Manic Monday - two

Mo's word for today is TWO.

Look what I found out about the TWO-dollar bill...

The United States two-dollar bill ($2) is a current denomination of U.S. currency. Did you know this?

Former U.S. President Thomas Jefferson is featured on the obverse of the note. The painting The Declaration of Independence by John Trumbull is featured on the reverse. The design on the obverse (excluding the elements of a Federal Reserve Note) is the oldest design of current U.S. currency, having been adopted in 1929; the reverse is the second oldest design, having been adopted in 1976.

The two-dollar bill is one of the most rarely seen in circulation and actual use. They are almost never given as change for commercial transactions, and thus consumers rarely have them on hand.
Production of the note is quite low; approximately 1% of all notes currently produced are $2 bills. This comparative scarcity in circulation has led to an overall lack of public knowledge of the $2 bill and has also inspired urban legends and folk beliefs concerning it.

In 1976 use of the two-dollar denomination was resumed as part of the United States bicentennial ($2.00 is equal to two hundred cents) and the two-dollar bill was finally assigned as a Federal Reserve Note, with a new design on the back.

When the current note was first issued in 1976, it was met with general curiosity, and was seen as a collectible, not as a piece of regularly circulating currency, which the Treasury intended it to be. The main reason it failed to circulate was that businesses never really requested them as part of their normal operations to give back out in change. This failure is linked to the gradual disappearance of the former $2 United States Notes.

Today, there is a common misconception that the $2 bill is no longer in circulation. According to the Treasury, they "receive many letters asking why the $2 bill is no longer in circulation". In response, the Treasury states: "The $2 bill remains one of our circulating currency denominations. According to B.E.P. statistics, 590,720,000 Series 1976 $2 bills were printed and as of February 28, 1999, there was $1,166,091,458 worth of $2 bills in circulation worldwide." However, "in circulation" does not necessarily mean that the notes are actively circulated, only that this is the amount that hasn't been redeemed for shredding. The Treasury states that the best way for the $2 bill to circulate is if businesses use them as they would any other denomination.

$2.00 bill 1862 Legal Tender


Obverse of the famous 1896 $2 "Educational Series" Silver Certificate

The artwork on the note is an allegorical figure of science presenting steam and electricity to commerce and manufacture.

Here are some stories about the TWO-dollar bil:

Taco Bell

In a story, documented on Snopes.com, a Taco Bell patron attempted to pay for a burrito with a two-dollar bill. The cashier and the store manager both refused to accept it as valid U.S. currency, believing that there was no such thing as a two-dollar bill.

Best Buy

In February of 2005, a patron of Best Buy attempted to pay for an electronics installation with 57 $2 bills. The cashier refused to accept them and marked them as counterfeit. The cashier then called the police, and the patron was handcuffed until a U.S. Treasury Agent arrived to clear up the issue.

Most current $2 bills are not collectible!

Sharing information about Two-Dollar Bills with the World

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