$2 Bills Could Now Be Worth Thousands of Dollars in Washington

Last week, the United States Department of the Treasury minted its last penny ever.

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This is not the first time the Treasury has stopped creating a certain kind of currency.

Why Washington Residents Should Check Their $2 Bills

While not commonly seen in circulation, the $2 bill is still legal currency in the United States. The federal government printed the first $2 currency in 1862, which featured a portrait of founding father Alexander Hamilton. The first use of the third U.S. President, Thomas Jefferson, on $2 bills came in 1869 with United States Notes.

Production continued until 1966. The $2 bill was then discontinued until 1976, when it was reissued as a Federal Reserve Note with a new design.

Today, $2 bills are still printed, though in much smaller quantities. If you happen to come across one in Washington, or have some stashed away, take a closer look. They could be worth significantly more than just $2.

The Rarest $2 Bills Turning Up in Washington

According to Bank Rate, while most $2 bills are in fact just $2, there are certain editions that are worth significantly more due to their rarity, historical significance, or printing errors, including:

• 1862 and 1869 legal tender notes: These are the earliest $2 bills in existence. They feature Hamilton on the front instead of the more common Thomas Jefferson. These notes are in high demand because collectors value their limited availability. These notes can be worth anywhere from a few hundred to a few thousand dollars, depending on condition.
• 1890 $2 Treasury Note: According to U.S. currency auctions, the General James McPherson featured $2 bill from 1890 is worth upwards of $4,500. It could be worth even more if it's in perfect condition.
• 1928 red seal notes: The 1928 $2 bill featured Thomas Jefferson's home, Monticello. Unlike most editions, it displayed a red seal rather than a green one. They are the earliest modern $2 bill series. Circulated bills can fetch $5 to $175, but uncirculated bills in pristine condition can be worth between several hundred to over $1,000.
• 1853 and 1963 red seal notes: Not quite as valuable as the older brother, these bills are still collectible. They could get you between $5 and $20.
• 1976 bicentennial $2 bills: The 1976 $2 bill was released to celebrate the U.S. bicentennial, and while most of them are only worth face value, some with special serial numbers, misprints, stamps, or star notes can be worth much more. The rarest is a $2 bill from this year with a serial number of 12345678, otherwise known as a ladder note. These could be worth thousands at auction.

Where Washington Collectors Get Free Appraisals

If you have a $2 bill you believe is valuable, there is a free and easy way to find the value.

Just visit Heritage Auctions online and upload images of your money. They will provide free appraisals.