The Treasury cited low usage of the two-dollar bill 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, thus was fully discontinued. In August 1966, the Treasury Department discontinued production of the $2 and $5 denominations of United States Notes. currency to which the two-dollar bill was assigned. Denomination overview Īuthorized under an act by the United States Congress, the first two-dollar bill was issued in March 1862 and the denomination was continuously used until 1966 by that time, the United States Note was the only remaining class of U.S. The apparent scarcity of the $2 bill, in spite of its production figures, also indicates that significant numbers of the notes are removed from circulation and collected by many people who believe the bill to be rarer and more valuable than it actually is. This comparative scarcity in circulation, coupled with a somewhat surprising lack of public knowledge that the bill is still being printed has also inspired several urban legends about its authenticity, rarity and value and has occasionally created problems for those trying to use $2 bills to make purchases. Production continued until 1966 ( 1967), when United States Notes were phased out, and the $2 denomination was 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 widely as other denominations of U.S. currency was changed to its current size in 1928, the $2 bill was redesigned and 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.

The reverse features an engraving of the circa 1818 painting Declaration of Independence by John Trumbull. 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. JSTOR ( November 2018) ( Learn how and when to remove this template message)ġ55.95 = 6.14 in mmĦ6.29 = 2.61 in mmġ862–1966, 1976–present ( Federal Reserve Note, current form).Unsourced material may be challenged and removed.įind sources: 'United States two-dollar bill' – news Please help improve this article by adding citations to reliable sources. This article needs additional citations for verification.

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