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Collecting $2 Bills Dated From 1862 to the Present
 
When the
Continental Congress was considering the first federally issued money, initially it authorized bills of credit in many denominations, including $2. But only a relatively small number of said $2 notes (49,000) were authorized. The problem is that that paper currency (not only $2 bills) was backed only by the word of Congress and rapidly depreciated in value. This led them to forbid paper currency as legal tender and the issuance of only silver, copper, and gold coinage after the
Series 1862
Treasury Department on the verge of bankruptcy, Treasury Secretary
Salmon Chase proposed issuing legal tender notes to aid the Union’s financial situation. Those first $2 notes from 1862, which measured 7.375 inches by 3.125 inches featured an engraving of ....

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