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Encyclopedia > U.S. two dollar bill
Obverse of $2 bill
Reverse of $2 bill

The United States two dollar bill ($2) is a denomination of U.S. currency. In spite of its relatively low value, the two dollar banknote is one of the most rarely-seen denominations of U.S. currency. Because of its rarity, many Americans remain remarkably superstitious about spending it, which further decreases its circulation. It is so rare that cash registers and other money-handling machinery (such as vending machines) do not accommodate it at all. Many Americans have never held or spent one. There are urban legends that claim some vendors have refused the bill, believing it to be counterfeit. [1] (http://www.snopes.com/humor/business/tacobell.htm) Recently (as of March 2005), an incident of this type has been confirmed—a cashier at a Best Buy store believed a fee paid in 57 $2 bills was counterfeit (supposedly due to ink smearing, which can happen with legal tender) and had the person paying with them arrested and held in custody until a Secret Service agent confirmed the bills were legal tender. [2] (http://www.baltimoresun.com/news/local/bal-md.olesker08mar08,1,76004.column)[3] (http://web.morons.org/article.jsp?sectionid=8&id=6131) US $2 bill, 1995 series (front) source: Bureau of Engraving and Printing Bureau of Engraving and Printing in the United States Department of the Treasury. ... US $2 bill, 1995 series (front) source: Bureau of Engraving and Printing Bureau of Engraving and Printing in the United States Department of the Treasury. ... US $2 bill, 1995 series (reverse) source: Bureau of Engraving and Printing Bureau of Engraving and Printing in the United States Department of the Treasury. ... US $2 bill, 1995 series (reverse) source: Bureau of Engraving and Printing Bureau of Engraving and Printing in the United States Department of the Treasury. ... A denomination is a unit of currency. ... The United States dollar is the official currency of the United States. ... A £20 Ulster Bank banknote. ... Superstition is a set of behaviors that may be faith based, or related to magical thinking, whereby the practitioner believes that the future, or the outcome of certain events, can be influenced by certain of his or her behaviors. ... A cash register is a mechanical or electronic device for calculating and recording sales transactions, and an attached cash drawer for storing currency. ... Soda pop and snack machines A vending machine is a machine that dispenses merchandise when a customer deposits money sufficient to purchase the desired item (as opposed to a shop, where personnel is required for every purchase). ... Urban Legend is also the name of a 1998 movie. ... A counterfeit is an imitation that is made with the intent to deceptively represent its content or origins. ... For alternative meanings, see March (disambiguation). ... 2005 is a common year starting on Saturday of the Gregorian calendar. ... Typical Best Buy store Best Buy Co. ... A counterfeit is an imitation that is made with the intent to deceptively represent its content or origins. ... The United States Secret Service is a United States federal government law enforcement agency that is part of the United States Department of Homeland Security (prior to the founding of that department in 2002, it was under the United States Department of the Treasury). ...


While being handed a two-dollar bill at a storepooppooop (as change, for example) is certainly uncommon, it is not unheard of. It is rumored that two-dollar bills are commonly found at horse-racing tracks, because their minimum bet is typically two dollars. There is a superstition that using an intact bill is unlucky, and to break the curse, the top right corner is ripped off to drain the bad luck from the bill. Many Gentlemen's Clubs across the country give change for larger denominations strictly in two dollar bills, probably in order to raise the average tip given to the dancers that work there. However, the surest way to obtain a two-dollar bill is to go to a bank and ask for one. Some people who are otherwise uninterested in currency nevertheless collect the bills. The essential function of a bank is to provide services related to the storing of value and the extending of credit. ...


Two dollar bills are delivered by Federal Reserve Banks in green straps. Federal Reserve Districts The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches. ...


History

The United States government first officially issued the $2 bill in July 1862 as an United States Note with a portrait of Alexander Hamilton. The next issue of the $2 United States Note in 1869 featured a portrait of Thomas Jefferson painted by American artist Gilbert Stuart. The large-sized (7.375" x 3.125") $2 bill was also issued as a Silver Certificate, Federal Reserve Bank Note, Treasury or Coin Note, and as a National Bank Note. 1862 - Wikipedia /**/ @import /skins/monobook/IE50Fixes. ... United States Notes (also known as Legal Tender Notes because of their payment obligation stating This Note is a Legal Tender) are characterized by a red seal and serial number. ... A portrait of Alexander Hamilton by John Trumbull, 1792. ... 1869 is a common year starting on Friday (link will take you to calendar). ... Order: Third President Vice President: Aaron Burr; George Clinton Term of office: March 4, 1801 – March 3, 1809 Preceded by: John Adams Succeeded by: James Madison Date of birth: April 13, 1743 Place of birth: Shadwell, Virginia Date of death: July 4, 1826 Place of death: Charlottesville, Virginia First Lady... Gilbert Charles Stuart (né Stewart) (December 3, 1755 - July 9, 1828) was an American painter. ...


