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Red Seal Bills?

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xZACKx's Avatar
United States
648 Posts
 Posted 01/07/2013  05:22 am Show Profile   Bookmark this topic Add xZACKx to your friends list Get a Link to this Message Number of Subscribers
Hi. I'm EXTREMELY new to collecting coins, but I noticed some bills on ebay that caught my eye. Some bills with red seals and serial numbers. I haven't done much research on them yet and I thought to myself, "Hey, why not try the forums?" So here I am posting this. The ones that really interested me were the uncirculated $2 bills. I'm not sure why, but I've always loved $2 bills. Lol. I'm only 16 so I can't afford to spend a lot..That's why I'm looking at these cheaper bills. So if anyone could help me, what do uncirculated $2 bills go for? Just wanna check so I don't get cheated.
Thanks.

-Zack
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John1's Avatar
United States
56855 Posts
 Posted 01/07/2013  05:27 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
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xZACKx's Avatar
United States
648 Posts
 Posted 01/07/2013  05:31 am  Show Profile   Bookmark this reply Add xZACKx to your friends list Get a Link to this Reply
Wow, extremely helpful! Thank you tons.
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John1's Avatar
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56855 Posts
 Posted 01/07/2013  05:35 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
You are very welcome.
John1

EDIT: Just wanted to add that you can also check ebay for sold prices that would give you a more up to date and realistic value.
Edited by John1
01/07/2013 10:04 am
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IndianGoldEagle's Avatar
United States
36845 Posts
 Posted 01/07/2013  12:41 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
From the U.S. Department of The Treasury web site;

What are United States Notes and how are they different from Federal Reserve notes?

United States Notes (characterized by a red seal and serial number) were the first national currency, authorized by the Legal Tender Act of 1862 and began circulating during the Civil War. The Treasury Department issued these notes directly into circulation, and they are obligations of the United States Government. The issuance of United States Notes is subject to limitations established by Congress. It established a statutory limitation of $300 million on the amount of United States Notes authorized to be outstanding and in circulation. While this was a significant figure in Civil War days, it is now a very small fraction of the total currency in circulation in the United States.

Both United States Notes and Federal Reserve Notes are parts of our national currency and both are legal tender. They circulate as money in the same way. However, the issuing authority for them comes from different statutes. United States Notes were redeemable in gold until 1933, when the United States abandoned the gold standard. Since then, both currencies have served essentially the same purpose, and have had the same value. Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued, and none have been placed in to circulation since January 21, 1971.

The Federal Reserve Act of 1913 authorized the production and circulation of Federal Reserve notes. Although the Bureau of Engraving and Printing (BEP) prints these notes, they move into circulation through the Federal Reserve System. They are obligations of both the Federal Reserve System and the United States Government. On Federal Reserve notes, the seals and serial numbers appear in green.
United States notes serve no function that is not already adequately served by Federal Reserve notes. As a result, the Treasury Department stopped issuing United States notes, and none have been placed into circulation since January 21, 1971.
Valued Member
United States
137 Posts
 Posted 01/07/2013  2:11 pm  Show Profile   Bookmark this reply Add nationals to your friends list Get a Link to this Reply
I enjoyed collecting consecutive red seal $2 bills when I first got started. You can usually buy them on ebay for about $10 a note. It is a fun bonus and you can also be more certain of the condition since they have been stored together for years.
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Voshus007's Avatar
United States
442 Posts
 Posted 01/07/2013  2:47 pm  Show Profile   Bookmark this reply Add Voshus007 to your friends list Get a Link to this Reply
Check your local coin shop they might give you a good deal on them I get uncirculated red seal $2 from my LCS for $4! Just look around and buy what you like.
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xZACKx's Avatar
United States
648 Posts
 Posted 01/07/2013  3:56 pm  Show Profile   Bookmark this reply Add xZACKx to your friends list Get a Link to this Reply
Thanks for the help everyone :) And sadly, I live in such a small town that I don't believe we have a coin shop anywhere near here.
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Murphy's Avatar
United States
381 Posts
 Posted 01/18/2013  11:31 pm  Show Profile   Bookmark this reply Add Murphy to your friends list Get a Link to this Reply
I was able to get these from my bank today. I normally go in every Friday to pick up 4 boxes of half dollars. The teller had a big stack of $2 bills and knew I collected almost anything old. These were the only ones with the red seal so she saved them for me. I don't really know anything about bills but I like the fact that these have been around since 1953. The top bill has a cut that was taped in the upper left corner.

Red-Seal-Bills?

Red-Seal-Bills?
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GoldenChest's Avatar
United States
814 Posts
 Posted 01/19/2013  12:12 am  Show Profile   Bookmark this reply Add GoldenChest to your friends list Get a Link to this Reply
Went to a collectible shop today. Was very upset to hear that a set of unc 1928 a through g $2 had been brought in that morning and and sold an hr before I got there.
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Woodford's Avatar
United States
207 Posts
 Posted 01/19/2013  05:04 am  Show Profile   Bookmark this reply Add Woodford to your friends list Get a Link to this Reply
Murphy, that's pretty good find for face value. The top $2 looks to be VF apparent because of the tape and the bottom Fine+ (discoloration and annotation). Definitely worth keeping. Always nice to have teller friends at the bank, actually I wouldn't be surprised if someone from the forums worked as a teller to snatch up old notes!

goldenchest, do you know how much the set went for? because the 1928B $2 is a bit of a rarity and I assume it was present in the set as well.
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