 billion worth of $2 bills are in circulation, a figure that has shown consistent growth. The BEP regularly prints new $2 bills. The most recent series of the $2 bill carries the 2017A designation, confirming its active status.

Reasons for Low Circulation

The infrequent appearance of $2 bills in commerce stems from several factors, rather than a lack of production. Public perception and historical misconceptions play a significant role, as many individuals mistakenly believe the note is rare or no longer produced, leading them to save it rather than spend it. This behavior contributes to its scarcity in circulation.

Additionally, the design of many cash registers does not include a dedicated slot for $2 bills, which can discourage businesses from using them. Early in its history, the $2 bill also developed an unfavorable reputation, sometimes associated with specific transactions like political bribes or gambling, which contributed to its low demand.

Acquiring and Using $2 Bills

Individuals interested in obtaining $2 bills can acquire them from their local bank or financial institution. While banks may not always have large quantities on hand, they can order them from the Federal Reserve. It is advisable to call ahead to check availability or place an order.

Once acquired, the $2 bill functions as legitimate legal tender for all transactions, public and private. Despite their legal status, some merchants or members of the public may be unfamiliar with the denomination and express hesitation in accepting them.

Understanding Their Value

For most $2 bills encountered in everyday circulation, their value remains their face amount. However, certain characteristics can significantly increase a $2 bill’s monetary worth to collectors.

Older notes, particularly those issued before 1928, are generally more valuable due to their historical significance and limited availability. The condition of the bill is paramount, with uncirculated notes fetching higher prices than those showing signs of wear. Special features such as red seals and “star notes,” which are replacement bills indicated by a star in their serial number, also enhance collector value.

Additionally, unique serial numbers can make a $2 bill highly sought after. These include:
Very low numbers
Solid numbers (all digits the same)
Ladder notes (sequential numbers)
Radar notes (read the same forwards and backward)
Printing errors, though rare, can also render a bill significantly more valuable to numismatists.