The Unusual History of the $2 Bill

History of the $2 Bill pic
History of the $2 Bill

A pioneer in Ohio foster care, Bruce Maag led the creation of a treatment foster care (TFC) agency that meets the needs of troubled youth. Outside of work, Bruce Maag has a passion for numismatics and enjoys collecting coins and currency of the United States. The rarest current small denomination of U.S. currency is the $2 bill, which has its roots in the Revolutionary War. In 1776, some 49,000 bills of credit valued at $2 were issued toward the defense of the newly conceived American nation.

An actual bill valued at $2 was commissioned in 1862 during the Civil War, and the bill was common until the 1950s, when print runs decreased significantly and collectors began to hoard them. The bill was discontinued completely from 1966 to 1976 and has seen only sporadic production in the decades since. Indeed, in many years the Bureau of Engraving and Printing does not print any $2 bills at all.

Today, many people have the mistaken belief that $2 bills are more valuable than their face value indicates. This is far from the case: like any paper currency, the value of the $2 bill is highly dependent on condition and the year issued.