In 1929, when all U.S. currency was changed to its current size (6.125" x 2.625"), the $2 bill was kept as a United States Note. Notes were issued in series of 1928, 1953, and 1963. The front of the bill featured a cropped version of Thomas Jefferson's portrait that had been on previous $2 bills. The back of the bill featured Jefferson's home, the Monticello. These $2 bills were officially discontinued in August 1966. 1929 was a common year starting on Tuesday (link will take you to calendar). ... United States Notes (also known as Legal Tender Notes because of their payment obligation stating This Note is a Legal Tender) are characterized by a red seal and serial number. ... 1928 was a leap year starting on Sunday (link will take you to calendar). ... 1953 is a common year starting on Thursday. ... 1963 was a common year starting on Tuesday (link will take you to calendar). ... This is about the Jefferson residence. ... 1966 was a common year starting on Saturday (the link is to a full 1966 calendar). ...


In 1976, the Treasury Department reintroduced the bill as a cost-saving measure (http://wcdc42.com/2dollar/economic_reviews.html#cost). As part of the United States Bicentennial celebration, the note was redesigned and issued as a Federal Reserve Note. The front featured the same portrait of Jefferson, a green instead of red seal and serial numbers, and the picture of Monticello on the back was replaced with an engraved rendition of John Trumbull's painting "The Signing of the Declaration of Independence". 590,720,000 notes from the 1976 series were printed. The bills proved extremely unpopular and printing was quickly stopped. 1976 is a leap year starting on Thursday (link will take you to calendar). ... Categories: Stub ... Various Federal Reserve Notes Federal Reserve note is the official name for the kind of banknote used in the United States, more commonly known as dollar bills. ... John Trumbull, 1756–1843 John Trumbull (June 6, 1756 – November 10, 1843), was a famous American artist from the time of the American Revolutionary War. ... U.S. Declaration of Independence The Declaration of Independence is a document in which the Thirteen Colonies declared themselves independent of the Kingdom of Great Britain and explained their justifications for doing so. ... 1976 is a leap year starting on Thursday (link will take you to calendar). ...


Many give as a reason for its failure that its value is redundant, being only twice the value of the $1. However, the fact that the $2 bill (and later coin) succeeded in Canada offers a potential counterpoint to this this. Also, one could have used the redundancy argument to predict that the dime (being worth two nickels) and the $10 (being worth two $5 bills) would likewise be failures, but this has not been the case. A dime is a coin minted by the United States with a denomination of 1/10th of a United States dollar or ten cents. ... The United States five cent coin, commonly called a nickel, is a unit of currency equaling one 1/20th of a United States dollar. ... The old and new ten dollar bill The U.S. ten dollar bill ($10) is a denomination of United States currency. ... The U.S. five dollar bill ($5) is a denomination of United States currency. ...


Other, more colorful, stories about the reasons for its failure exist (http://www.snopes.com/business/money/twodollar.asp).


In 1996 and 1997, 153,600,000 bills were printed [4] (http://www.moneyfactory.com/section.cfm/2/51) as Series 1995 with the signatures of Robert Rubin and Mary Ellen Withrow. In 2004, 121,600,000 of the newest $2 bills, Series 2003, were printed bearing the signatures of John W. Snow and Rosario Marin. Both of these issues have the same design as the Series 1976 $2. 1996 is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... 1997 is a common year starting on Wednesday of the Gregorian calendar, and was designated the International Year of the Reef. ... 1995 was a common year starting on Sunday of the Gregorian calendar. ... Robert R. Rubin Robert Edward Rubin (born August 29, 1938) is an American financier, businessman, and politican who served as the 70th United States Secretary of the Treasury during President Clintons administration. ... Mary Ellen Withrow the was 40th Treasurer of the United States from March 1, 1994 to January 20, 2001 under President Bill Clinton. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... 2003 is a common year starting on Wednesday of the Gregorian calendar. ... John William Snow (born August 2, 1939) is the current and 73rd United States Secretary of the Treasury who replaced departing Secretary Paul ONeill on February 3, 2003. ... Rosario Marin Rosario Marin was the 41st Treasurer of the United States from August 21, 2001 to June 30, 2003 under President George W. Bush. ...


