why are $2 bills not in circulation

my opinion:
it is the same reason as it was many years ago in Germany (over there it was the 5 DM bill).

it is not the consumer, not the people, it is not the cashier in the store, and not the banks.
so who is guilty? I think the "Cash Drawer" Manufacturer !
They build cash drawer with only 4 departments for paper money, and one hidden department for high denomination bills.

Here in US a cashier uses $1,$5,$10 and $20 in this drawer. $50 and $100 and also $2 is inserted into the hidden department slot.
Of course the $2 bill is never given out as change. So it is deposited to the bank and does not stay in circulation.
The banks then state, people don't like the $2 bill, lets stop printing it.
I think the US consumer would be happy to carry less paper around while having the same amount of cash.

Same happened in Germany with the 5DM bill, there was also a 5DM coin, bigger and heavier, however, the cash drawer had space for DM10,DM20,DM50,DM100! DM500,DM1000 and DM5 ended up as a deposit. They stopped printing the 5DM bill stating that german people like the big coin better.

So couple years ago the $1 coin was tested in the States. Yes, would be cheaper then printing new $1 bills.
And the $2 bill could use the $1 department in a cash drawer.
However, the cash drawer has only 4 departments for coins (1,5,10,25 Cent), lol. So where does the $1 coin go?
You guys know the rest of the story.

Just a thought,
solution: I guess I have to design a cash drawer with 5 bill departments and 5 coin departments and sell the idea!


cu

Markus

Those 5DM coins were monsters. Just huge. I still have 2 of them as well as two 2DM coins. Those are pretty big. In itself the 5DM coin is not so bad but when you had it along with all the pfennic it weighed alot. A pocket full of heaviness and you could hardly buy anything with it. Then the bus wanted you to have change. The guy would get upset if you gave him a twenty. Well, that was what the ATM gave me jerk.

Was the 5DM coin as big as our Eisenhower dollar (see dimensions on Wikipedia)?

Admin wrote:
The banks then state, people don't like the $2 bill, lets stop printing it.

(I know we have a gallery, but I thought this would be more appropriate here)

Hey Aaron,

nice picture, and to see all these $2 bills (unmarked), it makes me kind of nervous. lol

To answer the question:
The 5DM coin in Germany was a little bit bigger in diameter than the 50Cent coin here in the states.
However, up to 1975 it was made of real silver. They had to change that since the silver price went up and suddenly the coin itself was more than 5 DM, people just gave the coin to a jewel crafter to receive more than 5 DM. lol

I know that in Europe many counties are asking for a 1 Euro and 2 Euro bill instead of coin. Especially Italy. They were not used to big heavy coins at all.

So you guys think it is the banks fault not wanting to deal with $2 bills. hmm I guess I have to start doing what Aaron is doing...

Markus

Meh.

It's nobody's "fault" and everybody's "fault". Back in the 1920's and again in the 1950's and 1960's, Twos got a bad reputation as being "unlucky". Some folk lore said that if you tore a corner off a Two, the bad luck would drain out. (Hmm, where does bad luck go, BTW?) Finding a Two from those years with all 4 corners still intact is a nice suprise. Finding one with one or more corners gone immediately plunges their value back to EXACTLY $ 2.00.

Two's made a huge rebound in 1976 with the Bicentennial and their re-release on Jefforson's birthday, April 13. People were ga-ga and immediately put Two's into their sock drawers - never to see the light of day until thier owner moved or died.

Because all those 76 Twos disappeared from circulation so quickly and because some folks wanted Twos in circulation, the Fed printed almost as many in 1995. the 95's were NOT stockpiled, but instead gathered dust in bank vaults where BOTH 76's and 95's can be found today.

Both 2003 and 2003A series were printed, so there a LOT of Twos just sitting around doing nothing.

So, yes - go to the bank. Ask for Twos. Enter Them. Mark Them. Spend Them. If anyone ever gives you a hassle, send them this page.

Today, there is a common misconception that the $2 bill is no longer in circulation. According to the Treasury, they "receive many letters asking why the $2 bill is no longer in circulation".[2] In response, the Treasury states: "The $2 bill remains one of our circulating currency denominations. According to B.E.P. statistics, 590,720,000 Series 1976 $2 bills were printed and as of February 28, 1999, $1,166,091,458 worth of $2 bills were in circulation worldwide." However, "in circulation" does not necessarily mean that the notes are actively circulated, only that this is the amount that has not been redeemed for shredding. The Treasury states that the best way for the $2 bill to circulate is if businesses use them as they would any other denomination.

http://en.wikipedia.org/wiki/United_States_two-dollar_bill

I looked it up and it said 5 DMs were about 28 mm diameter (US 50¢ are 30 mm). Heavy coins? Pansies.

But the DM is now moot. With Euro and other countries, people are used to SPENDING their coins, not throwing them in a jar to be given to Coinstar. Same with most other western-style nations with large denomination coins: Canada, NZ, Australia, Japan, non-Eurozone Europe, etc. Most of those have coins up to about US$5 worth. Three countries have coins to around US$10: Japan, Switzerland, and Latvia. I wouldn't be suprised if they replaced the €5 with a coin in the next 10 years. If people are still having problems with their size or mass even after spending them as normal, they could be made out of aluminium or alloy. And get rid of those darn €1 and €2 and maybe €5. That would allow for other coins to be used in those size brackets.

Back to twos, did anyone read or participate in the above forum link at twodollarbills.us? I had been discussing this very topic with several other people for about a year. I have NEVER seen a $2 missing even one corner, after withdrawing about 4 straps. As much as I like $2 bills, I'd like to see $1s and $2s discontinued in favour of coins. Why $2s? Because since they don't circulate much currently, there would be less moaning and groaning when they're replaced. A lot of people use vending machines. Just think of how useful a $2 coin would be.

Really? the 50 Cent coin is bigger. lol, well I was 10 years old when I saw the last 5DM silver coin, and I was 38 when I saw the first US 50 Cent coin, lol, this might be the reason for my wrong guess.

However, I saw that they still sell the 5 DM silver coin on EBAY, sometimes very low price. Might be a good deal if you need some silver.

The $2 bill:
I do have a 1953C $2 bill at home. All 4 corners are okay. I am sooo lucky.

$1,$2 coins:
Yes the European Union decided for coins vs paper bills just because of the cost. A coin will circulate 20 to 50 years. The paper bill perhaps 15 month and you need to reprint.

If they change this in the United States, well best thing to do is open a wallet manufacturing company. In Europe all wallets do have a coin department. There will be big business here in the states.

Markus

Isn't the government here always trying to tell us to spend more, to help the economy? A new wallet demand WOULD be a good thing, as long as we can recycle our old ones.

Yeah, I've been through many 1976 twos and a couple have corners torn, but not torn off (like other bills). I only have 2 1953 twos and they're fine. But twos circulated just fine from 1862 to 1963. What changed? And, I just don't know of anyone with those kind of superstitions. Christianity is king around here.

Don't worry about the 5 DM. The first time I saw an Eisenhower dollar, I was about 8 years old. It looked like a dinner plate. I just withdrew 10 Ikes (as we call them now) from the bank. Spending them should be fun. You know you've spent a dollar when you hear the loud "plunk" of the 38 mm diameter Ike hitting the counter…