Many people are surprised to receive a two-dollar bill as change, or perhaps find one tucked away in an old wallet. This often leads to the question: Are Two Dollar Bills Still Printed? The answer is yes, the two-dollar bill is indeed still in production by the United States Bureau of Engraving and Printing (BEP). While they are not as commonly seen in everyday transactions as one, five, or ten-dollar bills, the $2 bill remains a valid and circulating denomination of US currency. In fact, you might be surprised to learn about the interesting history and potential value these uncommon bills hold.
The History and Design of the $2 Bill
The two-dollar bill has a long history in the United States, dating back to 1862 when the denomination was first authorized. Initially, these bills featured a portrait of Alexander Hamilton, the first Secretary of the Treasury. However, in 1869, a redesign shifted the portrait to Thomas Jefferson, the third President of the United States. This portrait of Jefferson remains on the face of the modern $2 bill. The reverse side of the bill has also seen changes over time. Early versions featured various vignettes, but the current design, adopted in 1976, depicts John Trumbull’s painting “Declaration of Independence.” This iconic image adds to the unique character of the $2 bill, setting it apart from other denominations.
Are $2 Bills Still in Production Today?
Despite their infrequent appearance in daily commerce, the BEP continues to print two-dollar bills. According to a CNN report, the BEP planned to print as many as 204 million $2 bills in 2022. This demonstrates that the Treasury Department anticipates ongoing demand for this denomination. Furthermore, data from the Federal Reserve indicates a substantial number of these bills are already in circulation. In 2020, there were approximately 1.4 billion two-dollar bills actively circulating within the economy. The reasons for continuing production, even if in smaller quantities compared to other denominations, likely include maintaining a diverse range of currency options and fulfilling specific demands from banks and the public.
The Value of Two Dollar Bills: Beyond Face Value
While most two-dollar bills in circulation are worth exactly their face value of $2, there’s a fascinating aspect to consider: collectible value. Certain older two-dollar bills, particularly those printed before 1976, can be worth significantly more than two dollars on the collectors’ market. Factors that influence the value of a $2 bill include its age, condition, and specific series. For example, uncirculated $2 bills from the 19th century, especially those from 1890, can fetch prices ranging from hundreds to thousands of dollars. Even more recent bills, like uncirculated notes from 1995 or the 2003 premium Federal Reserve set, can command values well above face value, sometimes reaching hundreds of dollars.
Conclusion: Two Dollar Bills in Circulation and Collectible
In conclusion, to directly answer the question “are two dollar bills still printed?”, the answer is a definitive yes. The two-dollar bill is not a relic of the past but a currently produced denomination of United States currency. While you may not encounter them as often as other bills, they are out there, circulating and being printed. Moreover, beyond their face value, certain two-dollar bills hold numismatic value, making them interesting collectibles. So, the next time you come across a $2 bill, take a closer look – it might be worth more than you think, or simply a piece of uncommon American currency history still very much in use today.
