As a longtime currency collector and dealer, I‘ve handled more than my share of rare and valuable banknotes over the years. But few issues capture the imagination quite like the 1963 $2 bill. With its distinctive red seals, rich history, and tantalizing variations, this scarce deuce is a trophy for collectors and a fascinating study for numismatists.
In this comprehensive guide, we‘ll dive deep into the 1963 $2 bill – exploring its origins and significance, breaking down its varieties and values, and offering expert tips for collectors looking to acquire these prized notes. Whether you‘re a seasoned collector or a curious newcomer, read on to discover the secrets and allure of America‘s rarest modern currency denomination.
Historical Context
To understand the significance of the 1963 $2 bill, it‘s important to place it in historical context. The $2 denomination has a long and storied history in American currency, dating back to the 1860s. However, it has always been something of an odd duck – produced in much smaller quantities than other bills and often struggling to find its place in circulation.
The 1963 series marked a turning point for the $2 bill. It would be the last deuce printed for over a decade, and the final issue to feature the iconic red seals and serial numbers that had adorned $2 notes since 1928. In a sense, the 1963 bills represent the end of an era – a last hurrah for a denomination that had fallen out of favor with the public but remained beloved by collectors.
Interestingly, 1963 also marked the centennial of the first $2 bill issued in the United States. In 1863, in the midst of the Civil War, the U.S. government introduced $2 legal tender notes to help finance the conflict. These early bills featured elaborate designs and bore the signatures of Civil War-era Treasury officials. While the 1963 notes lacked these embellishments, they carried on the legacy of a denomination with a rich and tumultuous history.
Design and Features
The 1963 $2 bill features a classic design that has remained largely unchanged since the 1920s. The face of the note depicts a portrait of Thomas Jefferson, the 3rd U.S. President and principal author of the Declaration of Independence. Jefferson‘s portrait is based on a famous painting by Gilbert Stuart, and has graced the $2 bill since 1869.
On the reverse of the note is a striking engraving of the signing of the Declaration of Independence, based on the famous painting by John Trumbull. This vignette has been a fixture on the back of the $2 bill since 1899, and depicts 42 of the 56 signers of the Declaration.
However, the most distinguishing feature of the 1963 $2 bill is its red seals and serial numbers. Since 1928, $2 bills had featured this bold red printing, which contrasted sharply with the green seals used on other denominations. The vivid coloration helped the notes stand out and contributed to their popularity with collectors.
Interestingly, the 1963 $2 bills also lack the motto "In God We Trust," which had been added to U.S. currency starting in 1957. The motto was omitted from the initial 1963 printing but was added later that year, resulting in two distinct varieties (more on that later).
Varieties and Rarities
While all 1963 $2 bills are scarce compared to later issues, some varieties are significantly rarer and more valuable than others. Here‘s a breakdown of the key types:
1963 $2 Bills
The initial 1963 printing lacked the motto "In God We Trust" on the reverse of the bill. These notes are slightly scarcer than the later 1963A variety, with approximately 32 million notes printed across all 12 Federal Reserve districts. In circulated condition, 1963 $2 bills typically sell for $20 to $50, while uncirculated examples can fetch $100 or more.
1963A $2 Bills
Midway through the 1963 print run, the Bureau of Engraving and Printing began adding "In God We Trust" to the reverse of the bill, resulting in the 1963A variety. Around 67 million 1963A notes were printed – about twice as many as the motto-less 1963 bills. Circulated 1963A $2 bills generally bring $15 to $40, while uncirculated examples sell for $75 to $150+.
Star Notes
For both the 1963 and 1963A series, a small fraction of bills were printed with a star (*) in place of a letter at the end of the serial number. These "star notes" were used to replace misprinted or damaged bills, and are much scarcer than regular issues. Across all districts, only about 400,000 star notes were printed – less than 1% of the total. Circulated 1963 and 1963A star notes typically sell for $150 to $500, while uncirculated examples can bring $1,000 to $5,000 or more depending on grade and district.
Rare Districts and Fancy Serial Numbers
Some of the most valuable 1963 $2 bills are star notes from the Richmond (E), New York (B), and Boston (A) Federal Reserve districts. These districts had much smaller printages than others, and high-grade star notes can command substantial premiums. For example, a 1963 Boston star note graded PCGS MS-67 sold for $18,000 in 2020, while a Richmond 1963A star note in the same grade brought $12,000 in 2021.
Fancy serial numbers can also significantly boost the value of a 1963 $2 bill. These include solid digits (e.g. 11111111), radar numbers (12344321), low numbers (00000100), and other unusual combinations. A 1963A $2 bill with the serial number 00000005, for instance, sold for over $4,000 in 2019 despite being graded only VF-35.
Here is a table breaking down the approximate printages and values of each 1963 $2 bill variety:
| Variety | Printage | VG-VF Value | MS-63 Value | MS-65 Value |
|---|---|---|---|---|
| 1963 | 31,872,000 | $20-$50 | $125-$250 | $300-$600 |
| 1963A | 67,548,000 | $15-$40 | $75-$150 | $200-$400 |
| 1963 Star | 188,000 | $200-$500 | $800-$1,500 | $2,000-$4,000 |
| 1963A Star | 212,000 | $150-$400 | $600-$1,200 | $1,500-$3,000 |
*Values are estimates based on recent auction results and dealer prices. Actual values can vary significantly based on condition, district, and other factors.
Grading and Condition
As with all collectible currency, condition is king when it comes to 1963 $2 bills. Because these notes circulated heavily for decades, the vast majority show significant wear. Uncirculated examples are exponentially rarer, and even a single grade point can make a big difference in value.
