Tell me when was the last time that you have seen or used a $2 bill? I’m sure that many of you did not encounter this mystic bank note for a long time. We all know that this denomination is very unpopular from the day it was printed for the first time.
However, that might be a great opportunity for people who like to collect paper money. Most $2 bills are kept in very good condition, considering they are rarely used, some even never. Naturally, this will make you think about how valuable these collectibles can be.
So let’s not waste any more time. In this article, you will learn all about the 1928 2 dollar bill value and origin. If this sounds like something you are very interested in, read on.
Throwback To Two-Dollar Bill History
We already talked so many times about why a $2 bill is one of the most uncommon US denominations. The main reason was impracticality since back in the day it was considered a large bill. Most Americans earned only tens of dollars per month so using a $2 bill was a big problem for them.
Also, people were superstition. For instance, in the 1920s people thought that the $2 bill was cursed and that it was a jinx if you receive it. Many casinos and racetracks refused to accept them.
However, what most people don’t know is that there have been several different types of $2 bills. This list includes the following:
- Legal Tender Notes,
- National Banknotes,
- Silver Certificates,
- Treasury or Coin Notes,
- Federal Reserve Bank Notes.
The design of each type was different but the most popular and sought after are the red seal $2 bills. Large size notes usually carried ornate designs and various portraits of presidents, war heroes, inventors, and other important public figures.
Keep in mind that some of the most popular and collectible notes are the 1875 $2 Lazy Deuce and the 1896 $2 Educational Notes.
Why are $2 red seal notes so popular?
A $2 Red Seal note was issued in the United States between 1928 and 1966, and these are very sought after among collectors nowadays. You will recognize them easily. On the front of the bill, you will notice a portrait of Thomas Jefferson. While the back side of the banknote features his home, Monticello. The 1963 series has the additional motto “IN GOD WE TRUST” on the back of the note just above the engraving of Monticello.
The treasury seal on these notes is bright red. Now there is a trick to help you recognize the real deal. The banknote from 1928 has a seal on the left side of the note, while the 1953 note has a seal on the right side.
In early 1975 two-dollar Federal Reserve Notes were issued but with a small change, the seal is colored green to differentiate from the Legal Tender Notes previously issued. The front of the note remains the same. However, the reverse side was changed to the signing of the Declaration of Independence.
Most Valuable 1928 $2 Bills
There are several varieties of the 1928 $2 banknote, which goes from 1928A through G, which impacts the value. This means there are 8 different varieties of this banknote and each has its own value and demand.
Regular 1928 $2 banknotes
- Series 1928 – This was the first printed series. Surprisingly is worth the least amount of money. The total number of printed banknotes is 55,889,424. Depending on the condition the price range goes from $3 to $5 for a poor condition; $10 to $25 for a good condition; $30 to $40 for an uncirculated bill.
- Series 1928A – These are more rare and valuable simply because the printing amount was lower and it is 46,859,136. Depending on the condition the price range goes from $4 to $6 for a poor condition; $20 to $30 for a good condition; $40 to $60 for an uncirculated bill.
- Series 1928B – There were only 9 million printed bills in this series so the value is a bit higher. Value based upon condition is from $10 to $15 for a poor condition; $25 to $50 for a good condition; $75 to $125 for an uncirculated bill.
- Series 1928C – This series is very common considering it has the second-highest print run. The total print number was 86,584,008. The price range depending on the condition is $4 to $5 for a poor condition; from $12 to $25 for a good condition; $30 to $40 for an uncirculated bill.
- Series 1928D – The D series is the most common series. There were 146,381,364 of them printed. The price range for these bills depends on the condition and it goes from $2 to $4 for a poor condition; $6 to $10 for a good condition; $15 to $18 for an uncirculated bill.
- Series 1928E – This series has the lowest number of bills printed, only 5,261,016. However, collectors aren’t interested in this series so the price value is low. You can expect to get from $4 to $5 for a poor condition; $10 to $15 for a good condition; $16 to $25 for an uncirculated bill.
- Series 1928F – F series has a high print number of 43,349,292. These bills aren’t worth much. For a poor condition bill, you can get from $4 to $5; $10 to $12 for a good condition; $15 to $30 for an uncirculated bill.
- Series 1928G – The least popular is the G series with 52,208,000 printed bills. The value of this bill is low no matter the condition. For a bill in poor condition, you can get from $2 to $4; $8 to $10 for a good condition; $12 to $18 for an uncirculated bill.
1928 $2 star notes
As you all know from my previous articles a bill with a star symbol at the end of the serial number is called a replacement note. These bills were printed when there was a printing error or mistake on the bills and they needed a replacement. Star notes for red seal bills are very rare and valuable. These specimens can bring you a lot of money.
- Series 1928* – It is unknown how many of these star notes were printed. However, the market prices are good. For a poor condition bill, you can get from $20 to $40; $50 to $100 for a good condition; $200 to $350 for an uncirculated bill.
- Series 1928A* – If you have a 1928A star, then you are a lucky one. The bill in poor condition will bring you from $75 to $150; $175 to $300 if it’s in a good condition; at least $1,000 if it’s an uncirculated bill.
- Series 1928B* – The most valuable bill is the 1928B star notes. These are super rare and collectors will pay a lot of money for them. A bill in poor condition will bring you from $1,000 to $2,500; $5,000 to $7,500 if it’s in good condition; an uncirculated bill is worth over $10,000!
- Series 1928C* – The most common star note is the 1928 $2 star note. Their worth is around $10 for a poor condition; from $25 to $75 if it’s in a good condition; an uncirculated bill can bring you from $250 up to $500.
