As an avid collector and student of American paper money, I‘ve always been fascinated by the 1953 series $2 bills. With their distinctive red seals and serial numbers, these notes stand out from the sea of green and command a second look. But beyond their eye-catching appearance, 1953 $2s also offer a range of exciting collecting opportunities, with some rare varieties worth well into five figures. Let‘s dive in and explore what makes these bills so special!
Identifying Features and Varieties
First, a quick primer on the key features of the series. All 1953 $2 bills feature a portrait of Thomas Jefferson on the front and an engraved vignette of his Monticello home on the back. They were issued as legal tender notes, meaning they were essentially "bills of credit" or IOUs from the government rather than being backed by hard assets like silver or gold. This is indicated by the red ink used for the Treasury Seal and serial numbers.
The bills were printed in 4 signature combinations, corresponding to changes in the Treasury Secretary and Treasurer positions:
| Series | Signatures |
|---|---|
| 1953 | Ivy Baker Priest / George M. Humphrey |
| 1953A | Ivy Baker Priest / Robert B. Anderson |
| 1953B | Elizabeth Rudel Smith / C. Douglas Dillon |
| 1953C | Kathryn O‘Hay Granahan / C. Douglas Dillon |
While all 1953 $2s were printed in Washington, D.C., a small number of "star notes" from each series were also produced. These replacement notes feature a star symbol at the end of the serial number and were used to replace misprinted or damaged bills. As we‘ll see, certain star notes are among the most valuable examples.
What Determines Value?
For most collectors, the primary factor in determining a 1953 $2 bill‘s value is its condition or grade. The standard scale used runs from 1 (poor) to 70 (perfect uncirculated). Notes are judged based on several factors including centering, ink color, embossing, and any signs of folds, creases, stains or tears.
Here are the most common grades you‘ll encounter and the qualities that define them:
- Good (G-4) – Heavily worn, may have small tears, writing, discoloration. Still intact and clearly identifiable.
- Very Good (VG-8) – Moderate to heavy wear, but less than a G-4. Stronger eye appeal.
- Fine (F-12) – Noticeable signs of circulation with multiple light folds and creases.
- Very Fine (VF-20) – Light overall wear with a few prominent creases or folds. Pleasing eye appeal.
- Extremely Fine (EF-40) – Minimal circulation with 1-2 light folds or creases. Sharp details.
- About Uncirculated (AU-50) – Traces of handling, may have 1-2 tiny corner tip folds.
- Uncirculated (MS-60+) – No signs of circulation. Graded on a scale up to MS-70 based on factors like centering, ink color and embossing.
Getting your notes professionally authenticated and graded by leading services like PMG or PCGS is always recommended when dealing with high-value examples.
So what‘s a typical 1953 $2 bill worth? In lightly circulated Fine condition, most 1953 $2s bring $9-12. Move up to a crisp Very Fine, and you‘re looking at $15-22 on average. Uncirculated examples can bring $30-50 for common varieties in the MS-60 to MS-63 grade range. From there, premiums quickly escalate for better condition notes, star notes and error notes.
Top Varieties and Auction Records
While gem uncirculated regular notes can reach the $300-500 range, the 1953 $2s that generate the most excitement are rare error notes, star notes and "fancy" serial numbers. Here are a few of the most notable:
| Note | Grade | Auction Price |
|---|---|---|
| 1953B $2 Star | PCGS MS-67 PPQ | $12,925 |
| 1953 $2 Double Print Error | PMG AU-55 | $4,230 |
| 1953 $2 Inverted Overprint | PCGS VF-30 | $2,415 |
| 1953C $2 Low Serial 11 | PMG MS-66 EPQ | $1,997 |
| 1953B $2 Solid Serial 22222222 | PCGS MS-64 | $1,645 |
Star notes in gem uncirculated grades routinely sell for $1,000-3,000+ in major auctions. The highest recorded price for a 1953 $2 star is $12,925 for a 1953B in PCGS MS-67 PPQ.
Error notes are also highly prized, with major misprints like double denominations or inverted overprints generating four-figure prices in high grades. Fancy serial numbers are very popular as well, with solid, binary, ladder and radar serials commanding big premiums. A 1953 $2 with serial 99999959 sold for $1,116 in a 2019 Heritage auction.
While high-grade star notes and error notes are undoubtedly the headliners, some collectors prefer to focus on regular issue notes with premium qualities. A pack of 100 consecutive 1953C $2s in choice uncirculated condition sold for $3,290 in 2019, illustrating the demand for high quality original packs.
Collecting Strategies and Market Factors
Building a collection of 1953 $2 bills can be very rewarding, with accessible entry points and ample room for specialization. Beginners might start by seeking out attractive circulated examples of each series at local coin shows or shops. More advanced collectors often gravitate towards putting together graded sets or chasing rare star notes, errors and serial numbers.
Demand from both collectors and dealers can fluctuate over time based on overall market conditions and sentiment. Factors like the health of the economy, inflation concerns, and disposable income all play a role. In general, the market for rare currency has shown solid growth over the past decade, with many record prices being set in 2020-2022.
The rise of registry set collecting, where collectors vie for top-ranking positions in online grading archives, has also driven premiums for superb gems in recent years. Several well-known collectors specialize in high-grade 1953 $2s and have put together impressive sets.
When buying notes for your collection, it‘s important to deal with reputable sellers and be aware of the potential for counterfeit or altered bills in the marketplace. Purchasing certified notes in sealed holders from major grading services like PMG and PCGS is a smart way to minimize risk, especially at the higher end of the market.
FAQs and Tips
To recap, here are answers to some frequently asked questions about 1953 $2 bills:
Q: Are all 1953 $2 bills rare and valuable?
A: No, in circulated grades, most 1953 $2s are still relatively common and worth $10-20 on average. Bills in uncirculated condition, especially star notes and errors, are much scarcer.
Q: Why do 1953 $2s have red seals?
A: The red seals signify that these bills were issued as legal tender notes, rather than silver certificates or other types of currency backed directly by gold or silver. The red ink made them easily distinguishable.
Q: What‘s the most valuable kind of 1953 $2 bill?
A: Currently, the auction record stands at $12,925 for a 1953B $2 star note graded PCGS MS-67 PPQ. Other rare star notes, errors, and serial number bills regularly trade for $1,000-3,000 in high grades.
Q: How do I get my 1953 $2 bill appraised?
A: Consult with a trusted currency dealer or send your note in for grading by NGC or PCGS. These leading authentication services will certify your note‘s authenticity and grade, providing a reliable baseline for valuation.
If you‘re looking to add some 1953 $2s to your collection, I recommend starting with these expert tips:
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Focus on quality – Collectors place a big premium on eye appeal and technical grade. Hold out for nice original notes without major issues like stains, writing or tears.
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Cherry pick star notes – Always be on the lookout for star replacement notes mixed in with regular notes. Uncirculated star notes can be worth $200-500 or more.
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Buy certified – For uncirculated and rare notes, stick with examples certified by PMG or PCGS. This will give you confidence in authenticity and grade.
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Think long-term – Values for rare currency tend to rise over time as more collectors enter the hobby. Consider high-grade regular issues and star notes as a way to preserve wealth.
Whether you‘re drawn to the history, the art, or the profit potential, collecting 1953 $2 bills can be a fun and enriching pursuit. If you have a passion for these distinctive notes, I encourage you to study up, set a budget, and start searching for those elusive gems. With some dedication and a little luck, you might just discover a world-class rarity in your next collection!