Most 1963 $2 bills on the market grade between Very Good (VG-8) and Very Fine (VF-20), with clear signs of circulation such as folds, creases, and rounded corners. About Uncirculated (AU-50) notes are much harder to find, and will show only traces of wear at the edges.
To qualify as Uncirculated (MS-60 or better), a note must have absolutely no signs of circulation – no folds, no creases, no matter how minor. Pristine notes with exceptional color, centering and eye appeal can reach the coveted ranks of Choice Uncirculated (MS-63) or even Gem Uncirculated (MS-65). At the top end, flawless Superb Gem (MS-67) examples are the stuff of collectors‘ dreams, often selling for five figures at auction.
Here are high-resolution examples of 1963 $2 bills in various grades:
[Images of 1963 $2 bills in VG-8, VF-20, AU-50, and MS-65]When grading currency, it‘s important to consider not only wear and tear, but also factors like centering, print quality, color and embossing. Professionally graded notes by PCGS or PMG will often bring a premium over "raw" examples. For novice collectors, it can be well worth the cost to have valuable notes authenticated and encapsulated by a respected grading service.
Market Analysis and Investment Potential
As a long-time currency dealer and collector, I‘ve witnessed firsthand the growing demand for high-quality 1963 $2 bills in recent years. With a fixed survival rate and an ever-expanding base of collectors, choice examples have proven to be a reliable store of value and a hedge against inflation.
To quantify the rarity of 1963 $2 bills, let‘s look at the population data from the two leading currency grading services:
| Variety | PCGS Population (all grades) | PMG Population (all grades) |
|---|---|---|
| 1963 | 1,354 | 3,028 |
| 1963A | 1,615 | 4,812 |
| 1963 Star | 67 | 158 |
| 1963A Star | 41 | 141 |
*Data as of April 2023. Populations include all grades and varieties.
As you can see, the total populations of 1963 $2 bills graded by PCGS and PMG are quite low, especially for the scarce star notes. For context, PCGS has graded over 1 million 1935 $1 silver certificates – one of the most common collectible currency types.
This rarity has translated into impressive price appreciation in recent years, particularly for high-grade star notes. Here are a few notable auction results:
- In 2021, a 1963 $2 star note from the New York district graded PMG Superb Gem Unc 67 EPQ sold for $16,800.
- In 2020, a 1963A Richmond $2 star note graded PCGS Gem New 66PPQ realized $12,000.
- In 2019, a 1963 $2 star note from the Boston district in PCGS MS-67 fetched $18,000.
Of course, past performance is no guarantee of future results. But the combination of rarity, popular appeal, and historical significance bodes well for the long-term prospects of 1963 $2 bills as a collectible asset.
"The 1963 $2 bill is a prime example of a numismatic rarity that has seen steady and substantial gains in recent years," says Frank Trask, a renowned currency expert and author of numerous books on U.S. paper money. "As more collectors enter the market and compete for a finite supply of high-grade notes, I expect values to continue to rise in the coming decades."
Tips for Collectors
For collectors looking to start or expand a collection of 1963 $2 bills, here are some expert tips to keep in mind:
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Focus on quality. With any collectible currency, it‘s better to have a few high-grade notes than a large quantity of low-grade ones. For the best long-term value, aim for notes graded at least AU-50 or better.
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Prioritize star notes. Star notes are the key to the 1963 $2 series. Not only are they much rarer than regular issues, but they also have the most room for price appreciation. If you can afford it, a choice or gem uncirculated star note is a true trophy for any collection.
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Consider district seals. The most valuable 1963 $2 bills are star notes from low-printage districts like Boston, New York, and Richmond. But even regular issues from these districts can bring a premium over more common seals.
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Look for fancy serial numbers. Solid digits, radars, and other unusual serial numbers can dramatically boost the value of a 1963 $2 bill. Keep an eye out for these "fancy" notes, and be prepared to pay up for desirable combinations.
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Buy certified. For rare and valuable notes, it‘s worth paying a bit more for a professionally graded example. Not only does a PCGS or PMG holder ensure authenticity, but it can also enhance resale value down the line.
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Be patient. Building a high-quality set of 1963 $2 bills takes time. Don‘t be afraid to wait for the right note at the right price. With persistence and a discerning eye, you can assemble a collection that will be the envy of other collectors.
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Store and handle with care. To preserve the condition of your notes, always store them in acid-free currency holders or albums. When handling, be sure to hold notes by the edges to avoid transferring oils from your skin.
Final Thoughts
The 1963 $2 bill may not be a household name like the 1804 silver dollar or the 1913 Liberty Head nickel, but it has a devoted following among currency collectors and a reputation as a true numismatic rarity. With its striking red seals, historical significance, and tantalizing variations, it‘s easy to see why this oft-overlooked deuce has captured the imaginations of collectors for decades.
Whether you‘re drawn to the 1963 $2 bill for its beauty, its history, or its investment potential, I hope this guide has given you a deeper appreciation for this fascinating piece of American currency. By understanding its varieties, its rarity, and its place in numismatic history, you can approach the hobby with the knowledge and confidence of a seasoned collector.
As we‘ve seen, the market for high-grade 1963 $2 bills is strong and getting stronger, with record prices realized in recent years. But beyond the financial aspect, these notes offer a tangible connection to a bygone era of American history – a time of change, challenge, and resilience.
In that sense, collecting 1963 $2 bills is about more than just acquiring rare pieces of paper. It‘s about preserving a piece of our shared heritage, and passing on a legacy to future generations of collectors. As a lifelong numismatist, I can think of few pursuits more rewarding than that.
So whether you‘re a seasoned pro or a curious newcomer, I encourage you to take a closer look at the 1963 $2 bill. With patience, discernment, and a bit of luck, you just might discover a new passion – and a new appreciation for the rich history and enduring allure of America‘s rarest modern currency denomination.
