As a seasoned currency collector, I‘ve long been fascinated by the 1963 $2 bill. With its striking red seal and intriguing variations, this note is a standout in American currency. Join me as we explore the history, rarity, and value of this remarkable bill.
The Debut of the 1963 $2 Bill
$2 bills have a long and storied history in the United States, first issued as Federal Reserve Notes in 1862. But the 1963 series marked a special chapter in that saga.
In the early 1960s, the U.S. Bureau of Engraving and Printing was looking to modernize currency production. They decided to tweak the $2 bill design and reintroduce the denomination after a decade-long hiatus.
The new 1963 $2 bill featured a portrait of Thomas Jefferson on the front and the signing of the Declaration of Independence on the back, similar to the previous 1953 design. But there was one big change: a vivid red seal and serial numbers replaced the traditional green.
Image: Front of a 1963 $2 bill featuring the red seal. (Source: National Numismatic Collection at the Smithsonian Institution)
The striking red seal was chosen to help the public distinguish the new $2 bills from the old. It was a bold choice, as red seals had previously been used only on United States Notes and other limited-issue currencies.
Ironically, the splash of color may have contributed to the 1963 $2 bill‘s scarcity. Many people kept the bills as souvenirs or assumed they were rare, taking them out of circulation. Others, unfamiliar with the denomination, were hesitant to use them for purchases.
Two Series, Many Variations
The 1963 $2 bills actually came in two varieties, known as series 1963 and 1963A. The difference lies in the printing method used:
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Series 1963 bills were printed using the traditional "intaglio" method, where the design is engraved into metal plates and then transferred to the paper. This gives the ink a subtle raised texture.
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Series 1963A bills were printed using the faster, cheaper "offset" method. The design is transferred to a rubber blanket and then to the paper, resulting in a flatter texture.
While series 1963 notes are slightly more coveted due to their premium printing, both varieties are prized by collectors. Interestingly, both series were printed concurrently. The Bureau switched to offset printing mid-run to save costs.
Currency production expert Frederick Bart estimates around 112 million total 1963 $2 bills were printed across both series. That‘s a far cry from the billions of $1 bills printed annually!
Here‘s how that breaks down by series and issuing district:
| Federal Reserve District | 1963 Series | 1963A Series |
|---|---|---|
| Boston | 6,240,000 | 7,040,000 |
| New York | 16,000,000 | 12,800,000 |
| Philadelphia | 10,400,000 | 9,600,000 |
| Cleveland | 8,320,000 | 6,400,000 |
| Richmond | 6,560,000 | 6,400,000 |
| Atlanta | 6,880,000 | 6,960,000 |
| Chicago | 11,520,000 | 9,600,000 |
| St. Louis | 5,120,000 | 6,080,000 |
| Minneapolis | 4,480,000 | 4,480,000 |
| Kansas City | 5,440,000 | 5,280,000 |
| Dallas | 6,080,000 | 6,720,000 |
| San Francisco | 6,080,000 | 8,160,000 |
| Total | 93,120,000 | 19,520,000 |
Data: Production numbers for 1963 and 1963A $2 bills by Federal Reserve district. (Source: Bart, 2005)
Notice how the 1963A series had a much smaller print run, making those notes more scarce today. Additionally, star notes were printed for both series to replace any damaged currency. Only around 1.6 million star notes were produced across both series!
What Are 1963 $2 Bills Worth?
With their unique red seals and limited production, 1963 $2 bills are coveted by collectors. But as with all collectibles, condition is king. Let‘s take a look at what these bills are selling for based on their grade:
| Type & Grade | Fine | Very Fine | Extremely Fine | About Uncirculated | Uncirculated |
|---|---|---|---|---|---|
| 1963 $2 | $10 | $15 | $20 | $30 | $50 |
| 1963A $2 | $8 | $12 | $17 | $25 | $40 |
| 1963 $2 Star | $150 | $200 | $300 | $500 | $1,500 |
| 1963A $2 Star | $125 | $175 | $250 | $400 | $1,200 |
| Fancy Serial (Low, Radar) | $50 | $100 | $200 | $400 | $1,000+ |
Data: Representative prices for 1963 $2 bills by type and grade, as of 2023. (Sources: Heritage Auctions, CoolSerialNumbers.com)
Some key takeaways:
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Uncirculated bills command a huge premium over circulated grades. A single fold can mean the difference of hundreds of dollars!
