Lot #54: Antique United States 1928 issued red seal two-dollar Legal Tender Note

 Most people have never seen a two-dollar bill because they were never widely circulated in the U.S. economy. Since the United States first printed two-dollar bills in 1862, it never found favor with the American public. Early two-dollar bills were almost twice the size of today's two-dollar bills and are known as "large size" bills. In 1928, the Treasury Department reduced the size of paper currency to the standard size it is today. Although most bills are not incredibly rare, a few two-dollar bills are more valuable than others. History of the Two-Dollar Bill Since the beginning, there have been several different types of two-dollar bills. These include Legal Tender Notes, National Banknotes, Silver Certificates, Treasury or Coin Notes, and Federal Reserve Bank Notes. Large size notes carried ornate designs and had various portraits of presidents, war heroes, inventors, and allegorical figures of liberty. Some of the more popular and collectible notes are the Lazy Deuce (Series 1875) and the Educational Notes (Series 1896). Retailers and banks did not prefer the two-dollar note since there was not a standard spot for it in cash registers and teller drawers. In the 1920s, it was considered a jinx to receive a two-dollar note. It was not allowed in some casinos and racetracks. Even today, some retailers refuse to accept them because they think they are counterfeit or "play money." The United States issued red seal two-dollar Legal Tender Notes between 1928 and 1966 (Series 1965). The front of the bill features a portrait of Thomas Jefferson by Charles Bert. The back of the note features Thomas Jefferson's home, Monticello, engraved by Joachim C. Benzing. In 1963, the Treasury Department added the motto "IN GOD WE TRUST" to the back of the note and placed it over the engraving of Monticello. The treasury seal found on the note is bright red. In 1928 it was located on the left side of the note and moved to the right side of the note beginning with Series of 1953. Small size two-dollar notes were first issued in 1928 when the United States was still on the gold standard. There were still gold certificates and silver certificates still in circulation. These silver certificates had a blue treasury seal to differentiate them from other types of bills issued by the United States government. Beginning in 1975 (Series 1976), two-dollar Federal Reserve Notes were issued, and the treasury seal was changed to green to differentiate from the Legal Tender Notes previously issued. The front of the note remains the same, with the ornate scrolling in the multiple counters located throughout the face of the bill. However, the reverse was changed to the vignette of the signing of the Declaration of Independence.