Category Archives: Thomas Jefferson

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The Bicentennial $2 Bill – First of a Kind

 

A pack of 1976 $2 Bills.
A pack of 1976 $2 Bills.

In the mid-1970s, various patriotic and numismatic items were released as the United States marked the bicentennial of its independence from Great Britain, one of the most significant of which was a new $2 bill: the Series 1976 $2 Federal Reserve Note. Sporting a design on the back that appears on the denomination to the present day, the Series 1976 was the first to bear that design and is generally accessible and affordable to paper money collectors.

History of the Bicentennial $2 Bill

Numerous numismatic products were issued marking the Bicentennial. A series of medals struck by the United States Mint was released beginning in 1972. In 1973, President Richard M. Nixon signed a bill authorizing commemorative designs on the quarter, the half dollar, and the dollar coin, along with a double date on those denominations struck in 1975 and 1976. And while it is getting harder, Bicentennial coinage can still be found in circulation today.

Another numismatic item commemorating the Bicentennial,though not as frequently found in circulation, the Series 1976 $2 FRN was approved in late 1975.

On November 3, 1975, Treasury Secretary William E. Simon announced that, in recognition of the United States Bicentennial, the Bureau of Engraving and Printing (BEP) would produce $2 Federal Reserve Notes, the first of their kind.

 

New for the 1976 $2 bill was an engraving depicting the signing of the Declaration of Independence.
New for the 1976 $2 bill was an engraving depicting the signing of the Declaration of Independence.

Though the new design for the $2 denomination was inspired by the Bicentennial, the Series 1976 $2 FRN was not a commemorative issue. The New York Times made explicit the connection between the new $2 bills and the Bicentennial in its November 9, 1975 coverage:

“[T]he bill is not a ‘special’ Bicentennial‐year issue; it will continue on as a permanent part of the nation’s circulating paper currency.”

The new notes were the first FRNs of the denomination; the last $2 notes issued, in the 1960s, were Legal Tender Notes with a red Treasury Seal and serial numbers. $2 Legal Tender Notes, National Bank Notes, Silver Certificates, Treasury Notes, and Federal Reserve Bank Notes had all been issued since the 1860s.

The face design remained largely unchanged, except the Treasury Seal and serial numbers, which on the $2 FRN is green.

The back design changed completely, with Thomas Jefferson’s mansion Monticello replaced by a depiction of John Trumbull’s painting entitled Declaration of Independence (1817). It was executed for the notes by Peter Cocci, a BEP staffer. The Bicentennial issue was not the first outing of Trumbull’s painting on U.S. paper money, of course; it first appeared on the back of $100 National Bank Notes in 1863, the year after the first federal $2 notes were introduced. The denomination appears in numerals in each corner, with scrolls featuring the written denomination flanking the bottom two numbers; the written denomination also appears vertically on either side of the Trumbull vignette.

Trumbull’s painting also appeared on one of the series of commemorative stamps issued for the Bicentennial, split into four sections; each of the four stamps in the series bore a quarter of the painting.

A total of 590,720,000 Series 1976 Bicentennial $2 bills were printed and the production run ended in 1978. All of the notes produced bear the signatures of Treasury Secretary Simon and Treasurer Francine Irving Neff.

The scarcest Star note for the series is the Friedberg-1935-J*. The issue’s Minneapolis Star notes are comparably rare.

The notes were released on April 13, 1976, Thomas Jefferson’s birthday.

Collectability of the Series 1976 $2 Note

 

Series of 1976 $2 Bill Replacement note.
Series of 1976 $2 Bill Replacement note.

Some observers were hopeful that the $2 denomination would be accepted in commerce, possibly reducing demand for $1 FRNs. An April 11, 1976, New York Times article claimed that:

“The new $2 note is expected to replace about one‐half of the $1 bills in circulation over the next several years. This will result in an estimated saving of $4 million to $7 million per year in printing costs.”

Nevertheless, the notes did not circulate widely, whatever the hopes of their proponents. The denomination is so uncommon in some areas that people have been arrested for trying to spend $2 notes at retail establishments. Yet the vast majority of Series 1976 $2 bills are abundant and affordable.

