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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

New yorkUnited statesEngravingjames conlonJohn trumballAlexander hamiltonGilbert stuartThomas jeffersonTreasury departmentBullion sharkDirector of the bureau printingDemocratic partyContinental congressFederal reserveUnited states mintCivil warTreasury secretary salmon chase