When did they stop making 2 dollar bills? This question often arises among collectors and enthusiasts of American currency. The answer to this question delves into the history of the United States currency and the reasons behind the discontinuation of the $2 bill.
The $2 bill, also known as the “Two-Dollar Silver Certificate,” was first introduced in 1862 during the Civil War. It was initially backed by silver and was used to help finance the war efforts. The bill featured a portrait of Salmon P. Chase, who was the Secretary of the Treasury at the time. Over the years, the design of the $2 bill underwent several changes, with various individuals and symbols gracing its face.
The production of the $2 bill reached its peak during the late 19th and early 20th centuries. However, as the demand for the bill decreased, the government gradually reduced its production. In 1966, the U.S. Treasury decided to discontinue the $2 bill in its silver certificate form. The last silver certificate $2 bill was issued on June 30, 1966.
Following the discontinuation of the silver certificate, the government continued to issue the $2 bill in its Federal Reserve Note form. However, the production of the $2 bill in this form also decreased over time. In 1976, the U.S. Treasury decided to discontinue the $2 bill as a regular circulating note. The last $2 bill was printed on July 31, 1976, and it featured the portrait of Thomas Jefferson.
The reasons behind the discontinuation of the $2 bill were primarily economic. As the demand for the bill decreased, the government found it more cost-effective to produce higher denomination bills, such as the $5 and $10 bills. Additionally, the $2 bill was not widely used in everyday transactions, making it less practical for the government to continue producing it.
Today, the $2 bill remains a popular collectible among currency enthusiasts. Its unique design and historical significance make it a valuable addition to any collection. While the production of the $2 bill has ceased, its legacy continues to be celebrated by those who appreciate the rich history of American currency.
