4 Reasons You Should Not Spend Your Rare $2 Bills

Sometimes called lucky, sometimes suspected as fake, the $2 bill, with its iconic depiction of Thomas Jefferson on the front and the signing of the Declaration of Independence on the back, has long been a curiosity when it comes to American currency and sorting through your cash.

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Collectors Could Pay You Much More Than $2 Sometimes It Makes Sense To Be Sentimental It Wouldn’t Make an Economic Impact $2 Have Limited Future Print Runs

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The $2 bill has been in circulation, in various designs, since 1862, and while it is rarer than other dollars in your pocket, you can spend it like any other bill. Despite the novelty of it, you may or may not want to keep some of them in your stash as some are quite collectible and valuable.

Here are four reasons why you shouldn’t spend your $2 bills.

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Collectors Could Pay You Much More Than $2

While most $2 bills are worth their face value, of well, $2, certain older bills or bills with unique serial numbers might fetch a premium among collectors. Here are some rare bills that could fetch you a lot of paper:

1862 and 1869 legal tender notes: These are the earliest $2 bills and feature a portrait of Alexander Hamilton (which was later replaced by Jefferson)
1890 $2 Treasury Note: An 1890 $2 Treasury Note featuring General James McPherson can be worth thousands so double check you’re not using it to tip your delivery driver, unless you were hoping to be very generous.
1928 red seal notes: The 1928 $2 bill was the first to feature Thomas Jefferson’s home, Monticello, displayed with a red seal rather than a green one.
1976 bicentennial $2 bills: This $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 hundreds of dollars.

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Sometimes It Makes Sense To Be Sentimental

Many people have received $2 bills as gifts, keepsakes, tips or tokens of good luck. If your bill has sentimental value, you might be more inclined to keep it for its personal significance rather than its monetary worth.

Good luck can be hard to come by in this economy, so though handing over a $2 bill often leads to stories, questions and sometimes even debates about its legitimacy as currency, it may be worth keeping in your pocket next to your rabbit foot if you don’t need to spend it.

It Wouldn’t Make an Economic Impact

Keeping $2 bills out of circulation doesn’t have a significant economic impact, but reintroducing them into the economy can increase their familiarity, acceptance and dare say it, their intrigue. However, the more they circulate, the less “novel” they become, which could lower the value of the rare ones you have in your collection.

While $2 bills are legal tender and accepted everywhere, some cashiers might be unfamiliar with them or hesitant to accept them due to their rarity in daily transactions. Or worse, keep the money, fearing it to be counterfeit and not wanting it to circulate. This would impact your economic state by minus $2.

$2 Have Limited Future Print Runs

The U.S. Treasury still prints $2 bills, though in limited quantities compared to other denominations. While there’s no imminent danger of the bill being discontinued, fewer print runs might enhance its novelty status in the future. If you view them as a unique piece of American history or a sentimental keepsake, you might opt to save rather than spend them.

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