JOHNSTON, Iowa — Earlier this month, a story out of Dallas went viral when auction house Heritage Auctions sold a $2 bill from 2003 for $2,400.
It was then resold for $4,000.
Quickly headlines popped up, claiming that $2 bills lying around the house could be worth thousands of dollars.
However, Local 5 News spoke with a central Iowa currency expert about just how rare and valuable your $2 bill could be.
And, unfortunately, finding the $2 founding father in your pocket likely isn't going to make you very rich.
"Just because you have a $2 bill, doesn't mean it's going to be rare,” said Brian Dresback, the manager of Christopher’s Rare Coins in Johnston.
According to the Federal Reserve, there were 1.5 billion $2 bills in circulation in 2022.
So, what makes a $2 bill valuable?
"Having a low serial number and a high-quality note makes it rare," Dresback said.
He said bills with a serial number that is the same backwards and forwards, bills with repeating serial numbers and bills with a red or blue seal could also be valuable.
"It's all about the collector,” Dresback said. “Something is only worth what somebody is willing to pay for it."
The bill sold in Dallas had a low serial number of 7.
Dresback said since that bill sold, his shop has gotten more calls from people inquiring if their $2 bills are worth anything.
"Once we tell them and explain to them what the deal was that was sold, that's why it sold for what it did, they usually understand, but it has created an uptick in customer traffic that way which isn't always a bad thing, it gets people interested in the industry again,” Dresback said.
That interest is something he said is needed in an age of digital money.
"Nobody is going to know anything about currency, and nobody's going to know anything about coins,” Dresback said. “They're not going to want to collect them and that's what we try to do, we want people to come and collect this stuff."
While your $2 bill might not be worth much monetarily, Dresback said the value in holding onto them is as a piece of culture.
"It's a great thing to do 'cause it's just the collectability of it, the nostalgia,” Dresback said.
Dresback said if you do have a $2 bill you think could be rare, you should still have it appraised to see what its value could be.