Currency Experts On the Future of the $2 Bill

April 23, 2015

Charmingly, $2 bills made an interesting cameo earlier this year when International Precious Metals, a dealer of U.S. coins and rare gold and silver, published its Coin Experts Survey. 

“I thought you would be curious to know that I recently interviewed 30 numismatic experts, and 28% of them believe that the $2 bill will be brought back into mass circulation,” said Susan Schwartz, who dropped me a line after she put together the piece. (It’s pretty interesting; you can see the full infographic here.) That percentage was a response to a question asking “experts” which inconspicuous piece of currency we might see in “mass circulation” someday. 

That might sound like a downer, but looking at it another way, the $2 bill received more votes than any other denomination. Yay! (But to look at it the other way again, 44% said that none of the mentioned coins or bills will make a comeback.) 

If you’re thinking to yourself as you look at the above infographic: “Wait a minute; there’s something wrong with that”…well, you’re right. 

First: In terms of “bringing back” the $2 bill — the $2 bill has been in regular production and circulation since 1976 (after a 10-year window in which it wasn’t produced). In the most recent 10-year period, it was produced at least five times. 

Second: The “U.S. Mint” would not bring back a bill, because bills are not “minted” as coins are. Coins are minted, whereas bills are engraved or printed. The $2 bill is produced by the U.S. Bureau of Engraving and Printing, which is part of the U.S. Department of the Treasury

Note this additional piece of misinformation further down the page: “The $2 bill was officially discontinued for mass circulation in 1966, though it is still considered legal tender.” Well, that’s just incorrect. 

Schwartz asked me whether I think the $2 bill will ever be more prominent in our country’s cashflow. I said I didn’t have a reason for realistically believing it would be, but I sure wished it would. 

“If only people used $2 bills like you did, they’d be more commonplace!” she said. Thanks, Susan!