The Two-Dollar Bill in American Consciousness

Where Does a Three Hundred Pound Drunken Sailor Sit? An amusing and perhaps apocryphal story regarding two dollar bills being paid to military servicemen has circulated intermittently in American public consciousness over the years. Unfortunately, the story cannot be verified (and is quite probably false), but the fact that it is constantly retold reflects how Americans view the two dollar bill. And for this reason, it is being retold here. In Judeo-Christian theology, the word apocrypha (Greek απόκρυφα, neuter plural of απόκρυφος, hidden) refers to texts that are not considered canonical, part of the Bible, but are of roughly similar style and age as the accepted Scriptures. ...


The basic premise is as follows: a coastal town somewhere has a business district that, while successful financially, is plagued by uncouth Navy servicemen on shore leave. They come in, make a ruckus, get drunk, and generally upset the town's otherwise quiet atmosphere. The locals, who do not appreciate the intrusion, finally get together and lodge a formal complaint with the Navy.


The Navy, in response, decides to teach the arrogant town a lesson in economics and pays a substantial portion of its servicemen's following months' salary in two dollar bills. When the sailors subsequently descend on the town to spend their wages, the local businesses are inundated with two dollar bills; in fact, they realize that they have more two dollar bills than anything else, which certainly grabs their attention.


The message, of course, is that the Navy servicemen on shore leave might very well be boorish and intrusive, but the money they spend represents the livelihood of the store owners responsible for the letter of complaint. Needless to say, they were more patient with the sailors thenceforth.


The fact that this tactic worked, of course, is entirely a result of the two dollar bill's rarity. One dollar bills or five dollar bills would not have been so readily noticed. Two dollar bills drive the point home; there is no way they can be ignored, given that they are almost never seen.


No Comprendo, Dos Dineros A different story is documented on Snopes (http://www.snopes.com). In the story, a Taco Bell patron attempts to pay for a burrito with a two dollar bill. The cashier, another cashier, and the store manager all refuse to accept it as valid US currency. When the patron insists on paying with it, they call the cops, who, when they arrive, explain that $2 bills are valid US currency.


Worst Buy Just recently (2005 February 20), the above story was replicated (http://yro.slashdot.org/article.pl?sid=05/04/08/2213237&tid=98) by a patron of Best Buy attempting to pay for an electronics installation he had originally been promised would be gratis, with $2 bills. The cashier refused to accept them and marked them as counterfeit. Because of some smearing and sequential serial numbers, the police arrested the customer, whereupon he spent the afternoon in handcuffs until a Secret Service Agent arrived and straightened things out.[5] (http://www.baltimoresun.com/news/local/bal-md.olesker08mar08,1,76004.column?ctrack=1&cset=true) Now the customer—a Mike Bolesta, who kept dozens of the bills on hand for his city tour business—is looking at a major lawsuit.


References

United States currency and coinage
Topics: Federal Reserve note | United States Notes | United States coinage | United States dollar
Currency: $1 | $2 | $5 | $10 | $20 | $50 | $100 | Larger denominations
Coinage: Penny | Nickel | Dime | Quarter | Half-dollar | Dollar


Note that the National Speleological Society annual convention in South Dakota (about 15 years ago) did exactly as your story says the Navy did, so it is a true story. (The National Speleological Society can be contacted at caves.org) BEP Annual Production Figures Categories: U.S. Dept. ... Various Federal Reserve Notes Federal Reserve note is the official name for the kind of banknote used in the United States, more commonly known as dollar bills. ... United States Notes (also known as Legal Tender Notes because of their payment obligation stating This Note is a Legal Tender) are characterized by a red seal and serial number. ... Current US Coinage. ... The United States dollar is the official currency of the United States. ... The U.S. one dollar bill ($1) is a denomination of U.S. currency. ... The U.S. five dollar bill ($5) is a denomination of United States currency. ... The old and new ten dollar bill The U.S. ten dollar bill ($10) is a denomination of United States currency. ... The U.S. twenty dollar bill ($20) is a denomination of United States currency. ... 2004 Federal Reserve note - Obverse 2004 Federal Reserve note - Reverse The U.S. fifty dollar bill ($50) is a denomination of United States currency. ... The U.S. hundred dollar bill ($100) is a denomination of United States currency. ... Today, the currency of the United States, the U.S. dollar, is printed in bills in denominations of $1, $2, $5, $10, $20, $50, and $100. ... The United States one-cent coin, commonly called a penny, is a unit of currency equaling 1/100 of a United States dollar. ... The United States five cent coin, commonly called a nickel, is a unit of currency equaling one 1/20th of a United States dollar. ... A dime is a coin minted by the United States with a denomination of 1/10th of a United States dollar or ten cents. ... The quarter is 1/4th of a United States dollar or 25 cents. ... The Half Dollar of the United States has been produced nearly every year since the inception of the United States Mint in 1793. ... Dollar coins have been minted in the United States in both gold and silver versions. ...


 
 

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