1953 $2 Bill Value [Red Seal, A, B, C Star Series Worth]

Currency enthusiasts often ponder the potential worth of vintage bills. In this article, we’ll delve into the value of 1953 $2 bills, which are now over seven decades old.

We’ll examine the various types of 1953 $2 bills, explore their background and design elements, and discuss some intriguing printing errors that have come to light. Additionally, we’ll investigate how the condition of these notes affects their value through the grading process.

Are you eager to learn more? Let’s begin our exploration!

1953 $2 Bill Value Chart

Series	Circulated – Fine to Extremely Fine	Uncirculated
1953 $2 Bill No Star Value	$2.25-$2.50	$12+
1953 $2 Bill Star Value	$10-$15	$90
1953A $2 Bill No Star Value	$2.25-$5	$12+
1953A $2 Bill Star Value	$20-22	$80
1953B $2 Bill No Star Value	$2.75-$5.50	$12+
1953B $2 Bill Star Value	$15-$18	$75
1953C $2 Bill No Star Value	$3.50-$6.60	$12+
1953C $2 Bill Star Value	$15-$18	$90

1953 $2 Bill History

The United States Congress authorized the first Legal Tender $2 bills on February 25, 1862. These initial notes were considerably larger than those in circulation today, leading numismatists to refer to them as “Large Size” notes.

Unlike earlier currency, these bills couldn’t be exchanged for silver coins. Instead, they represented a loan to the government and featured a distinctive red seal.

The earliest $2 bills displayed Alexander Hamilton, one of America’s Founding Fathers and the first Secretary of the Treasury, on the front. However, by 1953, several significant changes had occurred.

In 1869, Hamilton’s portrait was replaced with that of Thomas Jefferson. Later, in 1928, the dimensions of the bills were reduced to the size we’re accustomed to today – 6.1 inches by 2.6 inches.

These alterations remained in effect for the 1953 series. That year also saw the relocation of the red Treasury seal from the left side of the bill to the right. The seal was reduced in size and superimposed on a gray “TWO.”

The 1953 series comprised four distinct varieties, identified by the series numbers 1953, 1953A, 1953B, and 1953C.

Interestingly, one element present on modern currency was absent from the 1953 series: the motto “IN GOD WE TRUST.” This phrase wouldn’t appear on $2 bills until a decade later.

Throughout the 1950s, production of $2 bills gradually decreased. As they became scarcer, people began hoarding them, further reducing circulation. In 1966, production ceased entirely.

After a decade-long hiatus, $2 bills were reintroduced in 1976 to commemorate the bicentennial of American independence. The Treasury seal color changed from red to green for this occasion, a feature that persists to this day.

Despite ongoing production, the $2 denomination remains unpopular, often associated with gambling and illicit activities. Some even consider it unlucky.

Due to their infrequent use, transactions involving $2 notes can sometimes lead to confusion. In 2005, a man in Baltimore was even arrested for attempting to use them, as both the merchant and law enforcement mistakenly believed they were counterfeit.

Features Of The 1953 $2 Bill

Now, let’s discuss some prominent features of the 1953 $2 bills.

Obverse Design Of The 1953 $2 Bill

While the initial $2 Legal Tender Notes of 1862 featured Alexander Hamilton, this was changed to Thomas Jefferson in 1869. Jefferson’s portrait continues to grace modern $2 bills.

This presidential image gives rise to the bill’s common nickname – the “Tom.” It’s occasionally referred to as the “Dirty Tom,” owing to its reputed use in less savory transactions.

The engraving of Jefferson is the work of Charles K. Burt, based on an earlier portrait by Gilbert Stuart.

On the right side of the bill, you’ll find the red Treasury seal. The serial number is also printed in red.

Each of the four series features a unique combination of signatures on the front:

1. The 1953 series bears the signatures of Ivy Baker Priest (left) and G. M. Humphrey (right).
2. The 1953A series combines Priest’s signature with Robert B. Anderson’s, who succeeded Humphrey as Treasury Secretary.
3. The 1953B series introduced two new signatures: Elizabeth Rudel Smith replaced Priest, and C. Douglas Dillon replaced Anderson.
4. The 1953C series saw Kathryn O’Hay Granahan’s signature replace Rudel Smith’s, while Dillon’s remained.

At the bottom, you’ll find the phrase “THE UNITED STATES OF AMERICA WILL PAY TO THE BEARER ON DEMAND TWO DOLLARS.” From 1963 onward, the “pay on demand” clause was removed, leaving only the country name and denomination.

Reverse Design Of The 1953 $2 Bill

The reverse of the 1953 $2 bill showcases an engraving of Monticello, Thomas Jefferson’s expansive estate in Charlottesville, Virginia. This artwork was created by engraver Joachim Clarence Benzing.

Benzing, a Maryland native, began his career at the US Mint sculpting clay for medals before transitioning to engraving for banknotes and later, stamps.

