Coin and currency collectors often specialize in a particular denomination--$20 gold eagles, Standing Liberty half-dollars, for instance. U.S. two-dollar notes attract some collectors because there are significantly fewer designs and series compared to other denominations. Two-dollar silver certificates are an even smaller group to collect since they were issued in only four series: 1886, 1891, 1896 and 1899. They were also some of the last so-called “large bills,” approximately 7.422 × 3.125 in (189 × 79 mm) as compared to modern “small” bills (6.14 × 2.61 in. or 156 × 66 mm).
Notable Features of the “Mini-Porthole” Bill
The Series 1899 $2 Silver Certificate is notable not only for being the last $2 silver certificate series printed (production continued into the 1920s), but also because it is the only $2 bill to feature a portrait of George Washington instead of the more common Thomas Jefferson image. Because Washington’s portrait on the bill’s face is small and surrounded by an oval frame resembling a ship’s porthole, collectors have named it the “Mini-Porthole” bill.
Unique Design and Signature Combinations
While 1899 Mini-Portholes are not terribly rare, their unique design makes them popular with collectors. There are ten different signature combinations in the series, with the Napier-Thompson pair the rarest. The signature combinations are also a way to date the age of a bill within a year or two.
Condition and Age Impact the Value
Condition and age are the prime determinants of a Mini-Porthole’s value. Those in Very Good or lower condition (10 or below) can be bought for $200 or less. Mid-grade Very Fine and Extra Fine run around $300-$600, while top-grade Uncirculated bills command over $2,000.
Rarity of the $2 Bill
There’s a common misconception that two-dollar bills are rare. No doubt they aren’t very popular as an everyday bill, but the most recent printing, in 2013-14, was of nearly 45 million notes. The U.S. Treasury estimates that over $1.5 trillion worth of $2 notes were in worldwide circulation in 2007. Since then, well over 200 million more have been printed.
Of course the older “large” $2 bills have been out of circulation for nearly 100 years, so they become rarer and more collectible every day. They’re a great way to start or add to a collection of U.S. banknotes.
Whether you’re a seasoned collector or just getting started, be sure to browse the selection of U.S. and foreign coins and banknotes available online from The Great American Coin Company®. Two-dollar note collectors will find a selection of 1899 $2 Blue Silver Certificate "Mini-Portholes" among them. Our inventory is constantly changing, so be sure to check back often.