An interesting notaphilic and philatelic product was created around the Series 1976 $2 Federal Reserve Note release. Many people took the bills to post offices on the release day, affixed stamps directly to the notes, and had the stamps canceled at their local post office. Numerous series of commemorative stamps were issued marking the bicentennial, which made for thematically fitting note-stamp pairings. The stamped notes are not worth much beyond their face value, but a collector might seek out a note from their hometown or another location of personal significance.

Art Friedberg, the co-author of Paper Money of the United States (21st Ed., 2017), shares that the stamped Series 1976 $2 FRN sold briskly around the time of the Bicentennial.

“It was different, it was collectible, people loved it. We made a lot of money,” Friedberg explained in a phone interview.


Unusual fold error. PMG 64 EPQ. Image: Stack’s Bowers. Price Realized: $2,040.

Robert Azpiazu, owner of First City Coins and Collectibles and author of Collector’s Guide to Modern Federal Reserve Notes Series 1963-2009 (2011), elaborates on the stamped notes’ appeal in an email interview:

“There are some cancellations that are very valuable but only to a small group of eclectic collectors.”

Series 1976 Bicentennial $2 bills appear in a number of U.S. Mint products, including the 1994 Thomas Jefferson 250th Anniversary Coinage and Currency set, notable for its Satin Finish Jefferson nickel.

At the time of writing, Paper Money Guaranty (PMG) reports 18,462 total grading events for Series 1976 Bicentennial $2 bills from all 12 Federal Reserve banks; 5,538 of those are Star notes.

Circulated examples of Series 1976 $2 FRNs can be bought for around face value or occasionally found in circulation. Uncirculated examples can bring a dollar or two over face.


Serial Number 1 note. Sold by Heritage Auctions for $21,150.

Rarer Star notes naturally command higher premiums, as do notes at the highest end of the condition scale or those with collectable serial numbers. F-1935-L with serial number 1 sold with its brick label in a Heritage auction on January 8, 2016, for $21,150 USD.

Issued in massive numbers with a design commemorating the U.S. Bicentennial, Series 1976 $2 Federal Reserve Notes are affordable and abundant, notable as the first $2 FRNs and for the numerous stamped specimens available for a little over their face value.

* * *

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United States 1940 Jefferson Nickel

Description The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner, […]

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The 1792 Half Disme: A Tiny Classic Coin Shrouded in Mystery

By Blanchard and Company, Inc ……   In the early days of our young nation, America faced a new challenge—a shortage of small change. After years of relying on foreign gold and silver coins, America needed its own system of coinage, especially in small denominations. One of the first tasks of the first Treasury Secretary […]

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James Smillie’s $2 Bill Design is a Masterpiece

By CoinWeek …..   United States paper money has been blandly consistent for much of the past century – but this wasn’t always the case. In the 19th century, the Bureau of Engraving and Printing employed some of the best engravers in the country, and as a result, the United States issued notes that were […]

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Historic 1790 Thomas Jefferson Report on US Coinage Donated to ANA

Considered to be the most important document written by Jefferson while Secretary of State   One of only six known surviving copies of Thomas Jefferson’s 1790 report to the House of Representatives on proposed weights, measures, and coins for the young United States has been donated to the American Numismatic Association (ANA) by collector and […]

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Unique Declaration of Independence Medal Leads Record $4.27 Million Sedwick Auction

A unique American silver medal depicting the presentation of the Declaration of Independence set a new record during Daniel Frank Sedwick, LLC’s November 3 and 4 Treasure Auction 32. The live online and floor auction was itself a record sale for the firm with over $4.27 million sold across 1,622 lots. The large Proof silver […]

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GreatCollections Sells Mint State 1792 Half Disme for Over $350K

On Sunday, October 23, 2022, bidding ended on Greatcollections.com for a prime example of a classic American numismatic rarity, the 1792 Flowing Hair Half Disme. Graded MS 64 by PCGS–and with at most 10 to 15 examples graded higher–this coin is one of the nicest surviving examples. Quite possibly a once-in-a-lifetime opportunity to acquire such […]

