How can I tell a 1953 $2 from a 1928 at a glance?
Look at where the red seal sits. On the 1928 notes it's on the left. On the 1953 notes it's smaller and on the right, printed over a gray word TWO. The left side now carries the legal tender wording printed over a gray numeral 2. The red serial numbers are a touch smaller as well.
The back didn't change. It's still Monticello with no IN GOD WE TRUST. If your red seal $2 has the seal on the right and no motto on the back, it's a 1953 series note. If it has the motto, turn to the 1963 page.
Series 1953 $2 United States notes: signatures by series letter
| Series | Treasurer | Secretary of the Treasury | Notes |
|---|---|---|---|
| 1953 | Ivy Baker Priest | George M. Humphrey | First year of the revised layout |
| 1953A | Ivy Baker Priest | Robert B. Anderson | |
| 1953B | Elizabeth Rudel Smith | C. Douglas Dillon | |
| 1953C | Kathryn O. Granahan | C. Douglas Dillon | Smallest printing of the four; stars scarce |
Where do I find the series letter and signatures?
The series appears as SERIES 1953 near the right side of Jefferson's portrait, with a letter after it on the later printings. The signatures sit at the lower left and lower right. Ivy Baker Priest signs as Treasurer on the 1953 and 1953A notes. Elizabeth Rudel Smith signs on the 1953B and Kathryn O. Granahan on the 1953C. On the right, the Secretary of the Treasury is Humphrey, then Anderson, then Dillon for the last two letters.
All three Treasurers were women; every Treasurer since Georgia Neese Clark took office in 1949 had been a woman. Matching the names to the table above is a good way to confirm the note is genuine and the series is what you think it is.
Which 1953 letters are worth more?
None of the four is truly rare as a regular note. The 1953 was printed in the largest numbers and each later letter was smaller. The 1953C had the smallest run, so crisp 1953C notes get a little more interest than the others.
Star notes are where the group gets interesting. Every letter had star notes and the star run for the 1953C was very small. A circulated 1953C star is a desirable note and a crisp one sits well into the collector premium band. Stars on the other letters are scarcer than regular notes but turn up more often.
How do I check for a star note?
Read the serial number, printed twice in red. On these notes a star takes the place of the first letter, so a star note reads with a star, then eight digits, then a letter. Check both serial numbers. They should be identical. If they don't match, you may have an error note, which is a separate and more valuable category.
What condition grades do collectors use?
Paper money grades run from Poor to Gem Uncirculated and they're judged by folds, wear, stains, tears and the quality of the paper. You don't need to memorize the scale. Ask yourself three questions. Has it ever been folded? Is the paper still crisp? Are the corners sharp and the color bright?
A note that answers no, yes and yes is in the top tier. A note with a single light fold is still a nice example. A soft note with many folds, rounded corners and stains is a well-circulated piece. For 1953 notes the difference between a worn note and an uncirculated one is the difference between a small premium and a collector premium.
Cutting matters too. Margins should show on all four sides. A note trimmed into the design, or with a corner missing, is a lower grade even if it looks fresh.
Should I spend it or sell it?
Don't spend it. It's legal tender, but even a tired 1953 $2 is worth more to collectors than its face value. If you have one or two worn notes, they make a nice keepsake or a gift for a young collector. If you have a crisp note, a star note or a 1953C, it's worth showing to a dealer who handles small-size paper money.
When you sell, don't accept a quick offer for a whole envelope of notes without the dealer telling you which ones they're paying for. Ask them to point out any stars or scarce letters. A good dealer will.
Why were these notes replaced?
Congress made IN GOD WE TRUST mandatory on all paper money in 1955 and the BEP worked it onto each design as plates were remade. The $2 got the motto with Series 1963, which also dropped the phrase WILL PAY TO THE BEARER ON DEMAND from the front. That makes the 1953 series the last red seal $2 without the motto.
Frequently asked questions
How much is a 1953 $2 bill worth?
In worn condition a 1953 red seal $2 usually brings a small premium. Uncirculated notes and star notes are worth more, with the 1953C star the most valuable of the group.
Is a 1953 $2 bill rare?
Not as a regular note; millions were printed. The 1953C had the smallest printing and its star notes are genuinely scarce.
What does the red seal mean on a 1953 $2 bill?
It means the note is a United States note, also called a legal tender note, issued directly by the Treasury rather than by a Federal Reserve Bank.
Can I still spend a 1953 $2 bill?
Yes, it's legal tender for two dollars, but you'll do better selling it to a collector or keeping it.
Sources: United States two-dollar bill (Wikipedia) · Paper Money of the United States, small-size legal tender notes (Neil Berman) · Series (United States currency) (Wikipedia)