Can You Still Get $2 Bills From the Bank?
Are $2 bills still in circulation? Learn their current status, production, and how to get them from your bank.
The United States $2 bill, featuring President Thomas Jefferson, often sparks curiosity due to its uncommon appearance in daily transactions. Understanding its current status and how it can be obtained provides clarity regarding this unique denomination.
Current Status and Production
The $2 bill remains active U.S. legal tender, continuously produced by the Bureau of Engraving and Printing (BEP). It is not rare or demonetized, with over $3.2 billion worth in circulation as of December 2023. While accounting for approximately 1% of all circulating currency, the BEP prints new series periodically based on Federal Reserve System demand.
Production occurs less frequently than for other denominations, usually every two to four years or as stockpiles require replenishment. For example, 128 million new $2 bills were printed in fiscal year 2023, following 160 million in fiscal year 2019. The most recent series designation is 2017A, with no current plans for redesign.
Getting Two-Dollar Bills from Banks
You can acquire $2 bills through commercial banks, as they receive these notes from the Federal Reserve. However, individual branches may not keep significant quantities on hand due to low public demand in everyday transactions. This means immediate availability can vary.
To obtain $2 bills, a direct request to a bank teller is most effective. For larger amounts, such as a “strap” containing 100 bills ($200 total), call the bank in advance to ensure they have the desired quantity or can order them. Banks typically fulfill these orders within a few business days, though specific policies and minimum order sizes, such as $200, can differ by institution.
Why They Are Uncommon
The infrequent appearance of $2 bills in daily commerce stems from historical factors and public perception. Many people mistakenly believe the bill has been discontinued, leading them to save any they receive rather than spending them. This hoarding behavior significantly limits their natural circulation.
Historically, the $2 bill faced challenges due to its unique value, often seen as neither a small nor a large denomination. It also developed associations with unsavory activities like bribery or gambling, contributing to its unpopularity. Standard cash register configurations typically lack a designated slot for $2 bills, causing retailers to store them separately and rarely offer them as change.
Beyond Face Value
Most modern $2 bills are worth only their face value, despite common misconceptions about rarity. Their collectible value depends on specific characteristics beyond simply being a $2 bill. Factors like age, condition, and unique printing attributes determine if a bill holds value exceeding $2.
Older bills, especially those issued before 1928 or with specific seal colors like red, brown, or blue, can command higher prices. Uncirculated bills, pristine and never used in transactions, are significantly more valuable than circulated ones. Bills with rare serial numbers, such as very low numbers, “star notes” indicating replacements, or “ladder” and “solid” serial numbers, are highly sought after by collectors.