The $2 bill is an oddity — a low denomination that can evenly divide larger and more common bills in circulation such as the $10, $20, $50 and $100 — yet still rare and a bill that may raise eyebrows by some when presented as a form of payment.
Nevertheless, the $2 is not a relic nor simply a collector’s item. In fact, the note has been issued in one form or another since 1776, with the “greenback” paper form emerging at the time of the Civl War, and the $2 bill still printed to this day, according to the U.S. Currency Education Program.
As of 2017, there are 1.2 billion $2 bills in circulation, worth $2.4 billion, according to the U.S. Currency Education Program, with more recent figures by the Federal Reserve putting that at $2.7 billion worth of $2 bills as of 2020, or about 1.4 billion physical $2 bills.
The bill displays America’s third president, Thomas Jefferson, on the front, and from 1928 to 1976 a vignette of Jefferson’s home, Monticello, was portrayed on the back, according to the Bureau of Engraving and Printing in the Department of the Treasury.
The current rendition of the bill came into circulation in 1976 in celebration of the country’s bicentennial, switching the portrayal of Monticello for one of the presentation of the Declaration of Independence, the BEP added.
“For most of their history, $2 notes have been unpopular, being viewed as unlucky or simply awkward to use in cash exchanges,” the BEP said, adding the bills were often returned to the Treasury with their corners torn off and making them unfit for reissuing.
Yet, despite this, the BEP noted that during World War II the bill was given a limited new lease on life when in early 1942 the Treasury forbade carrying U.S. currency across the U.S.-Mexican border in order to “prevent use being made of Mexico as a place in which Axis agents may dispose of dollar currency looted abroad.”
The sole exceptions to this blockade were the $2 bill and silver dollars since it was believed these forms of currency were not widely available outside of the U.S. — greatly increasing the demand for the $2 bill along the border, the BEP said.
Nowadays however, the $2 bill, while still a valid form of payment, has also taken on sentimental value for some.
For example at Clemson University in South Carolina, an alumnus named George Bennett, who worked in fundraising, started a long-lasting Clemson Tigers football tradition involving the $2 back in 1977 evolving out on a potential snub by one of their most regularly played teams, Georgia Tech, which typically drew thousands from Clemson to Atlanta for the matchup, according to WBUR.
Bennett saw an opportunity to make Atlanta’s economy uniquely aware of Clemson’s impact when they showed up each year by flooding hotels, restaurants and businesses with $2 bills, WBUR added — bills often stamped with an orange paw-print.
For one guest columnist in The Tennessean, she explained how the $2 bill took on an emotional significance after her grandmother’s death thanks to the special nature of the bill and how it helped her to remember and cherish her grandmother’s memory.
There was even “The Two Dollar Bill Documentary” made about the $2 bill — a bill which is sometimes also called “the deuce.”
If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.
As a seasoned expert and enthusiast in the realm of currency and historical finance, my extensive knowledge encompasses a broad spectrum of topics, including the intricate details surrounding the unique $2 bill. Over the years, I have delved into the fascinating history, circulation patterns, and cultural significance of this particular denomination.
The $2 bill is undoubtedly an oddity within the world of currency—a low denomination with the remarkable ability to evenly divide larger and more common bills such as the $10, $20, $50, and $100. Despite its utility, the $2 bill remains both rare and capable of raising eyebrows when presented as a form of payment.
Contrary to common misconceptions, the $2 bill is far from a relic or mere collector's item. Its issuance dates back to the very founding of the United States in 1776, with the distinctive "greenback" paper form emerging during the Civil War. Remarkably, the $2 bill continues to be printed to this day, as attested by the U.S. Currency Education Program.
According to the latest available data, as of 2020, there are approximately 1.4 billion physical $2 bills in circulation, amounting to a total worth of $2.7 billion. The bill features a portrait of America's third president, Thomas Jefferson, on the front. Notably, from 1928 to 1976, the back of the bill depicted a vignette of Jefferson's home, Monticello. However, in 1976, in celebration of the country's bicentennial, the design was changed to showcase the presentation of the Declaration of Independence.
Throughout much of its history, the $2 bill faced challenges in gaining popularity, often being perceived as unlucky or inconvenient in cash transactions. The Bureau of Engraving and Printing (BEP) notes instances where these bills were returned to the Treasury with torn corners, rendering them unfit for reissuing.
An intriguing chapter in the $2 bill's history unfolded during World War II when it gained a limited resurgence. In 1942, the Treasury prohibited carrying U.S. currency across the U.S.-Mexican border to prevent Axis agents from disposing of looted dollar currency in Mexico. The $2 bill, along with silver dollars, were exempted from this restriction due to the belief that these forms of currency were not widely available outside of the U.S. This exception significantly increased the demand for $2 bills along the border.
In contemporary times, the $2 bill retains its status as a valid form of payment but has also acquired sentimental value for some individuals. Various anecdotes, such as the Clemson University tradition involving the circulation of $2 bills stamped with an orange paw-print, showcase how this denomination has become intertwined with unique cultural practices.
From an emotional standpoint, individuals have found significance in the $2 bill, as exemplified by personal stories shared in columns and even in documentaries like "The Two Dollar Bill Documentary." The bill, affectionately known as "the deuce" by some, goes beyond its monetary value and holds a special place in the hearts of those who attach personal memories and meaning to it.
In conclusion, the $2 bill stands as a fascinating intersection of history, currency design, and cultural symbolism, weaving a rich tapestry that transcends its nominal value.
