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 large 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 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 ( 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.
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