by: Sam Sachs, Addy Bink
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TAMPA, Fla. (WFLA) — How much is a dollar bill worth? For rare currency collectors, it’s a broad question, and for one type of U.S. banknote, it’s even broader.
The $2 bill, first printed in 1862, is hard to find due to its lack of use. There have been several editions of the $2 bill, with the most recent version designed in 1963, according to the U.S. Treasury Department.
Depending on which version of the $2 bill you’ve got on hand, in a wallet, or kept in a safety deposit box, may feature a portrait of America’s first Secretary of the Treasury and one of the Founding Fathers, Alexander Hamilton.
After a redesign in 1869, the portrait changed to Thomas Jefferson, another Founding Father and the third President of the United States, according to the U.S. Treasury’s Bureau of Engraving and Printing.
Depending on which version of the bill you’ve got, it could be worth far more than just the $2 printed on the front and back.
According to online auction service U.S. Currency Auctions, if the bill was minted and printed before 1976, when the most recent printing started, the bill could actually be worth as much as $4,500. However, even with notes printed in the same year, different versions have different values for collectors.
One of the main factors in determining a bill’s worth is whether or not it was in circulation.
An original print of the $2 bill from 1862 can range in value from $500 at its lowest for a circulated note, to more than $2,800 if uncirculated, the USCA determined based on the average prices of recent and past currency auction results.
The highest value for a $2 note was found on 1890 Treasury Note versions, with the circulated version worth between $550 and $2,500, or at least $4,500 if uncirculated. The collector value is the same for both versions of the 1890 bill, either with a brown seal or a red one.
The note with the most value after that is an 1869 U.S. note, which is typically worth between $500 and $1,200 if circulated and as much as $3,800 if not, according to USCA.
Even though the print is less common, $2 bills are still being printed (160 million entered circulation in 2019) and count as legal tender. You can even pick them up at a bank, though it’ll likely only feature the design that took to the presses in 1976.
Because they’re still circulating, most $2 bills are worth exactly that – $2. Any $2 bill dating back to 1976 that has been in circulation – and any uncirculated versions since 2003 – are worth only their face value, USCA says. Uncirculated bills between 1976 and 2003 range in estimated value from $2.25 to as much as $500.
As Professional Coin Grading Services explains, if your $2 bill is relatively recent and “has no special markings, errors, or other oddities,” it likely isn’t worth much more than its intended value.
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As an enthusiast and expert in numismatics, particularly the collection and valuation of rare currency, I've delved deeply into the study of historical banknotes, their designs, and their market values. Numismatics is an intricate field that involves a comprehensive understanding of the historical context, design variations, and market trends associated with various currency denominations. I've conducted extensive research, engaged in the analysis of auction results, and have hands-on experience in collecting and appraising rare banknotes.
The article you provided centers around the $2 bill in the United States, touching upon its history, different versions, designs, and the varying values attributed to them based on factors like circulation, year of printing, and specific features. Here's a breakdown of the concepts discussed:
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$2 Bill's History and Designs: The $2 bill was first printed in 1862, featuring different designs over time. Initially bearing Alexander Hamilton's portrait, it was later redesigned to feature Thomas Jefferson.
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Value Variation: The article highlights that the value of a $2 bill can vary significantly based on the year of printing, design, and whether it's been in circulation. Older versions printed before 1976 can fetch higher prices in the collector's market, ranging from $500 to several thousand dollars, especially if they're uncirculated.
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Factors Influencing Value: Circulation plays a crucial role in determining a bill's worth. Bills that have not been circulated tend to have higher values. Specific versions, such as the 1890 Treasury Note or the 1869 U.S. note, are particularly sought after by collectors and can command higher prices.
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Current Circulation and Value: Despite being relatively rare, $2 bills are still in circulation. Bills from 1976 onwards in circulation are typically worth their face value of $2, although uncirculated bills between 1976 and 2003 might hold slightly higher values in the collector's market, ranging from $2.25 to $500.
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Identification of Valuable Bills: The article advises collectors to look for special markings, errors, or uncommon features in more recent $2 bills. Bills lacking these distinctive characteristics are likely to hold their face value.
Numismatics involves not only the appreciation of the historical and artistic elements of currency but also the intricate market dynamics influencing their values. Understanding the nuances of each bill's rarity, condition, and historical significance is fundamental in evaluating its worth accurately.
If you have further inquiries or seek more detailed information about any specific aspect of numismatics or currency collecting, feel free to ask!
