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The United States two-dollar bill ($2) is a current denomination of U.S. currency. Former U.S. President Thomas Jefferson is featured on the obverse of the note. The painting The Declaration of Independence by John Trumbull is featured on the reverse. more...

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The design on the obverse (excluding the elements of a Federal Reserve Note) is the oldest of all current U.S. currency having been adopted in 1929; the reverse is the second oldest design having been adopted in 1976.

In spite of its relatively low value amongst denominations of U.S. currency, the two-dollar bill is one of the most rarely seen in circulation and actual use. They are almost never given as change for commercial transactions, and thus consumers rarely have them on hand. Indeed, many cash register drawers have slots for ones, fives, tens, and twenties, but not twos. Production of the note is quite low; approximately 1% of all notes currently produced are $2 bills. This comparative scarcity in circulation has led to an overall lack of public knowledge of the $2 bill and has also inspired urban legends and folk beliefs concerning it.

Throughout the $2 bill's pre-1928 life as a large-sized note, it was issued as a United States Note, Silver Certificate, Treasury or "Coin" Note, and a Federal Reserve Bank Note. When U.S. currency was changed to its current size, the $2 bill was issued only as a United States Note. After United States Notes were discontinued, the $2 bill later began to be issued as a Federal Reserve Note.

Denomination overview

The denomination of two dollars was first used by the United States federal government in July 1862. The denomination was continuously used until 1966 when the only class of U.S. currency it was then assigned to, United States Notes, began to be discontinued. The $2 bill initially wasn't reassigned to the Federal Reserve Note class of United States currency and was thus discontinued; the Treasury Department cited the $2 bill's low use and unpopularity as the reason for not resuming use of the denomination. In 1976 use of the two-dollar denomination was resumed as part of the United States bicentennial ($2.00 is equal to two hundred cents) and the two-dollar bill was finally assigned as a Federal Reserve Note, with a new design on the back featuring John Trumbull's depiction of the drafting of the United States Declaration of Independence replacing the previous design of Monticello. It has remained a current denomination since then, although the vast majority of $2 bills in circulation today are from the 1976 series, with newer bills being inserted into the money supply as needed.

Today, two-dollar bills are not frequently reissued in a new series like other denominations which are printed according to demand. When the Federal Reserve Banking System runs low on its current supply of $2 bills, it will submit an order to the Bureau of Engraving and Printing, which will then print more. Demand for $2 bills is low enough that one printing can last for many years.

Read more at Wikipedia.org