What's the use of $2 Bill ?

This is exactly correct.

 

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Saving tax money - printing one $2 bill costs half as much as printing two $1 bills. In any case, the reason merchants don't like them, there's no place to put them in the standard cash drawer: 4 slots, $1-$5-$10-$20. Same theory for half dollars.

 

In my experience of spending them - they tend to end up in the same slot with the $50s and or $100s which I think is rather funny.

 

If my memory serves me correctly, the odds at all US racetracks are based on $2 wagers, and these tracks use a lot of the $2 notes. It has been this way for 100+ years.

Chris

 

The only reason that the $2.00 FRN is still printed is because the Federal Reserve asks for them to be printed.

The BEP and the US Treasury do not print Federal Reserve Notes on their own. They only print what is ordered by the FED. If the FED did not ask for $2.00 notes, they would not be printed.

Printing Federal Reserve Notes does not cost the taxpayer directly. The Federal Reserve System is a customer of the BEP. They place printing orders and those orders are paid for by the FED. The printed notes are not sold to the FED at face value but are paid for based on a contract price negotiated by the FED. The FED budgeted in excess of $800,000,000.00 for printing from the BEP for FY2014. None of the direct cost of printing Federal Reserve Notes is attributable to the appropriations made by Congress for the BEP.

 

And the reason the Fed requests them - fairly straightforward. There's still interest in "going Canada" and eliminating the penny and the $1 dollar bill, and making the $2 bill the lowest denomination of currency, accompanied by a sensible $1 coin.

Since the Fed doesn't answer to voters or taxpayers, it could happen anytime.

For the $1 coin, I suggest a reprise of the 1787 Fugio pieces inscribed with Benjamin Franklin's tart warning, "Mind Your Business".

 

If you really think so, then I gots to.

 

I have a feeling ^^^ won't last long....

 

I use a two dollar bill for when I buy like a 96 cent- $1. 39 gum package. Saves my five dollar for when I need it and the confusion of finding coins for tax.

 

Must be tough to be a coin collector if they confuse you.

 

I mean searching through my pocket among the other stuff.

 

$2 bills are perfect for buying things that cost 99 cents. 99c + 5% sales tax = $1.04. you could use a five, or you could dig through your pocket for 4 pennies, but why would you do that when you can pay with a $2 bill and get 96 cents in change? Besides, if we ever do switch to the $1 coin, i'd much rather get 2 $2 bills in change for a five than 4 $1 coins

If your change is:
$1 - one $1 coin
$2 - one $2 bill
$3 - one $2 bill and one $1 coin
$4 - two $2 bills
$5 - one $5 bill
$6 - one $5 bill and one $1 coin
$7 - one $5 bill and one $2 bill
$8 - four $2 bills (or a five, a two, and a dollar)
$9 - one $5 bill and two $2 bills
$10 - one $10 bill
and so on

this would eliminate the problem of "all those coins would get heavy!" that the greenback people use as their main argument against switching.

 

It was my understanding that they serve as replacement notes. When $1 bills are mutilated or FUBAR, they get account for, destroyed, and (some of them) get replaced with $2 bills. I could be totally wrong. However, they also served as Treasury notes at one time but not anymore; they are FRNs. Some of my non-collector friends were saying that they are old and don't make then anymore until I told them there was a run in 2013, I believe. There's that, and gentlemen's clubs seem to like them over $1 bills for double the profit (and they are crisper so they twirl in the air much nicer than crinkled old $1 bills).

 

Or you could pay electronically like the rest of us and quit holding up the line...

 

I don't see much of a point of the two dollar bill, but it does have the nicest design of anything in circulation paper or coin. I hope the keep printing it just to remind everybody how nice paper money used to be.

 

Cash is King. I'd rather not pay a 3% fee on top of all my purchases and get into debt. I refuse to ever get a credit card. You don't actually need credit to buy a house, and when i need to buy a new car I'll buy used and pay for it with $100 bills.

 

Makes more sense than 20c pieces, IMO.

I guess that's why they only lasted a couple years >.>

 

Why are you paying 3% fee for anything? Sounds like user error.

 

Interest, I'd guess?

I said the same thing until I realized I get 1-5% back on all puchases I make.

 

We get it, we'll get off your lawn now...