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GreatCollections Sells Mint State 1792 Half Disme for Over $350K

On Sunday, October 23, 2022, bidding ended on Greatcollections.com for a prime example of a classic American numismatic rarity, the 1792 Flowing Hair Half Disme. Graded MS 64 by PCGS–and with at most 10 to 15 examples graded higher–this coin is one of the nicest surviving examples. Quite possibly a once-in-a-lifetime opportunity to acquire such […]

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United States 1953-D Jefferson Nickel

The Denver Mint reconfigured its entire production floor in 1953 so that all manufacturing steps occurred in sequence and on the same floor of the facility. The metal was to be brought in as raw ingots on one end and taken out as finished coins on the other. However, due to a slashing of Mint […]

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United States 1903 Louisiana Purchase Exposition Gold Dollar

  When the United States formally took possession of the Louisiana Territory on December 20, 1803, effectively doubling the size of the country, Napoleon was busy in Europe trying to outwit the English and other Continental powers. Previously, “the Little Corporal” had envisioned a worldwide empire with French flags encircling the globe, but he had […]

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United States 1943-S Jefferson Nickel

As with all war nickels, the 1943-S Jefferson nickel contained the updated wartime alloy of 35% silver, 9% manganese, and 56% copper authorized in late March 1942. Instituted to reduce unnecessary demand for strategically important copper and nickel, these new coins not only created an interesting series for future numismatists but they also had a […]

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United States 1982-P Jefferson Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and Third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. He […]

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United States 1982-P Jefferson Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and Third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. He […]

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High Grade Full Steps 1944-S Silver Jefferson Nickel at GreatCollections

Biding is live on Greatcollections.com for a beautiful 1944-S Jefferson nickel. Graded as MS 67 with Full Steps by PCGS, collectors should be aware of the exciting opportunity to bid on a high-grade wartime nickel. Such a beautiful piece would make a great addition to any collection. Bidding on this spectacular coin ends Sunday, August […]

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United States 1938 Jefferson Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. He […]

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Coin Profile: 2000-W Library of Congress Bicentennial Bimetallic Coins

The First and Only Bimetalic Commemorative Coin Minted by the US The Library of Congress, founded on April 24, 1800, is the nation’s oldest federal cultural institution. Also the world’s largest library, it houses 119 million items– 18 million books; two million recordings; 12 million photographs; four million maps and 53 million manuscripts. The library’s […]

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United States 1947-D Jefferson Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. He […]

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Five Mint Mark Positions on Jefferson Nickels

By Joshua McMorrow-Hernandez for PCGS …… At least three United States Mint coins still in use today have seen two significantly different mint mark positions, including the Roosevelt Dime, the Washington Quarter, and the Kennedy Half Dollar – all of which saw mint marks at a certain spot on the reverses of the coins before […]

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Five Mint Mark Positions on Jefferson Nickels

By Joshua McMorrow-Hernandez for PCGS ……   At least three United States Mint coins still in use today have seen two significantly different mint mark positions, including the Roosevelt Dime, the Washington Quarter, and the Kennedy Half Dollar – all of which saw mint marks at a certain spot on the reverses of the coins […]

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United States 1964-D Jefferson Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. He […]

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Paper Money Profile: United States Series 1976 $2 Federal Reserve Note

Introduction In the mid-1970s, the United States of America prepared to mark the bicentennial of its independence from Great Britain. Celebrations were planned across the country beginning early in the decade, and numerous numismatic or exonumic items were released – one of the most significant of which was a new series of $2 Federal Reserve […]

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United States 1944-P Jefferson War Nickel

Struck against the backdrop of war from an alloy developed to save copper and nickel, the 1944-P Jefferson nickel is one of the most abundant dates of the silver alloy subtype. Uncirculated examples are plentiful and can be purchased inexpensively, though fully-struck examples are elusive. The date was counterfeited in the 1950s by Francis Henning, […]

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Collecting $2 Bills Dated From 1862 to the Present