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1963 bills are worth slightly more than 1963A across all grades due to their more limited printing.
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Star notes are the creme de la creme, routinely selling for $1,000 or more in top condition. A 1963 $2 star note graded PCGS MS67 sold for $8,100 in 2017.
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"Fancy" serial numbers like low digits (00000001), radar (12344321), or repeaters (11111111) drive values into the stratosphere. The only confirmed 1963 $2 radar star note, serial 82377328, sold for an astonishing $17,250 in 2006!
Of course, these are just ballpark figures. Rare varieties, exceptional condition, and "pedigree" notes with a notable ownership history can all fetch even higher sums.
Consider the most expensive 1963 $2 bill ever sold: a Series 1963 star note graded PCGS MS68, with serial number 00000001. This beauty hammered for an eye-watering $66,000 at a Heritage auction in 2022!
Image: The famous "99999999" serial 1963 $2 bill, graded PMG Superb Gem 67 EPQ. Sold for $18,000 in 2021. (Source: Heritage Auctions)
Spotting a Genuine 1963 $2 Bill
With any collectible currency, authenticating a genuine example is paramount. Here are some key details to check on a 1963 $2 bill:
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Red Seal and Serial Numbers: All genuine 1963 and 1963A notes will have bright red seals and serial numbers. Faded or orange-tinted ink is a red flag.
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Signature Combination: Both series should be signed by Kathryn O‘Hay Granahan as Treasurer of the United States and C. Douglas Dillon as Secretary of the Treasury.
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Plate Position and Print Order: On 1963 series notes, check for a plate position letter (A-H) and print order number (1-50) next to the lower left serial number. 1963A series notes won‘t have a print order number.
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Microprinting: Genuine bills have tiny printed words that are hard to replicate. On 1963 $2 bills, "USA" is microprinted inside the number 2 on the bottom left corner.
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Paper Texture: Real currency paper has tiny red and blue fibers embedded in it. It should feel slightly rough, not slick like printer paper.
If you have any doubts about a note‘s authenticity, enlist the help of a professional currency grading service like PCGS or PMG. They‘ll not only verify the bill but also assign a grade that can help you gauge value.
Tips for Collecting 1963 $2 Bills
Ready to start hunting for your own piece of 1963 $2 bill history? Here are some tips from a veteran collector:
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Decide on a focus. With so many district seals and variations, it helps to narrow your scope. Maybe you‘ll chase a complete set of 1963A star notes or focus on a single district.
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Set a budget. Rare currency can quickly get expensive, especially in top grades. Determine what you‘re comfortable spending and stick to it.
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Study up. Learn the ins and outs of grading and authenticating 1963 $2 bills so you can spot a genuine rarity. The Friedberg Paper Money of the United States and Whitman Encyclopedia of U.S. Paper Money are great references.
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Network with other collectors. Join a currency collecting forum or attend a paper money show to learn from other enthusiasts. They‘re great places to buy, sell, and trade notes too.
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Be patient. Building a collection takes time. Wait for the right notes at the right price rather than overpaying on impulse. The thrill is in the hunt!
A Piece of History in Your Hands
Collecting 1963 $2 bills is like holding a piece of American history in your hands. These beautiful red seal notes are a tangible link to a bygone era of currency production.
Whether you‘re drawn to their striking design, intriguing variations, or sheer scarcity, 1963 $2 bills make a fascinating and potentially lucrative collectible. With some knowledge and patience, you could be the proud owner of one of these treasured notes.
So the next time you come across a $2 bill, take a closer look. You might just have a small fortune in your wallet!
Disclaimer: The information in this article is for educational purposes only and not intended as investment advice. The collectible currency market can be volatile, with prices depending on condition, rarity, and trends. Always seek the guidance of a trusted currency expert when buying or selling collectible banknotes.
