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Details about  $2 1976 CHICAGO GEM CU BANDED PACK OF 100

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$2 1976 CHICAGO GEM CU BANDED PACK OF 100
2-1976-CHICAGO-GEM-CU-BANDED-PACK-OF-100
Item Sold
Item condition:
--not specified
Ended:
May 06, 2012
Winning bid:
US $306.00
14 bids ]
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$8.00 Expedited Shipping | See details
Item location:
east coast, United States

Description

eBay item number:
330722852444
Seller assumes all responsibility for this listing.

Item specifics

Circulated/Uncirculated: Uncirculated  

denoms

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Another history making pack is proudly presented from my collection, which stands for the best of the best that United States Paper Money has to offer. This combines nostalgia, flashy kelly green seal, collectibility, certification, and desirability. An epic dream two dollar pack that could bring one to the absolute peak of satisfaction with toe curling pleasure. Unlimited upside. Everything about this is spectacular.

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The United States two-dollar bill ($2) is a current denomination of U.S. currency. Former U.S. President Thomas Jefferson is featured on the obverse of the note. The design on the obverse (excluding the elements of a Federal Reserve Note) is the oldest design of current U.S. currency, having been adopted in 1929. The reverse is the second oldest design, having been adopted in 1976. An engraved modified reproduction of the painting The Declaration of Independence by John Trumbull is featured on the reverse. Featuring John Adams and Thomas Jefferson, it is one of only two U.S. Currency notes that features two Presidents (the $5000 bill featured George Washington and James Madison). Two state quarters also feature multiple presidents: the Illinois State Quarter (George Washington and Abraham Lincoln) and the South Dakota State Quarter (Mount Rushmore, four total presidents). In spite of its relatively low value among the denominations of U.S. currency, the two-dollar bill is one of the most rarely seen in circulation and actual use. It is almost never given as change for commercial transactions, and thus consumers rarely have one on hand. Production of the note is quite low; under 1% of all notes currently produced are $2 bills. This comparative scarcity in circulation has led to an overall lack of public awareness of the $2 bill and has also inspired urban legends and folk beliefs concerning it. Throughout the $2 bill's pre-1928 life as a large-sized note, it was issued as a United States Note, Silver Certificate, and Treasury or "Coin" Note. When U.S. currency was changed to its current size, the $2 bill was issued only as a United States Note. After United States Notes were discontinued, the $2 bill later began to be issued as a Federal Reserve Note. Two-dollar bills are delivered by Federal Reserve Banks in green straps. The denomination of two dollars was first used by the United States federal government in July 1862. The denomination was continuously used until 1966 when the only class of U.S. currency it was then assigned to, United States Notes, began to be discontinued. The $2 bill initially was not reassigned to the Federal Reserve Note class of United States currency and was thus discontinued; the Treasury Department cited the $2 bill's low use and unpopularity as the reason for not resuming use of the denomination. In 1976 use of the two-dollar denomination was resumed as part of the United States bicentennial ($2.00 is equal to two hundred cents) and the two-dollar bill was finally assigned as a Federal Reserve Note, with a new design on the back featuring John Trumbull's depiction of the drafting of the United States Declaration of Independence replacing the previous design of Monticello. It has remained a current denomination since then, although the vast majority of $2 bills in circulation today are from the 1976 series, with newer bills being inserted into the money supply as needed. Today, two-dollar bills are not frequently reissued in a new series like other denominations which are printed according to demand. When the Federal Reserve Banking System runs low on its current supply of $2 bills, it will submit an order to the Bureau of Engraving and Printing, which will then print more. Demand for $2 bills is low enough that one printing can last for many years. Though some cash registers accommodate it, its slot is often used for things like checks and rolls of coins. Some vending machines accommodate it, and self-checkout lanes have been known to do so, even if the fact is not stated on the label. Although they usually are not handed out arbitrarily, two-dollar bills can often be found at banks by request. Two-dollar bills are also appropriately given as change at the gift shop of Monticello, Thomas Jefferson's Virginia estate. Two-dollar bills are delivered by Federal Reserve Banks in green straps of 100 bills ($200). They are often packaged in bundles (10 straps/1000 bills equaling $2000) for large shipments, like all other denominations of U.S. currency. The rarity of a $2 bill can be attributed to its low printing numbers that sharply dropped beginning in the late 1950s when the $2 bill was a United States Note and recently the sporadic printings of still relatively low numbers as a Federal Reserve Note. Lack of public knowledge of the $2 bill further contributes to its rarity. This rarity can lead to a greater tendency to hoard any $2 bills encountered and thus decrease their circulation. After United States currency was changed to its current size, the two-dollar bill, unlike other denominations, was only assigned to one class of currency, the United States Note. United States Notes had a legal statutory limit of $346,861,016. The bulk of this amount was assigned to the $5 United States Note. From 1929–1957 (from Series of 1928 to Series 1953), the $2 bill on average was printed in quantities of 50 million notes per series with only a few variances to this number. From 1957 onwards, $2 bill production figures steadily decreased from 18 million notes in Series 1953A to just 3.2 million notes in its final printing, Series 1963A, which ended in 1966. By contrast, an average of 125 million per series of $5 United States Notes were printed from 1929–1957; the final Series 1963 printing of the $5 United States Note included 67.2 million notes. When the current note was first issued in 1976, it was met with general curiosity, and was seen as a collectible, not as a piece of regularly circulating currency, which the Treasury intended it to be. The main reason it failed to circulate was that businesses never really requested them as part of their normal operations to give back out in change. This failure is linked to the gradual disappearance of the former $2 United States Notes. Supplies of the Series 1976 $2 bill were allowed to dwindle until August 1996 when another series finally began to be printed; this series, however, was only printed for the Federal Reserve Bank of Atlanta. Once again, in October 2003, the $2 bill was printed for only the Federal Reserve Bank of Minneapolis after supplies dwindled . A Series 2003A was also issued starting in 2006, in larger quantity and for multiple Federal Reserve Banks, because of an increase in demand for supplies of the note. Until the end of the 1980s, $2 bills were quite common in Europe with military personnel. The money circulating outside the USA could not easily be taken out of circulation so bills stayed in use much longer than intended, sometimes in very bad shape, even with pieces taped together.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". 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.The most significant evidence of the $2 bill's reawakening would be that, in 2005 alone, 61 million $2 bills were printed by the U.S. Bureau of Engraving and Printing. This is more than twice the number of $2 bills that were printed annually between 1990 and 2001.Many banks stocking $2 bills will not use them except upon specific request by the customer, and even then, may cause a delay with a trip to the vault. Some strip clubs will hand out $2 bills as change and for tips instead of singles to increase the amount given to dancers, and will only hand out singles when they are specifically requested. Some casinos also have $2 poker tables where $2 bills are used instead of poker chips. Some Scrap Yards also pay in $2 bills to save time and paying out fewer bills for less-than-truckload (LTL) transactions.Over 1.5 million $2 bills are entered at the American currency tracking website Where's George? A certain niche of site users have made the $2 bill their preferred denomination, and use it frequently. An unofficial club called "Top Toms" has even appeared for those who have entered 2,000 or more $2 bills into the system. The hope of the Top Toms is to increase the circulation of $2 bills by requesting them from banks. Some members and aspiring members simply ask for the few $2 bills that a particular bank may have in stock at the time of their visit. Some also have their banks order 'straps' (100 bills) or 'bricks' (1000 bills) of $2s direct from the Federal Reserve. Many of the Top Toms will also mark "This is not a rare bill." on the notes before introducing them into circulation. As of March 2010, there are 110 known Top Toms.Because $2 bills are uncommon, their use can make a particular group of spenders visible. A documented case of using two-dollar bills to send a message to a community is the case of Geneva Steel and the communities in the surrounding Utah County. In 1989, Geneva Steel paid its employee bonuses in $2 bills. When the bills began showing up everywhere, people recognized the importance of the company to the local economy. Similarly, Clemson University football fans have, since 1977, used $2 bills stamped with the school's orange "tiger paw" logo to demonstrate their economic impact on a destination community and support their team when traveling to road games or bowl games.At least one example exists of a $2 note being used as commentary on economic events. Following the collapse of Bear Stearns, one famous photo surfaced of a two-dollar note taped above the corporate logo at the bank's headquarters in New York, in reference to the per-share price offered as a takeover bid by JPMorgan (down from $93 a share just a month before).In another example, $2 bills are being spent by libertarians to draw attention to what they argue is the Federal Reserve's role in creating the financial crisis of 2007–2010 and its continued inflationary policies. The $2 note was chosen because it features: Thomas Jefferson, the third U.S. President and opponent of central banking; the Declaration of Independence, which started a movement for independence from a distant, tyrannical government; and the number two, representing the loss of value that inflation entails.