The $2 bill has never been very widely accepted by the American public, nor as widely collected as other denominations   By Bullion Shark LLC …… When the Continental Congress was considering the first federally issued money, initially it authorized bills of credit in many denominations, including $2. But only a relatively small number of […]

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United States 1982-D Jefferson Nickel

Description Background The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of that coin’s production run. A design contest to commemorate Founding Father and third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was […]

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United States 1975-D Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson was held in 1937, open to “all American sculptors”. German émigré and American artist Felix Oscar Schlag was the winner. […]

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A Closer Look at the Series of 1918 $2 Battleship Note

By Cory Williams for PCGS ……   Back of Series of 1918 “Battleship Note” $2 Federal Reserve Bank Note, courtesy of Heritage Auctions While the terminology sounds almost the same, Federal Reserve Bank Notes differ from Federal Reserve Notes in the language of which entity will be paying to the bearer on demand. “FRBNs”, as […]

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The Affordable Yet Scarce 1939-D & 1950-D Jefferson Nickel Keys Dates

By Jon Garner for PCGS …… Jefferson nickels have been around since 1938, but despite the long run of this popular series, it has not spawned many truly rare dates among the regular issues. Only a handful of regular-issue business strikes saw mintages of less than 10 million pieces, but there two circulation issues saw […]

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BEP Introduces America’s Founding Fathers 2020 Currency Set

By Bureau of Engraving and Printing …… The Bureau of Engraving and Printing (BEP) is pleased to introduce the America’s Founding Fathers 2020 Currency Set. Each set contains a Series 2017 $1 note and Series 2013 $2 note from the Federal Reserve Bank of New York, featuring the portraits of George Washington and Thomas Jefferson, […]

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Coin Profile: United States 1939 Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. […]

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United States 1940 Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner, […]

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Third 2019 United States Mint Youth-Oriented Product on Sale Oct. 31

The United States Mint will begin accepting orders for the 2019 Youth Coin and Currency Set™ (product code 19RX) on October 31 at noon EDT. This is the third of three new youth-oriented products the Mint is offering this year. There is a product limit of 25,000 for the 2019 Youth Coin and Currency Set. […]

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The Second Life of the 1904-05 Lewis & Clark Exposition Gold Dollar

  By Blanchard & Company …… The United States expanded its reach in 1803 with the Louisiana Purchase. For $15 million the U.S. acquired 828,000 square miles from France. The additional land doubled the size of the country. Soon after, President Thomas Jefferson took the initiative to find out what awaited in that great wilderness. […]

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CoinWeek IQ: United States 1982-P Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and Third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. […]

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The 1792 Half Disme: A Small Coin with Huge Historical Significance

By Blanchard & Company …… The United States of America was still in its infancy in the early 1790s. The Founding Fathers signed the Constitution just a few years before in 1787 and many landmark events that shaped the country we are today occurred in the years that followed. Up until this time, American colonists […]

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United States 1938 Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third President of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. […]

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United States Mint to Release 1st of Four 2019 Presidential Silver Medals January 25

The United States Mint will begin accepting orders for the Thomas Jefferson Presidential Silver Medal (product code S803) on January 25 at noon EST. The medal is the first of four .999 fine silver presidential medals slated for release this year. The obverse of this medal depicts a side view of Jefferson’s head and shoulders. […]

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United States 1969-D Jefferson Nickel

Description: The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run. A design contest to commemorate Founding Father and third president of the United States Thomas Jefferson, open to “all American sculptors”, was held in 1937. German émigré and American artist Felix Oscar Schlag was the winner. […]

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The Puzzle of the Nova Constellatios

By Lianna Spurrier for CoinWeek ….. What was the first US coin? The 1793 large cent? Or the 1792 half disme? Nope. The first coin series minted under the authority of the US government was the Nova Constellatio series, a set of pattern coins called for by Robert Morris in 1783 with a fascinatingly convoluted […]

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Author of the U.S. Declaration of Independence and third president, Thomas Jefferson, is remembered on new crown coins for the 275th anniversary of his birth

