Who made paper money?
Paper currency first developed in Tang dynasty China during the 7th century, where it was called "'flying money'", although true paper money did not appear until the 11th century, during the Song dynasty. The use of paper currency later spread throughout the Mongol Empire or Yuan dynasty China.
The Chinese issued the world's first paper money
They could be carried on strings, but paper money was even easier to handle. This early paper money was in use when Marco Polo visited Kublai Khan in the 13th century. The note, called a kua, is the equivalent of 100 coins and dates from the Ming Dynasty, A.D. 1368–99.
U.S currency is produced by the Bureau of Engraving and Printing and U.S. coins are produced by the U.S. Mint.
Congress acted on Hamilton's recommendations, with the Coinage Act of 1792 that established the dollar as the basic unit of account for the United States. The United States Mint was created by Congress following the passing of the Coinage Act. It was primarily tasked with producing and circulating coinage.
While early currency derived its value from the content of precious metal inside of it, today's fiat money is backed entirely by social agreement and faith in the issuer.
American paper currency comes in seven denominations: $1, $2, $5, $10, $20, $50, and $100. The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But they are still legal tender and may still be in circulation.
Benjamin Franklin and his associates printed paper money for the mid-Atlantic region in the early colonial United States. His bills included blue thread and muscovite, possibly as a counterfeit tactic.
Unless it has a unique feature, like a low serial number or misprint, a newer $2 bill likely isn't worth much more than $2, even if it's uncirculated.
While the note is less common, $2 bills are still being printed (108.3 million entered circulation in 2022) and count as legal tender. You can even pick them up at a bank, though it'll likely only feature the design that took to the presses in 1976.
However, in 1775, when the Revolutionary War became inevitable, the Continental Congress authorized the issuance of currency to finance the conflict. Paul Revere made the first plates for this "Continental Currency." Those notes were redeemable in Spanish Milled Dollars.
Is a $2 bill worth $5000?
The highest value is $4,500 or more for uncirculated notes from 1890, although most of those bills range in value from $550 to $2,500. The values are the same whether the bill has a red or brown seal. An original uncirculated $2 bill from 1862 ranges in value from $500 to more than $2,800.
Who's on a 2 dollar bill? The front of the $2 bill features a portrait of Thomas Jefferson, a founding father and the third U.S. President. The iconic painting "The Signing of the Declaration of Independence" by John Trumbull graces the back.
$500 Federal Reserve Notes
The Federal Reserve Board issues $500 bills that feature President William McKinley's portrait. These circulate for roughly two decades and remains legal tender.
President Grover Cleveland is featured on the newer (1928-1934) $1000 notes. He was the United States of America's 22nd president. The historical figures showcased on older currency are President Andrew Jackson on Civil War-era $1,000 bills and Founding Father Alexander Hamilton on the 1918 Federal Reserve note.
When they were first designed in the early 1860s, we only had black and white photography. The designers chose a bright color that couldn't be reproduced just by taking a picture. Green is also seen as a trustworthy color. The banknotes that we use today were first designed in the 1920s.
Paper money is one of the biggest design failures of the modern era. It rips, gets soiled, gets forgotten in jeans and powered through the wash. It gets screamed at for hiding under sofas, or being crumpled and left loitering in places it shouldn't be.
The $100,000 bill, in possession aside from the federal government, is deemed illegal on account of its large denomination and the regulations declared at its signing.
The $500 bill remains legal tender but most of them are in the hands of dealers and collectors. That being said, should you come into possession of a $500 bill, you'd find that its market value far exceeds its face value. You can find $500 bills listed on eBay.com starting at twice their face value.
While a $3 bill doesn't officially exist in U.S. currency, novelty versions have been created for amusem*nt.
Although paper-based currencies are becoming less popular, they will likely stick around for the foreseeable future. Dollars and cents may become harder to use, but as with many obsolete technologies, there are enough users to ensure demand doesn't disappear completely.
How rich was Benjamin Franklin when he died?
Some people dispute this amount, stating that according to the Dictionary of American Wealth in 2015, Franklin would only be worth about $43.5 million. These numbers are always conjecture. The fact is that by the time he died, Franklin was extremely wealthy from his businesses and inventions.
In addition to red, the new $10 bill features splashes of orange and yellow – all part of the government's effort to thwart counterfeiters. The colorized $10 joins the $20 – the first bill to get a color makeover, in 2003 – and the $50, which was colorized in 2004.
The note is considered uncommon but not rare. U.S. Currency Auctions estimates that uncirculated $2 bills from 1890 could sell for up to $4,500, and uncirculated bills from nearly every year between 1862 and 1917 for at least $1,000.
If your $2 bill dates back to 1886 and has a red seal with a silver certificate, you're in luck. That bill is worth $4,500. A number of other iterations of the $2 bills with a red seal can also fetch well over a $1,000.
Serial numbers
“A serial number '1' for a 1976 $2 bill would be worth $20,000 or more. But [for] a majority of those people holding 1976 $2 bills, they are only worth face value.