Non-acceptance

Taco Bell

In a story recounted on Snopes.com, a Taco Bell patron attempted to pay for a burrito with a two-dollar bill. The cashier and the store manager both refused to accept it as valid U.S. currency, believing that there was no such thing as a two-dollar bill. When the patron then said that the only other bill he had was a fifty-dollar bill, the manager said that since it was less than an hour to closing, he didn't want to open the safe. When the patron insisted on paying with it, they called the security guard, who then explained that two-dollar bills are actually valid U.S. currency. The man was given the meal free.

Others have written in to Snopes to report similar incidents at other restaurants.

Best Buy

In February 2005, a patron of Best Buy attempted to pay for an electronics installation with 57 $2 bills. The cashier refused to accept them and marked them as counterfeit. The cashier then called the police, and the patron was handcuffed and transported to the county lockup. The Secret Service agent that was sent to the jail cleared up the issue. The suspicion was supposedly caused by ink smearing on the bill and the officer noting that the serial numbers were in sequential order.

Hard Rock Casino

In response to a comment received from a visitor to his website, Steve Wozniak, co-founder of Apple Computers, discussed an experience he faced while attempting to use $2 bills at the Hard Rock Casino in Las Vegas. A common practice of Wozniak's was to legally purchase $2 bills in uncut sheets, then have the sheets perforated and adhered into pads, similar to a stationery notepad. Wozniak recounts how he had tipped a casino waitress using some $2 bills torn from his custom-made bill pads, only to be questioned by casino security, and eventually the Secret Service, regarding the irregular perforated edges on the otherwise genuine bills.

 

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