Can You Still Use $2 Bills & Are They Worth Anything?

The $2 bill is a distinctive and often misunderstood U.S. currency denomination. Featuring Thomas Jefferson’s portrait on the obverse and an engraving of the Declaration of Independence on its reverse, it continues to be a part of the nation’s circulating money supply despite its less common presence in daily transactions.

Legal Tender Status and Acceptance

The $2 bill is legal tender in the United States, valid for all debts. This means individuals and businesses are legally obligated to accept it for payment, just as they would any other U.S. currency denomination. While some individuals or merchants may express unfamiliarity or hesitation when presented with a $2 bill, this reaction stems from its less frequent circulation compared to other denominations.

The Bureau of Engraving and Printing continues to produce $2 bills, and the Federal Reserve System distributes them to banks. Despite common beliefs, the $2 bill has never been removed from circulation, though its production was briefly discontinued between 1966 and 1976 due to low demand. Its reintroduction in 1976 solidified its place as a circulating currency.

Common Misconceptions and Actual Value

A widespread misconception suggests the $2 bill is rare or holds significant value beyond its face amount. However, this is untrue for most $2 bills in everyday use. Over $3.2 billion worth of $2 bills were in circulation as of December 2023, with new notes printed regularly (e.g., 128 million in fiscal year 2023).

While the majority of $2 bills are only worth their face value, certain characteristics can increase their collectible worth. Older series dates, particularly those printed before 1976, often hold more value for collectors, with bills from the 19th and early 20th centuries being especially sought after. Uncirculated bills, crisp and free from wear, command higher prices. Additionally, features like star notes, which are replacement bills for printing errors, or those with unique low or fancy serial numbers (e.g., all repeating digits or sequential numbers), can significantly enhance their value.

Obtaining and Circulating $2 Bills

Individuals interested in obtaining $2 bills can do so by requesting them at banks. Banks receive these notes from the Federal Reserve, and while they may not always have a large supply on hand, they can often order them. It is advisable to call ahead to a local branch to inquire about their current inventory or to arrange an order.

Encouraging the use of $2 bills in daily transactions helps maintain their presence in circulation and familiarizes more people with this denomination. They can be used for purposes such as tipping service workers, making small purchases, or as unique gifts. Utilizing $2 bills helps dispel myths about their rarity and promotes their acceptance.