Today, the general public is still largely unfamiliar with the notes because they are not widely circulated and continue to be frequently hoarded. #2 DOLLAR BILL SERIAL NUMBER LOOKUP VALUE SERIES#Many people believe that the 1976 series note with its unusual reverse design was a special, limited issue produced for the United States Bicentennial this, combined with the earlier discontinuation of the denomination, gave the impression these notes might be valuable as collector's items, and contributed to hoarding. During World War II and later, US Servicemen were frequently paid with $2 bills, and as a result the notes often saw use at canteens, USO clubs, post exchanges and commissaries. In the middle of the 20th century, $2 bills were often used for betting on horse racing, tips at strip clubs and for bribery when politicians wanted votes (though this is most likely an urban legend), and so acquired a negative reputation. During the Great Depression, few Americans had enough money to require $2 notes. ![]() Printing $2 bills is twice as cost-effective for the government as printing $1 notes, since they both cost the same amount (6.2 cents per bill) to manufacture, but the public has not circulated them as widely. Although they are generally available at most banks, two-dollar notes are usually not handed out except upon specific request by the customer, and may require the teller to make a trip to the vault, or order the desired amount if none are present at the branch. Most bill acceptors found in vending machines, self checkout lanes, transit systems and other automated kiosks are configured to accommodate two-dollar bills, even if the fact is not stated on the label. ![]() However, due to their limited use, two-dollar notes are not printed as frequently in a new series as other denominations, which are produced according to demand. It was estimated at the time that if two-dollar notes replaced approximately half of the one-dollar notes in circulation, the federal government would be able to save about $26 million in 1976 dollars ($118 million adjusted for inflation) over the period from 1976 to 1981, due to reduced production, storage, and shipping costs. The two-dollar note has remained a current denomination of U.S. Production of the two-dollar denomination was resumed in December, 1975 and the two-dollar bill was finally reissued in the spring of 1976 as a Federal Reserve Note with a new reverse design featuring John Trumbull's depiction of the drafting of the United States Declaration of Independence, replacing the previous design of Monticello. The Treasury cited the two-dollar note's low use as the reason for not immediately resuming use of the denomination. While the $5 denomination had been issued simultaneously as a Federal Reserve Note, a United States Note and a silver certificate, the $2 denomination was not immediately reassigned to the Federal Reserve Note class of United States currency and was thus fully discontinued. In August 1966, the Treasury Department discontinued production of the $2 and $5 denominations of United States Notes. currency the two-dollar bill was assigned to. The denomination was continuously used until 1966 by this time the United States Note was the only remaining class of U.S. The denomination of two dollars was authorized under a congressional act, and first issued in March 1862. The apparent scarcity of the $2 bill, in spite of its production figures, also means that large numbers of the notes are taken out of circulation and collected by many people who believe the bill to be rarer than it actually is. This comparative scarcity in circulation, coupled with a lack of public knowledge that the bill is still in production and circulation, has also inspired urban legends about its authenticity and value and has occasionally created problems for those trying to use the bill to make purchases. Production continued until 1966, when United States Notes were phased out and the $2 denomination discontinued until 1976 when it was reissued as a Federal Reserve Note with a new reverse design.Īs a result of banking policies with businesses that have resulted in low production numbers due to lack of use, two-dollar bills do not circulate as well as other denominations of U.S. ![]() currency was changed to its current size, the $2 bill was issued only as a United States Note. Throughout the $2 bill's pre-1929 life as a large-sized note, it was issued as a United States Note, National Bank Note, silver certificate, Treasury or "Coin" Note and Federal Reserve Bank Note. 1818 painting Declaration of Independence by John Trumbull. ![]() The reverse features an engraving of the c. A portrait of Thomas Jefferson, the third president of the United States (1801–1809), is featured on the obverse of the note. The United States two-dollar bill ($2) is a current denomination of United States currency.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |