The year 1862 saw the United States print the two-dollar note for the first time. Strangely, the paper was not well received by the American public, nor did it bring about major modifications in the economy. What is certain is that there are some that are more valuable than others, such as the one with the bright red ink of the US Treasury Department. It must be underlined that the ones which were issues were close to twice as large as the ones we see these days, and it was not until 1928 that the size of the paper money was reduced. This paper money from the 1965 series exemplifies the portrait of Thomas Jefferson on the obverse, designed by Charles Bert. The reverse shows the residence of the former President of the United States, called Monticello, which was engraved by Joachim C. Benzing. By the time the year 1928, the red seal was ubicated on the left and was modified to the right in 1953.
The truth is that two-dollar notes are not at these moment welcomed in many shops, due to if they used to be considered a ‘curse’ they are at these moment classified as ‘counterfeits’. Nevertheless, there is one type that is the most sought after by numismatists: those with a red stamp, which were issued among 1928 and 1966.
What the red-stamped two-dollar note looks like
This paper money from the 1965 series features a portrait of Thomas Jefferson on the obverse, designed by Charles Bert. The reverse shows the residence of the former President of the United States, called Monticello, which was engraved by Joachim C. Benzing. During the year 1928, the red seal was located on the left and was modified to the right in 1953.
Since 1975, two-dollar Federal Reserve notes were issued, so the Treasury seal was changed to green, in order to maintain a difference with the previously issued notes.
Types of two-dollar banknotes
Although not very popular, this paper money is sought after by thousands of collectors. It has a short but significant series to collect. If you collect only one of each banknote issued since 1928, these would be the series:
- With red stamp: from 1928-G, 1953-G and 1963-A.
- Green stamped: 1976, 1995, 2003-A, 2009 and 2013.
The issue is that each time a modifications was made to the design of the two-dollar note, a new series was issued, so that among 2 and 146 million banknotes were printed. In addition, from 1910 onwards, special banknotes were authorised to be printed with a star at the end of the serial number. These banknotes are therefore stranger than the standard banknotes. These are changes that have to be taken into account for the value of these banknotes.
This is the value of the paper money: it can be sold for 12,000 dolars
Even though they are not commonly sold at auctions for exorbitant prices, the two-dollar notes with red stamps and stars are the most sought after by collectors. There are several series that are much higher in value than the rest, but it all depends on many factors such as the year and serial number. The two-dollar 1928-E with star in uncirculated condition can be sold for 12,000 dollars. The 1928-B with star in very good condition can sell for up to 20,000 dollars. In the mean time, the 1928 with star in circulated but very good condition can fetch up to $1,500.
The amount that is currently in circulation
According to information from the U.S. Currency Education Program, in 2017 it was estimated that about 1.2 billion two-dollar notes were in circulation. This means that around 2.4 billion dollars were in circulation at that time. By 2022, however, the number of two-dollar notes will have increased to 1.5 billion. It can be seen that this is a remarkable variation in the different amounts that were in circulation.
