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Series and Production

The numbers, from the people who print the notes and the people who order them. Four tables, each with its source underneath.

How a $2 Gets Printed

Each year the Federal Reserve Board sends the Bureau of Engraving and Printing a print order by denomination. For the $2 the order is often zero. The Board explained the pattern in its FY 2013 order: "The FY 2013 order does not include any $2 notes because the Board included a sufficient quantity of notes in the FY 2012 order to meet estimated demand for two years. Small-volume note orders are inefficient given the significant fixed costs and production constraints at the BEP." So the $2 is printed in big batches every few years, and the batches are what the tables below show.

Source: Federal Reserve Board, 2013 Federal Reserve Note Print Order

Table 1

Every Series Since 1976

$2 Federal Reserve Notes by Series
SeriesPrintedDistrictsSignatures (Treasurer, Secretary)Regular NotesStar Notes
1976Dec 1975 to Sep 1979All twelveNeff, Simon575,360,00015,360,000
1995Aug to Nov 1996Atlanta (F) onlyWithrow, Rubin153,600,0001,280,000
2003Aug to Oct 2003Minneapolis (I) onlyMarin, Snow121,600,0003,840,000
2003AJul to Sep 2006All twelveCabral, Snow230,400,000320,000
2009Feb to Aug 2012A, B, D, F, G, K, LRios, Geithner134,400,000640,000
2013Nov 2013 to Aug 2019All twelveRios, Lew300,800,0005,248,000
2017AAug 2019 onwardTen districts in the first runs (all but Atlanta and San Francisco)Carranza, Mnuchin115,200,000 in the 2019 runsPhiladelphia (C), about 1,040,000 as reported
2021Mar 2025 onwardKansas City (J) stars first; Atlanta, San Francisco, New York, Cleveland regular runs in 2025Malerba, YellenMonthly reports onlyKansas City (J), two runs reported March 2025

Sources: Series 1976 through 2017A from the USPaperMoney.info $2 serial number tables, which are compiled from BEP monthly production reports (1976, 1995, 2003, 2003A, 2009, 2013, 2017A). Series 2013 signatures per Wikipedia; 2017A and 2021 signatures per the BEP series table. Series 2017A first-run totals per Coin World. Series 2021 production per the BEP monthly reports for March 2025, September 2025, and December 2025 (PDFs). Series totals for 2017A and 2021 will be added when the runs are complete; the fiscal-year table below covers them.

Table 2

Notes Printed by Fiscal Year, per the BEP

The Bureau publishes annual production by denomination back to fiscal 1980. Its $2 column is blank for most years; the years below are the only ones with a figure. "Figures shown represent number of notes printed." The federal fiscal year runs October through September.

$2 Notes Printed by the BEP, Fiscal Years With Production
Fiscal Year$2 Notes PrintedSeries in Production
FY 199651,200,0001995
FY 1997102,400,0001995
FY 2004121,600,0002003
FY 2006230,400,0002003A
FY 2012134,400,0002009
FY 201432,000,0002013
FY 201532,000,0002013
FY 2016179,200,0002013
FY 2019160,000,0002013 and 2017A
FY 2022108,352,0002017A
FY 2023128,000,0002017A

Source: Bureau of Engraving and Printing, Annual Production Reports. Every other fiscal year from 1995 through 2023 shows N/A for the $2; the 1980 to 1994 tables have no $2 row. FY 2024 and FY 2025 annual figures were not yet posted when this page was written; the BEP's monthly reports show $2 production continuing in 2025. "Series in production" is cross-referenced from the serial tables in Table 1.

Table 3

What the Federal Reserve Ordered

The Board's print orders show demand before it becomes production, and their footnotes explain the gaps. Recent orders are stated as ranges so the BEP can adjust within the year.

$2 Notes in Federal Reserve Print Orders
Order Year$2 Notes OrderedBoard's Note
FY 20130"The FY 2013 order does not include any $2 notes because the Board included a sufficient quantity of notes in the FY 2012 order to meet estimated demand for two years."
FY 201444,800,000
FY 201532,000,000
FY 2016179,200,000
FY 20170"The FY 2017 order also does not include any $2 notes, as the FY 2016 order included notes needed to meet demand for multiple years."
FY 20180Same reason as FY 2017.
FY 2019153,600,000"The FY 2019 order includes the volume of $2 notes we estimate Reserve Banks will need to meet demand between FY 2019 and FY 2021."
FY 20200"The FY 2020 order does not include any $2 notes, as the FY 2019 order included the $2 notes needed to meet demand for multiple years."
FY 202138,400,000 to 51,200,000Stated as a range.
FY 2022102,400,000 to 204,800,000Stated as a range.
CY 20230
CY 2024211,200,000 to 256,000,000Approved July 17, 2023.
CY 2025307,200,000 to 416,000,000Approved July 16, 2024. The largest $2 order in this table.
CY 20260

Sources: Federal Reserve Board currency print orders for 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, and 2026. The Board switched from fiscal-year to calendar-year orders in 2023.

Table 4

$2 Notes in Circulation, 2005 to 2025

Volume of $2 Notes in Circulation, Billions of Notes as of December 31
Year$2 Notes (Billions)All Notes (Billions)
20050.725.6
20060.826.4
20070.826.9
20080.827.9
20090.928.5
20100.929.5
20110.931.3
20121.033.0
20131.034.5
20141.136.4
20151.138.1
20161.239.8
20171.241.6
20181.343.4
20191.344.9
20201.450.3
20211.453.2
20221.554.1
20231.654.6
20241.755.4
20251.856.6

Source: Federal Reserve Board, Volume of Currency in Circulation, in billions of notes as of December 31 of each year. At the end of 2025 the full breakdown was $1 15.2, $2 1.8, $5 3.7, $10 2.4, $20 11.0, $50 2.5, $100 19.9 billion notes.

Before 1976

Totals for the large-size and red-seal eras come from the Treasury's "Historical Narrative on the $2 Bill," reprinted by the Federal Reserve Bank of Richmond in 1976. They are on the Large-Size Era and Small-Size Era pages, and in short form on the Timeline. The standouts: 538,734,000 Series 1899 Silver Certificates, 430,760,000 Series 1928 United States Notes, and only 18,560,000 of the final 1963 series.

Source: Federal Reserve Bank of Richmond, "The $2 Bill Returns," Table I (PDF)