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The $2 bill is arguably the most controversial US currency of all time. One of the rarest and least use denomination, the $2 bill’s obverse illustration of Thomas Jefferson, adopted in 1929, is the oldest design of all US paper currencies today, whereas, The Declaration of Independence drawing, featured on its reverse, was designed in 1976.

It could be that the reason why the $2 bill is so scarce today is because it’s the least circulated currency in history, currently running at a 1% float! The $2 bill was first introduced in 1862, and in 1966, a century later, its production was stopped following the discontinuation of the United States Notes, which was the currency class it was assigned to at that time. Unlike the rest of the denominations, the $2 bill did not make the reassignment to the Federal Reserve Note class of the United States, largely due to its lack of popularity back then. Its demise was however short lived. The $2 bill made a comeback in 1976, as part of the bicentennial, and was finally inducted into the Federal Reserve Note class.

Most $2 bills in circulation today are from the 1976 series, with the newer bills printed as and when needed. It is said that the demand for the $2 bill is so low that a single batch of prints will last for years. Its perceived rarity is said to be largely due to the lack of public knowledge of the currency and its even more sporadic printing. Its almost never traded in commercial transactions, even as change, and this led to a greater propensity to store any $2 bills encountered, which over time resulted in its decline.

The $2 bill was also, initially, only assigned to a single class currency, the United States Note, which had a statutory limit of, $346,861,016, in circulation at any given time. This class was later passed on to the $5 bill and here was where the imminent doom of the $2 bill began, completely seizing its production in 1966.

Even after the reintroduction of the $2 bill in 1976, it didn’t garner enough interest amongst businesses to generate potential increase in circulation, although, it was greeted with adequate curiosity and was primarily seen as a collectible.

These days, contrary to a widespread fallacy that the currency is no longer in use, the $2 bill continues to strive in proving its worth as a tradable currency and is slowly working its way back into the hearts of the masses. The only way to achieve this feat, according to the US Treasury, is for businesses to use them as they would any other denomination and for banks to stop shunning them out.

Given all that, surprisingly enough, in 2005 alone, 61 million $2 bills were printed, a steep and significant surge since 1990. Could this be an indication that the $2 bill is here to stay, or will it continue to inspire more urban legends and myths and someday disappear again into oblivion, as it did once before. What’s your take on it?

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Have you ever seen a $5,000 bill up close? If you are like most people, probably not. Back in 1969, the circulation of the 1945 series of bills in denominations over $100 was stopped. These bills were printed as Federal Reserve notes only between 1918 and 1945. Even though you may never get to touch one of these rare bills, it is interesting to hear about them. Take a look at these facts on the larger denomination paper currency that is no longer in circulation.

These are the faces printed on these bills:

$500 William McKinley
$1,000 Grover Cleveland
$5,000 James Madison
$10,000 Salmon P. Chase
$100,000 Woodrow Wilson

There are different images printed on the backs of these old bills as well. On the $500 large sized, blue seal Federal Reserve note, there was an image of DeSoto Discovering the Mississippi in 1541. On the back of the blue seal 1918 series $1,000 bill, there is an image of an eagle. On the green seal $5,000 bill, there is an image of Washington Resigning his Commission. There is an image of The Embarkation of the Pilgrims on the green seal $10,000 bill (series 1918).

The series 1934 $100,000 bill simply said, “The United States of America -100,000- One Hundred Thousand Dollars” on the back. This was a gold certificate that was never released for general circulation. It is not legal for collectors to possess this bill. It was also the only one of these bills that was printed red on the back.

These bill denominations were discontinued simply because they were not used very often. These bills are no longer available from the government. Those few that still remain in existence are in the hands of those individuals who collect rare currency.

You can see images of these bills on the Bureau of Printing and Engraving Website: www.moneyfactory.gov.

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