What Is a Two Dollar Bill Worth?

The United States two-dollar bill, featuring President Thomas Jefferson, holds a distinct place among U.S. currency. It first entered circulation in 1862 as a Legal Tender Note, depicting Alexander Hamilton before Jefferson’s portrait became standard. Despite its long history and continued printing, many people mistakenly believe this denomination is rare or no longer in production, leading to its infrequent use in daily transactions. While over $3.2 billion worth of $2 bills circulate currently, most are only worth their face value. Certain characteristics, however, can elevate a standard $2 bill into a valuable collectible item.

Factors Determining Value

A bill’s physical condition significantly influences its market value. Numismatic grading terms, such as “Crisp Uncirculated (CU),” describe a note in perfect, untouched condition, while “About Uncirculated (AU)” indicates minimal handling. Even minor imperfections like slight creases, folds, or corner rounding can reduce a bill’s worth, as collectors highly prize pristine examples. The presence of tears, holes, stains, or discoloration will drastically diminish a note’s appeal and market price.

Older two-dollar bills command higher values due to their scarcity and historical significance. Bills printed before 1976 are more desirable, with early issues from 1862 or 1869 fetching hundreds to thousands of dollars. The color of the Treasury seal can also be an indicator; red seals, prevalent on Legal Tender Notes from 1928-1966, are more sought after than the green seals found on modern Federal Reserve Notes.

A star symbol () next to the serial number identifies a “star note,” which is a replacement printed to substitute a misprinted or damaged bill during the manufacturing process. These replacement notes are produced in much smaller quantities than regular bills, making them inherently rarer and more valuable to collectors. For example, an uncirculated 1976 star note can be valued anywhere from $20 to $100.

Unique serial numbers contribute to a bill’s collectibility. “Fancy” serial numbers include patterns like those with multiple leading zeros (e.g., 00000001), solid numbers where all digits are the same (e.g., 77777777), or sequential numbers forming a “ladder” (e.g., 12345678). Radar notes, which read identically forwards and backward, are another example of these prized patterns. Printing errors, though rare, such as misaligned impressions, ink smears, or missing elements, can also significantly increase a bill’s value for collectors.

Identifying Potentially Valuable Bills

To begin assessing a two-dollar bill’s potential value, locate the series date on the front, positioned near the lower right corner of the bill. Bills issued before 1976 are more appealing to collectors, with those from the 1800s being sought after. Additionally, note the color of the Treasury seal; bills with red, brown, or blue seals from 1862 through 1917 indicate a higher value.

Next, examine the serial number, which appears twice on the bill’s front. Look for a small star symbol () at the end of the serial number; this indicates a replacement “star note.” The star matches the color of the serial numbers.

Carefully inspect the eleven-digit serial number for any distinctive patterns. Look for low serial numbers, such as those beginning with several zeros (e.g., 00000005). Other patterns include “solid” numbers where all digits are identical, “radar” notes that read the same in both directions, or “ladder” notes featuring sequential numbers like 12345678.

Perform a preliminary visual assessment of the bill’s overall condition. Observe the crispness of the paper, checking for any folds, creases, tears, or stains. A bill that appears uncirculated, with sharp corners and no significant signs of handling or wear, will command a higher value. This initial evaluation helps determine if further professional assessment is a worthwhile step.

Professional Assessment and Valuation

When a preliminary inspection suggests a two-dollar bill might be worth more than its face value due to an older series date, a star note designation, unique serial numbers, or pristine condition, seeking professional assistance is a wise next step. This expert evaluation confirms the bill’s authenticity and provides an accurate market valuation, which is important for valuable items.

Reliable sources for obtaining a numismatic appraisal include specialized coin and currency dealers, professional grading services, and established numismatic societies. Many of these entities offer initial online appraisals, where individuals can submit photographs or an inventory list for review. While some services may provide free preliminary assessments, others might charge a fee, ranging from $10 for a single note to around $50 for a group of up to twenty notes.

Professional grading services, such as Paper Money Guaranty (PMG) or PCGS Banknote Grading, authenticate banknotes and assign them a numerical grade based on a 70-point scale. These services often encapsulate the graded note in a secure, transparent holder. Independent grading is important for establishing a bill’s market value and fostering buyer confidence, especially for rare or valuable specimens.

Options for selling a valuable two-dollar bill include consigning it to reputable auction houses specializing in paper money, selling directly to established coin and currency dealers, or listing it on online marketplaces dedicated to collectibles. Auction houses charge a commission on the sale, whereas dealers may offer immediate payment. Maintaining the bill’s condition in a protective sleeve is advisable if a sale is being considered.