What's the use of $2 Bill ?

I'm sure some of our knowledgeable members have good explanations but I don't understand the purpose of a two dollar bill. I guess back in the 20s or 30s, when the dynamics of the economy was different, it might have made sense but why are we still printing them?

 

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I always get a strap of $100 when I go on vacation to use as tips. Get a lot of different reactions when I used them. Usually bring some Ikes too.

 

Why do we still print $2 bills? The answer is more obvious than one would imagine: it's great for buying a slice of pizza and is a perfect denomination for leaving a tip.

 

I like the picture of the (2) Star notes. Quite nice. I always ask at my banks if any tellers have any so they don't have to count them. And also I use them for tips when I go to restaurant. They are very useful. I use to go to a gentleman's club and, well you know what they were for.

 

Oh forgot to mention: Why are $2 bills made? It's to give the wheresgeorge? crowd something to do.

 

But 2 dollar bills normally get snatched up and get stored, the pizza delivery guy will most likely just keep them and put it out of circulation, isn't this a big waste of tax dollars?

 

A valid point but also that depends how you look at it. If people get cheap enjoyment out of owning $2 bills who's to say it's a waste of taxpayer dollars? I'd rather see $2 bills being dropped than bombs dropped over the Middle East.

 

I have those star notes listed on eBay. You made a good point saying that bank tellers don't like them, causes extra work. I count money everyday and 2 dollars bills are just...... needless.... it seems.

 

I love $2 bills. Close to Christmas a lot of the banks order new packs of $2 bills for people to buy to put in cards. I order a ton to spend throughout the year...people love getting a new crisp $2 bill. Great for Starbucks, Dunkin donuts, Caribou and tips and other small purchases. So if you are into using them, check with your local bank branch and see if they can get you some new packs early Dec.

I don't care why they keep printing them but I sure have fun with them. I think it's a good waste of my tax money.....especially since the Feds waste far more than they spend on these $2 bills!!

 

Well, I didn't wanna get into how we waste tax dollars and I know we waste tons of tax dollars too many ways to count.

From the opinions I'm getting so far, 2 dollar bills are more of a 'novelty' than an instrument of commerce.

I like 2 dollar bills too, it kinda adds a small excitement in otherwise, mundane cash transaction.

Then, why not a two cent coin or $200 dollar bill?

 

I've had a thought of making an under 5 cents coin, valid for any amount owed less than 5 cents (it should replace the one cent piece). Each coin should cost the People whatever the government's cost is (metal, machinery, electricity, mining, refining, overhead, salaries, etc.) per piece plus the cost of transporting them.

A $200 bill makes sense these days given how little pocket cash buys anymore. Heck Guyana is up to $5000 bills which is about $25.00 U.S. here.

 

I love them, like to use them more than singles, freaks the younger crowd to no end. or lets go like Canada

 

I'm 35 (the younger crowd?). I think youth love $2 bills. I use toonies at some places where I live. People seem to like them and are willing to accept them in my neck of the woods.

 

Pure profit for the Federal government and the Federal Reserve system if people pull them out of circulation and don't use them again.

 

Now, that's a good point. It's so obvious but I haven't thought about that. I guess they have to make up some of the losses from making pennies.

I heard that it costs us 2 or 3 cents to make a penny. Any thoughts on doing away with pennies, I'm sure we'll adapt to it pretty quickly.

Any thoughts on what kind of problems we will run into once we discontinue making pennies? This question might sounds like I'm getting off the subject but I'm really not, my original PO was a concern for waste of tax money so it is more or less on the same subject.

 

People will complain because merchants will round prices up to the next nickel. People will complain either way.

 

I think some merchants will round down to make it look cheaper, like $3.95....$199.95. We'll be buying most of stuff for 4 cents cheaper.

 

The US mint hemorrhages money on the cent and nickel coins, but they make up the difference and then some by making dimes and quarters. So while there has been an effort underway since ca. 2006 to find substitute elements for the cent and nickel there hasn't been emphasis on replacing the metals with cheaper alternatives. The mint then sells the coins to the Federal Reserve at face value. The same with the BEP, the cost of the $1-100 are about 2-3 cents each then they sell to the Federal Reserve System at face value.

 

umm, I guess only if they don't charge tax?

 

The rounding, as I understand it, only occurs on the total of the purchase; not individual items. (Unless the sale happens to be for an individual item.) This is because pennies will still come in play for state sales taxes. The rounding will be at a loss of just a few cents to the merchant that way and not a loss on each piece of merchandise. Labor, drugs, etc... will still be shown separately, because of the different state sale tax calculated on these classifications.