Above the image, a banner reads “UNITED STATES OF AMERICA.” The denomination “TWO DOLLARS” appears four times, with “TWO” repeated an additional four times. The numeral “2” is also displayed on both sides of the note for clarity.

Other Features Of The 1953 $2 Bill

Despite being commonly referred to as paper money, the 1953 $2 bill is actually composed of a blend of 75% cotton and 25% linen.

It measures 6.1 inches by 2.6 inches, matching the dimensions of modern currency. This represents a significant reduction from the original Legal Tender $2 Notes, which measured 7.4 inches by 3.1 inches.

1953 $2 Bill Value Guides

Understanding the value of a 1953 $2 bill requires careful consideration of several factors. Let’s explore the key elements that influence these bills’ worth and examine some specific examples across the different series.

1953 $2 Bill Value

To determine your bill’s series, look for the small print just left of the red Treasury seal on the obverse (Jefferson’s portrait side). The 1953 series bills are signed by Ivy Baker Priest and Treasury Secretary G. M. Humphrey.

Next, check if your bill is a star note, identifiable by a star at the end of the serial number. Star notes, produced to replace defective bills, are rarer and more valuable than their non-star counterparts.

The bill’s condition significantly impacts its value. A 1953 series $2 bill without a star in fine or extremely fine condition typically fetches $2 to $3. In uncirculated condition, the same non-star bill can be worth $12 or more, while uncirculated star bills may reach around $90.

For more precise valuation, consider the bill’s grade on a scale of 1 to 70. Grade 70 represents perfect condition, showing no signs of handling even under 5x magnification, with perfect centering and no artificial enhancements.

Bills graded 65 and above command the highest prices. Non-star notes in this condition range from $15 (grade 65) to $150 (grade 67). Star notes are even more valuable, with grade 65 fetching around $80 and grade 67 about $250. The finest known 1953 $2 star notes, graded 68, are worth approximately $600 each.

Unique features like interesting serial numbers or sequential runs can further increase value. In 2007, a set of 20 consecutive, uncirculated star 1953 $2 bills sold at auction for $1,840.

1953A $2 Bill Value

The 1953A series shows a slightly wider range in value for circulated bills. Non-star notes in fine or extremely fine condition can be worth $2 to $5, while uncirculated examples start around $12.

Star notes from this series are more sought after, valued at about $20 in fine or extremely fine condition, and $80 or more for uncirculated specimens.

Collectors often pay premiums for unique serial numbers. A notable example occurred in 2007 when a pair of specimen $2 bills (one 1953A, one 1953C) with matching sequential serial numbers H12345678G sold for an impressive $12,925.

1953B $2 Bill Value

The 1953B series follows similar valuation patterns. Circulated non-star notes in fine or extremely fine condition typically range from $3 to $6, with uncirculated examples starting at $12.

Star notes, as expected, carry a premium. In fine or extremely fine circulated condition, they’re valued between $15 and $18, while uncirculated star notes start at approximately $75.

Exceptional specimens can command extraordinary prices. In 2008, a non-star specimen note graded 67 PPQ (Premium Paper Quality) by PCGS, featuring a sequential serial number, sold at auction for over $10,000.

1953C $2 Bill Value

For the 1953C series, circulated non-star bills in fine or extremely fine condition are valued between $3 and $7. Star bills in similar condition fetch around $18.

Uncirculated non-star bills start at $12 but can be worth significantly more. Uncirculated star bills begin at about $90.

Unique serial numbers can dramatically increase value. A prime example is a specimen non-star bill graded 65PPQ by PCGS, featuring the “ladder” serial number H12345678G, which sold for over $2,000 at a 2009 auction.

Remember, these values are guidelines. The collectibles market can fluctuate, and individual bills may command higher or lower prices based on their specific characteristics and the current demand among collectors.

1953 $2 Bill Errors

While most currency is printed with precision, errors occasionally occur during the production process. These mistakes can significantly increase a bill’s value to collectors. Let’s explore some noteworthy errors found in 1953 $2 bills.

1953 $2 Bill, Inverted Third Printing

Currency design involves multiple printing stages. The third printing typically adds serial numbers, Federal Reserve numbers, and the treasury seal. In a rare instance, a 1953 $2 bill underwent an inverted third printing, resulting in these elements appearing upside down.

This error bill should have been destroyed during quality control, but it somehow made it into circulation. Graded 58PPQ by PCGS, this unique specimen sold at auction in 2016 for an impressive $10,280, demonstrating the high value collectors place on such rarities.

1953 $2 Bill, Obstruction And Foldover

Another fascinating error combines two distinct mistakes on a single 1953 $2 bill. The note became folded between the second and third printings, causing the right-hand serial number and Treasury seal to be printed on the reverse side.

Additionally, an obstruction during printing left a blank area across the left-hand serial number, resulting in only the first four digits being fully visible.

This doubly-erroneous bill, graded 58 by PMG (Paper Money Guaranty), fetched $4,560 at auction in 2018, further illustrating the premium commanded by error notes.

FAQs on 1953 $2 Bill