Expert: Ronald Fern - 8/17/2011

Question
i have a red stamp 2.00 bill, series of 1928 g, was wondering why it is different from the others different design on back...signatures are georgia ? (tres. of u.s) and john snyder (sec. of tres.)......do these hold different value or are they a novelty item

Answer
Hi Tammy:

Thanks for the opportunity to answer your question.

Your note is not unusual or rare. In circulated grades the note has very little collector value maybe in the $2-$7 dollar range.

From wikipedia: "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. The note's seal and serial numbers were red. The Series of 1928 $2 bill featured the treasury seal superimposed by the United States Note obligation to the left and a large gray TWO to the right.

In 1953 the $2 bill received design changes analogous to the $5 United States Note. The treasury seal was made smaller and moved to the right side of the bill; it was superimposed over the gray word TWO. The United States Note obligation now became superimposed over a gray numeral 2. The reverse remained unchanged.

The final change to $2 United States Notes came in 1963 when the motto IN GOD WE TRUST was added to the reverse over the Monticello. Because dollar bills were soon to no longer be redeemable in silver, WILL PAY TO THE BEARER ON DEMAND was removed from the obverse. These $2 bills were officially discontinued in August 1966."

For values, see: http://www.coinsite.com/html/uspapermoneyprices(sm).asp   

Bills are printed in sheets of 32 notes and in three phases. The back is printed first and taken to a drying room. Next the front is printed and then allowed to dry. Last, the serial numbers and Treasury shield are printed in an overprint press. They then are cut and put into bundles of 100. Though errors are unusual, quality control at the Bureau of Engraving stops most errors from reaching the public. With billions of notes printed each year, inevitably errors are missed and find their way to the numismatic market and ultimately to collectors.

For more information, see: http://www.madehow.com/Volume-3/Paper-Currency.html

Link for history of the $2 bill: http://en.wikipedia.org/wiki/United_States_two-dollar_bill

You may want to check US coins and currency listings on eBay from time to time to see if your notes are listed what these type of items may bring.

If you live close to a local shop, they should offer an opinion as to the value and if it is authentic at no charge. Remember, should you choose to sell your notes, get at least two estimates from professional coin dealers (PNG). I've listed a link for you to find them in your area. Link: http://www.pngdealers.com/dealersearch.php

Dealers normally pay between 50% to 60% of retail for items they want. In an auction, you can set the price, and potentially get more.

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Thank You and Good Luck in your collecting.