Comments and Tags

Physical description This two dollar United States note was issued in 1953 by the US Treasury, and features the traditional portrait of Thomas Jefferson on the obverse side, while the reverse side shows his famous residence Monticello. The note bears the signatures of the Treasurer Ivy Baker Priest and the Secretary of the Treasury George M. Humphrey. Contrasted to earlier versions of the two dollar note which were larger than current note sizes, this 1953 version measures 6.14 x 2.61 in or 156 x 66 mm. Historical background Of particular notice is the distinct red color of the seal and serial number, in contrast to the currently more widely used green color on the Federal Reserve notes. At the time of the first serial issue of this two dollar bill in 1928, using a red seal and serial number differentiated this legal tender note from gold and silver certificates which can be recognized by a blue seal and serial number. United States Notes or Legal Tender Notes such as this one were first issued in 1862 by the Treasury in order to pay the immense expenses of the Union in the Civil War. Issued without the backing of gold, bank deposits, or government reserves, these notes stand in contrast to gold and silver certificates, and the Federal Reserve Notes which were backed by the assets of the Federal Reserve Bank. Printing of these United States Notes were discontinued in 1971 as Federal Reserve Notes, which were first created in 1918 with the authorization of the Federal Reserve Act of 1913, took over as the only note being printed. Usage of the two dollar bill has always been uncommon and circulation relatively scarce. It has thus often caused confusion when in transactions. Timothy Lin, 5/5/2020


Collection Tier:
Tier 2

Exchange Media ➔ Two Dollar Bill

Identifier:
2017.1.108
Description:
This two dollar United States note was issued in 1953 by the US Treasury, and features the traditional portrait of Thomas Jefferson on the obverse side, while the reverse side shows his famous residence Monticello. The note bears the signatures of the Treasurer Ivy Baker Priest and the Secretary of the Treasury George M. Humphrey. Contrasted to earlier versions of the two dollar note which were larger than current note sizes, this 1953 version measures 6.14 x 2.61 in or 156 x 66 mm. Historical background Of particular notice is the distinct red color of the seal and serial number, in contrast to the currently more widely used green color on the Federal Reserve notes. At the time of the first serial issue of this two dollar bill in 1928, using a red seal and serial number differentiated this legal tender note from gold and silver certificates which can be recognized by a blue seal and serial number. United States Notes or Legal Tender Notes such as this one were first issued in 1862 by the Treasury in order to pay the immense expenses of the Union in the Civil War. Issued without the backing of gold, bank deposits, or government reserves, these notes stand in contrast to gold and silver certificates, and the Federal Reserve Notes which were backed by the assets of the Federal Reserve Bank. Printing of these United States Notes were discontinued in 1971 as Federal Reserve Notes, which were first created in 1918 with the authorization of the Federal Reserve Act of 1913, took over as the only note being printed. Usage of the two dollar bill has always been uncommon and circulation relatively scarce. It has thus often caused confusion when in transactions.
Description written by Timothy Lin, Calvin University, Michigan
Date:
1953
Current Location Status:
In Storage