$2 bills are some of the least common US bills, but a few are more than face. Circumstances like how old the bill is, the state of the bill, and certain features like serial numbers or errors in the print run can send their value into the thousands. In this article here, we are going to examine three of the most important ways to see if your $2 bill is worth more than face value.
Learning the history of $2 bills
The $2 bill has been in use since the 1860s, with some redesigns here and there. The bill first had Alexander Hamilton’s portrait on it, prior to being redesigned to include Thomas Jefferson in 1869. The last change to the design was in 1976, when the back of the bill was redesigned to show the signing of the Declaration of Independence. This makes a difference when determining the worth of older $2 bills.
Three methods to authenticate the worth of your $2 note
1. Serial number and printing mistakes
Distinctive serial numbers dramatically boost the worth of a bill. Low serial numbers, star notes (that feature a star symbol in the serial number), and ladder serial numbers (where numbers rise or fall in sequence) are greatly sought after by collectors. Printing mistakes like double serial numbers or misprints can render a bill scarce and valuable.
The serial number is the whopper. It appears on both sides of the front of the note, usually with a letter preceding the number. “What we see is pretty serial numbers,” an auctioneer said. “A serial number ‘1’ for a 1976 $2 bill would be worth $20,000 or more.” But [to] most people who have 1976 $2 bills, they are simply face value. There are just a few that actually exceed face value.
Additional valuable serial numbers are what people refer to as “solid” or “ladders.” A solid number are numbers that all have the same digit, such as 88888888888, and a ladder number contain digits in a sequential order, such as 12345678910.
For example, a 1976 low serial number $2 bill starting with a number of zeros may cost up to $20,000. Similarly, a star note of the same series might fetch anywhere from $100 to $500 depending on its condition and availability.
2. Age and condition
Older $2 bills, especially those issued in the 1800s, are most wanted by collectors because they are old and rare. The bill’s condition also matters; uncirculated bills are more valuable than circulated ones. For example, an uncirculated 1869 “Rainbow Note” can fetch $500 to $2,500, while a circulated one can fetch a few hundred dollars.
Aside from the flashy serial numbers, the most value will come from the large 1918 and earlier bills. The 1918s are extremely profitable. They sell for $80 to $100 and then they take off from there,” said one auctioneer. “The later ones, the 1920s and beyond, well over 99% are going to be more than face value.”
But it is not quite so simple to state the older the $2 bill, the more valuable it could be, because in addition to when a bill was issued, whether or not a surplus were produced and are currently being circulated can also lead to rarity.
3. Historical significance and design
Historical value and design are also part of the worth of the bill. Alexander Hamilton-series bills, like the 1862 early legal tender notes, are worth what they are for their history. The same goes for the 1890 Treasury Note with General James McPherson, which is highly valuable and worth over $4,500.
For collectors with additional questions regarding the worth of their $2 bill or other collectible denominations, Heritage Auctions provides free online appraisals in which collectors can send photos to their website here.
The $2 bill originated in 1862, and the face of the note features the pictures of, originally, Alexander Hamilton and then, ultimately, Thomas Jefferson. There will likely be more $2 bills printed during the next couple of years as well, however, so Johnston does not recommend keeping today’s $2 bills with the idea of seeing them become valuable decades from now.
A collectors gem
Although the majority of $2 bills are not worth anything over their face value, there are a few special and unique ones that are worth thousands of dollars. By examining your $2 bill’s serial number, age, condition, and historical importance, you may have a treasure in your pocket. Always be sure to consider having your bill professionally appraised by a currency appraiser to see its actual worth.
Short and sweet, the worth of a $2 bill is established by a variety of considerations that make some true finds for collectors and enthusiasts alike. You could be a seasoned collector or merely wondering about the possible worth of your dough; knowing these considerations can enable you to decide if your $2 bill is more than just an unusual denomination—it might be worth some money.