The government and treasury of the British Virgin Islands have issued new crown coins which are in tribute to America’s third president who is also remembered as the author of the Declaration of Independence, considered one of the most important documents ever written in human history.
The coins, which are produced using an inward-domed and ultra-high relief minting process resulting in piedfort strikes, are produced by the Pobjoy Mint at their facilities in Surrey on behalf of the treasury of the British Virgin Islands

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Amazing half disme nears $2 million

The finest-known 1792 half disme, graded PCGS MS68 and formerly owned by the first United States Mint Director David Rittenhouse, has been sold for a record of nearly $2 million by Brian Hendelson of Classic Coin Company. (Photo credit: Professional Coin Grading Service www.PCGS

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Bowers on collecting: Coins of the presidential administrations — Thomas Jefferson

This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations. To include all of the design types—never mind different dates and varieties—would far exceed the space available

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Bowers on collecting: Coins of the presidential administrations — Thomas Jefferson

By Q. David Bowers
This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations

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Bowers on collecting: Coins of the presidential administrations — Thomas Jefferson

By Q. David Bowers
This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations

Continue reading on Mint News Blog

Rittenhouse 1792 Half Disme and an 1861-P Paquet $20 at 2018 ANA World’s Fair of Money

ANA Governor Brian Hendelson will provide historic multi-million dollar Philadelphia Mint coins and early United States Mint appointment documents for ANA Museum Showcase exhibit The finest known 1792 Half Disme, formerly owned by the first United States Mint Director David Rittenhouse, and the finer of the two known 1861 Philadelphia Mint Paquet Reverse Liberty Head […]

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Bowers on collecting: Coins of the presidential administrations — John Adams

This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations. To include all of the design types—never mind different dates and varieties—would far exceed the space available

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Bowers on collecting: Coins of the presidential administrations — John Adams

By Q. David Bowers
This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations

Continue reading on Mint News Blog

Bowers on collecting: Coins of the presidential administrations — John Adams

By Q. David Bowers
This week I give another overview of the coins issued during the administrations of various presidents from George Washington to date with a small selection of illustrations

Continue reading on Mint News Blog

Coming Soon from BEP: America’s Founding Fathers 2018 Currency Set

By Bureau of Engraving and Printing …… The Bureau of Engraving and Printing (BEP) is pleased to introduce the “America’s Founding Fathers 2018 Currency Set”. Each historic set features a Series 2013 $1 note from the Federal Reserve Bank of Philadelphia and a Series 2013 $2 note from the Federal Reserve Bank of San Francisco […]

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Bowers on collecting: American medals to the fore — the 1805 Eccleston medal

Welcome to the latest installment in my series on the subject. I highlight some of those featured in the best-selling Whitman Publishing book, 100 Greatest American Medals and Tokens

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Spink: Arguably the 1st Authorized Coin Struck by the United States Mint

Spink is excited to announce that there will be a fantastic numismatic collector’s series sale this spring. The sale will take place on the 4th and 5th of April in New York, starting from 11 am. This sale contains an amazing show stopper: a 1792 Half Disme, which is the stuff that Broadway shows and […]

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Modern Coins: A Lifetime of Change to Our Change

By Joshua McMorrow-Hernandez for CoinWeek …..   Look at the change in your pocket or purse. You’ll notice the coins in circulation look a lot different today than, say, in the mid-1990s. As recently as 1998, the array of current-production circulating coins included the Lincoln Memorial cent, the Jefferson nickel with traditional side-profile obverse bust, […]

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Collecting Classic Gold Commemorative Coinage (1903-1926)

By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… This is a great time to collect one of the most interesting and attractive United States coins series My last article focused on classic commemorative silver coins struck from 1892 to 1954. As enumerated, there are many compelling reasons to collect this long-ignored series. Nearly all […]

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U.S. Coin Patterns for Less than $5,000 Each, Pt. 2: Two Cent Pieces

  Analysis regarding scarce coins,  markets, and coin collecting #345 A Weekly CoinWeek Column by Greg Reynolds ….. It has already been explained, in Part 15 of a series about classic U.S. coins, that a set of regular issue, business strike Two Cent Pieces may be completed without spending as much as $500 on any […]

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