The two-dollar bill is a current denomination of United States currency. Due to its rarity, the note is often assumed to be fake, however is completely legal tender.
Is the two-dollar bill real?
Make no mistake – the two-dollar bill is 100% real US currency. It’s legal tender and has been in circulation since 1862. Because it’s so rarely seen, many people assume it’s fake, but the opposite is true.
The Continental Congress first issued the note in March 1862 under the Legal Tender Act, but the history of the two-dollar bill precedes America itself.
Early two-dollar notes appeared in 1775 as continentals – paper currency with little to no backing, making their value negligible. They were issued by the Continental Congress during the Revolutionary War, just days before the Declaration of Independence.
After its formal issuance in March 1862, the bill continued to be produced until it was halted by the Federal Reserve in 1966 due to a decline in practical use. The bill would not see the light of day until its production was resumed in 1975, with reissuance following on April 13, 1976, which happens to be Thomas Jefferson’s birthday.
Over its lifetime, the bill has appeared in five distinct forms:
- United States note
- Federal Reserve Bank note
- National Bank note
- Silver Certificate
- Treasury note
Despite its many variations, it remains uncommon in circulation, but rest assured, any $2 bill you come across is completely valid and spendable.
Who is on the two-dollar bill?
Thomas Jefferson, the third president of the United States, is the face on the obverse of the two-dollar bill. He was the primary author of the Declaration of Independence, the document depicted on the bill’s reverse side.
Jefferson’s legacy as a Founding Father made him a natural fit, but he wasn’t the first face on the bill.
Jefferson’s portrait first appeared on the bill in 1869. Before that, Alexander Hamilton (the first US Secretary of the Treasury) was featured, and the reverse side displayed only geometric designs.
The front has remained consistent since 1869, but the back has evolved across three distinct eras.
- From 1869 to 1928, the reverse featured a vignette of the US Capitol, a design used until just before the Great Depression.
- From 1928 to 1976, the back displayed Monticello, Jefferson’s home, a direct tribute to his legacy.
- Since 1976, the reverse has featured John Trumbull’s painting The Declaration of Independence, added in celebration of America’s bicentennial.
The obverse design of the $2 bill is the oldest of all current US currency. Today, the two-dollar bill remains the only US note featuring a historic painting, a fitting tribute to one of the most pivotal moments in American history.
Why is the two-dollar bill so rare?
The two-dollar bill isn’t nearly as rare as people think. It’s still printed by the Bureau of Engraving and Printing at the request of the Federal Reserve, but far less frequently than other denominations.
Its rarity in daily life comes down to a few key reasons:
- Most businesses don’t rely on them, so demand stays low
- Banks rarely order them for regular circulation
- Many people treat them as collectables and hold onto them
- They’re not often used in everyday transactions, so they don’t recirculate
Despite this, the numbers tell a different story. In 2007, the US Treasury reported $1.5 billion in two-dollar bills circulating worldwide. By 2022, that figure had risen to $3 billion, which is still a tiny slice of the $2.2 trillion currently in circulation.
That print-on-demand schedule, combined with hoarding and low usage, keeps the bill rare in the public sector, even though it’s quietly out there.
What makes two-dollar bills even more elusive is infrastructure. Bill acceptors in vending machines, self-checkout lanes, transit systems, ATMs, and other kiosks are designed to accept $2 bills, but they’re almost never stocked with them.
Essentially, the bill’s perceived scarcity comes down to demand and infrastructure, not availability. The system doesn’t surface them like it does $1s, $5s, or $20s.
Are two-dollar bills worth keeping?
Let’s be honest: money is money. A two-dollar bill is still just worth two dollars, in most cases.
Granted, depending on the age and circulation status of your two-dollar bill, you may be able to fetch a nice price. Two-dollar bills are uncommon, but not truly rare, and value depends on how unique your iteration is.
Specific uncirculated two-dollar notes from 1862-1917 have been sold for up to $1,000, and some uncirculated notes from 1890 have fetched as much as $4,500.
Valuable two-dollar bill iterations to look out for include:
- Red seals (pre-1963)
- Uncirculated 1976 bills in official envelopes
- Star notes (notes with a star after the serial number)
- Low serial numbers (00000001, etc.)
- Unique printing errors
That said, plenty of people still hang onto $2 bills for personal reasons:
- Symbolic or sentimental reasons
- Good fortune or nostalgia
- Gifting or a casual collectable
They’re worth holding onto, as all US currency is legal tender, no matter when it was issued, but don’t expect to retire on one.
Can you get two-dollar bills from the bank?
Two-dollar bills are available at most local banks in the US, but due to low demand, you’ll likely have to request them in advance.
Banks can place an order with the Federal Reserve whenever needed. They’re not widely circulated, but they’re absolutely attainable.
They’re not a “special order” currency, so no ID or paperwork is required. The process is just as straightforward as requesting any other denomination.
You can also find two-dollar bills through coin dealers, collectors, and online resellers, though they may charge a premium, even if the bill isn’t technically rare.
Auction sites like eBay and Heritage Auctions list them regularly, often at boosted prices, or occasionally much lower. And then there’s the old-fashioned way: you get one as a tip, a birthday surprise, or a random cashier decision.
7 quick facts about the two-dollar bill
Here are some quick facts about the elusive two-dollar bill.
When was the two-dollar bill first issued?
1862, during the Civil War, under the Legal Tender Act.
Who is on the two-dollar bill?
Thomas Jefferson, the third US president and the primary author of the Declaration of Independence.
What’s on the back of the two-dollar bill?
John Trumbull’s painting The Declaration of Independence, added in 1976 for the US Bicentennial.
Why hasn’t the $2 bill design changed since 1976?
Because it’s rarely counterfeited. The US government redesigns notes to deter fraud, and the $2 note doesn’t pose a threat.
Is the two-dollar bill still printed today?
Yes, but only occasionally, and only by request from the Federal Reserve.
How many $2 bills are in circulation?
As of 2022, about $3 billion worth of two-dollar bills are in circulation, which is a small portion of the $2.2 trillion in total US currency.
Is the $2 bill the oldest current US design?
Yes, the obverse (front) design is the oldest still in use on any US currency.