- Series 1928D* – Not so common yet not so valuable star note. A poor condition bill can fetch you around $15; a good condition bill goes from $30 to $75; an uncirculated bill will bring you $125.
- Series 1928E* – Besides the C series this one is also a very rare and valuable series. E series bill in poor condition will get you from $250 to $500; a good condition bill goes from $750 to $1,200; an uncirculated bill will fetch you from $2,500 up to $5,000 and even more.
- Series 1928F* – This series does not worth much unless it has a rare and fancy serial number such as a ladder serial number. Depending on the condition you will earn $15 for a poor condition F* bill; $20 to $30 for a good condition; an uncirculated F* bill will bring you $75.
- Series 1928G* – This is the last printed series of the 1928 $2 bill. However, its value is surprisingly low. The poor condition bill value is around $18; the good condition bill goes from $25 to $35; an uncirculated bill value is $100.
1928 $2 mules, star mules, and other rare errors
A mule note is a banknote or a series of notes that used backplates from a different series. For instance, the front side BEP of the bill is 1928E $2 but it ended up going on 1928B front side. A star mule is rare and it is the same case as the regular note but it also has a star.
- Series 1928C mule – Super rare banknote. These mule 1928C bank notes must have a back plate number of 289 and higher to be considered rare and valuable. The mule bill in poor condition will earn you around $100; in a good condition from $125 to $200; an uncirculated bill will bring you from $500 to $750.
- Series 1928D mule – These notes aren’t so valuable but collectors like to own them. The back plate number must be 288 and below. The mule bill in a poor condition won’t be worth more than $25; in good condition from $30 to $45; an uncirculated D mule worth around $75.
- Series 1928D* mule star note – This is a very sought-after bank note since it is the only series that is both a mule and a star note. A back plate number must be 288 and below. The value of this bill is a bit higher than a regular 1928D mule. The poor condition bill is worth around $40; a good condition bill goes from $50 to $60; an uncirculated bill goes from $75 to $125.
- Series 1928 fancy serial number – As you know fancy serial numbers come in many different types. The more unique the serial number is, the more desirable and valuable it will be for collectors.
Table Chart of the most valuable 1928 $2 bills
What Determines The Value Of The 1928 $2 Bills?
Since two-dollar bills are the rarest denomination printed out of all US bills it is no surprise that they are very popular among collectors. In most cases, a $2 bill in uncirculated condition, no matter the date of printing can earn you a nice amount of cash.
Just like with all other antiques and valuable collectibles, particular factors determine the value of the bill. The following features will dictate the final price.
- Condition – It goes without saying that the condition impacts the worth. Paper money can be in uncirculated and circulated conditions. The uncirculated bills will always reach higher price tags. The circulated bills come with smaller or larger wear signs that will negatively impact the price, even the rare ones will be impacted greatly.
- When they were minted – Naturally, the older your bill is the more attractive and valuable it is.
- Serial number – Different serial numbers have different values. Always check the serial number first, the low or very high serial numbers, ladder serial numbers, and solid numbers will bring the most money.
- Errors – Errors are pretty normal when it comes to printing money. Things, like doubled or not properly placed seals, or mules, are pretty common. These bills are very valuable.
Are some 1928 $2 bills more attractive to collectors than others?
The highest price and the most demand will always go to those bills that feature a special symbol, pattern, or serial number. This is why you need to carefully inspect your bill and pay attention to the following combinations:
- Star symbol – When a bill features a star symbol, it is a replacement banknote. These bills are very valuable and rare.
- Palindromes or radar notes – Serial numbers that read the same whether you look at them backward or forwards are very attractive to collectors.
- Solid serial numbers – If a single digit repeats through the combination you hit the jackpot.
- Binary serial numbers – Notes with only two numbers in a combination of only two for the whole set are very rare and valuable.
- Ladder serial number – A banknote with an upward or downward ladder serial number is very valuable.
Where Can You Purchase Or Sell Your 1928 $2 Bills?
There aren’t many places where you can purchase or sell your 1928 $2 bill. However, the best place to start your research is always the Internet. Web pages and platforms such as eBay, Etsy, and even Amazon will help you to get some basic information about the price and demand for a particular bill.
You should also visit websites that host auctions such as LiveAuctioneers, NumisBids, Dorotheum, Heritage Auctions, etc. For those who are not lazy and eager to find more, you can get first-hand information on the forums that gather paper money enthusiasts. People here like to share their knowledge and experience.
What I must tell you is to be extra careful when buying or selling anything valuable on the Internet since a lot of people will try to scam you. Unfortunately, many people are selling $2 bills for more than what they truly are worth. Make sure you consult with an expert before making any decision.
The safest place to purchase or sell valuable banknotes will always be a specialized shop that sells coins and banknotes, auction events, and shows.
Collecting Old 1928 $2 Bills – Yes Or No?
We all know that a $2 note was never popular in the US. This is the reason why it was never a sought-after collectible. However, the situation is a bit better in a past few years. Since the printing runs are short compared to other denominations (take for example a $1 bill) this makes them rare or even scarce.
The interesting fact is that $2 bills changed the design or signature often. So every time this happened a new series would be issued. This means you can collect a piece from each series and sub-series, which is the case with 1928 and 1953 $2 bills.
Therefore, I can freely tell you that you should consider collecting 1928 $2 bills. Their price tags on the market are pretty high so that’s your chance of earning some extra cash. In case you own a 1928 $2 bill or even a few of them, we would like to hear how you got them.