Megan Brooks
$2 bills, also known as Tom because they feature Thomas Jefferson's portrait, are still in circulation and occasionally printed. They are generally available at most banks and can be ordered from the Federal Reserve Bank. However, due to their limited use, they are not handed out unless specifically requested by the customer. The misconception that $2 bills are no longer in production persists, though they have been printed since 1862, except for a 10-year hiatus between 1966 and 1976.
| Characteristics | Values |
|---|---|
| Still in circulation | Yes |
| Still being printed | Yes |
| Available at most banks | Yes |
| Given out by banks | Only upon specific request |
| Used in vending machines, self-checkout lanes, transit systems, ATMs and other automated kiosks | Yes |
| Legal tender | Yes |
| Used as a keepsake | Yes |
| Used for bribing, election rigging, gambling and prostitution | Yes |
| Used by Clemson University fans | Yes |
| Used in strip clubs | Yes |
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What You'll Learn
$2 bills are still printed and circulated
Due to their limited use, $2 bills are not printed as frequently as other denominations, which are produced according to demand. They are generally available at most banks but are usually only given out upon specific request by the customer. Banks may need to order the desired amount if they do not have enough $2 bills at the branch. The misconception that the $2 bill is no longer in production persists, but it has been printed since 1862, with a 10-year hiatus between 1966 and 1976.
The scarcity of $2 bills in circulation has contributed to low public awareness that they are still being printed and has inspired urban legends and misinformation. For example, the $2 bill has been linked to bribery, election rigging, gambling, and prostitution. Despite this, $2 bills are legal tender and are accepted in most places, including vending machines, self-checkout lanes, and ATMs.
Some people specifically request $2 bills from banks for various reasons. For instance, Clemson University fans use them to show their economic impact when travelling to away games. Others may collect them or use them for special occasions, such as tipping or giving money to children for Christmas. Although $2 bills are not as common as other denominations, they are still printed and circulated and can be obtained from most banks upon request.
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Banks can order $2 bills from the Federal Reserve
$2 bills are still in circulation in the US, although they are not as commonly used as other denominations. They are usually available at most banks, but banks do not usually give them out unless specifically requested by a customer. This is because businesses' banking policies do not rely on $2 bills, so fewer are produced and they are less frequently printed compared to other denominations.
The $2 bill was first issued in 1862 as a Legal Tender Note. It was issued as a United States Note, a National Bank Note, a Silver Certificate, a Treasury or "Coin" Note, and a Federal Reserve Bank Note. In 1928, when U.S. currency was redesigned and reduced to its current size, the $2 bill was issued only as a United States Note. Production continued until 1966, when United States Notes were phased out, and the $2 denomination was discontinued until 1976, when it was reissued as a Federal Reserve Note, with a new reverse design. The obverse design of the $2 bill is the oldest of all current US currency.
The Federal Reserve Board currently issues $2 notes, and local banks can order them from the Federal Reserve Bank if they do not have any in their inventory. The Federal Reserve Bank distributes Federal Reserve notes to the public through depository institutions, and the notes are sent through high-speed sorting machines to ensure they are genuine and fit for commerce. If the notes are deemed suspect counterfeits, they are forwarded to the local U.S. Secret Service field office. If they are genuine and still in good condition, they are sent to depository institutions to fill orders for currency.
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$2 bills are uncommon and may cause confusion
The history of the $2 bill also contributes to its uncommon status. Between 1966 and 1976, there was a 10-year hiatus in its production, which further reinforced the notion that it was no longer in use. Additionally, businesses' banking policies often do not rely on $2 bills, reducing their demand and circulation.
The rarity of $2 bills has led to their association with certain beliefs and practices. For example, they have been linked to bribery, election rigging, gambling, and prostitution. In some cases, they are even considered bad luck. These associations might make recipients suspicious or hesitant to accept them.
Furthermore, $2 bills are sometimes sought as novelty items or collectibles rather than for their monetary value. They may be requested for special occasions, tipping, or as souvenirs. Some people even order large quantities for unique purposes, such as stocking ATMs in strip clubs.
The uncommon nature of $2 bills can also cause confusion for recipients who are unfamiliar with their design and features. This confusion may lead to concerns about counterfeiting, especially with older bills that predate 1960, as newer counterfeit detection methods may not work on them.
While $2 bills are still legal tender and can be obtained from banks, their rarity and the surrounding misconceptions contribute to the potential confusion they may cause in everyday transactions.
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$2 bills are sometimes used to send a message
$2 bills are still available and can be obtained from banks in the US. However, due to their limited use, they are not printed as frequently as other denominations and are usually only given out upon specific request. This has led to a common misconception that they are no longer being produced, as well as urban legends and misinformation about $2 bills.
Despite this, $2 bills are sometimes used to send a message. Due to their uncommon use, spending them can make the spender more visible. For example, in 1989, Geneva Steel paid its employees' bonuses in $2 bills. As these bills began to circulate more widely, people recognised the importance of the company to the local economy. Similarly, fans and alumni of Clemson University often bring $2 notes with them when travelling to university athletic events in other localities, demonstrating their economic impact in the area.
Another example of $2 bills being used to send a message is when the National Institutes of Health (NIH) mailed $2 bills to thousands of Americans as an incentive to complete a national survey about HIV vaccines. According to the letter, this money was a "token of appreciation", and people could keep it even if they decided not to take part in the survey. This strategy was chosen because recent research has shown that this type of incentive is more effective and cheaper.
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$2 bills are available from some banks upon request
$2 bills are still in circulation in the US, although they are not as commonly used as other denominations. They are usually available from most banks, but customers may need to specifically request them.
The $2 bill has an interesting history, having been issued as a United States Note, a National Bank Note, a Silver Certificate, a Treasury or "Coin" Note, and a Federal Reserve Bank Note. Production was discontinued in 1966, but resumed in 1976, and the bill has been in circulation ever since.
Due to their limited use, $2 bills are not printed as frequently as other denominations. Most bill acceptors in vending machines, self-checkout lanes, transit systems, ATMs, and other automated kiosks can accommodate $2 bills, even if it is not stated on the device.
Some people may specifically request $2 bills from banks for special occasions or as gifts, while others may use them to make a statement or send a message. For example, in 1977, Clemson University's Athletic Fundraising Organization urged fans to use $2 bills when travelling to an away football game to show the impact on the local economy. To this day, some Clemson fans still use $2 bills when travelling to away games.
Overall, while $2 bills may not be commonly used in everyday transactions, they are still available from some banks upon request and continue to hold a unique place in American currency and culture.
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Frequently asked questions
Yes, $2 bills are still in circulation and are occasionally printed. They have been printed since 1862, except for a 10-year hiatus between 1966 and 1976.
Due to their limited use, $2 bills are not printed as frequently as other denominations, which are produced according to demand. Fewer $2 bills are produced, so they circulate much less than other denominations of US currency.
Although $2 notes are generally available at most banks, they are usually only given out upon specific request by the customer. You may need to ask your bank to order them from the Federal Reserve Bank.
