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2 Dollar Bill Canada: What is it Worth?

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The Canadian 2 dollar bill has long been phased out and replaced with the toonie in 1996. In Sept. 2012, however, a 1986 $2 Canadian banknote was sold for $10,000 in an auction.

It was described by the auction house as an “excessively rare note” and that “no other note of this quality has been sold for this prefix and signature combination.”

Today, the 2 dollar bill Canada 1986 issue, with the AUH prefix and Crow-Thiessen signatures, can be worth $20,000.

Key Takeaways

  • A 2 dollar bill Canada 1986 banknote with the AUH prefix and Thiessen-Crow signature combination was bought for $10,000 at an auction in 2012.
  • The 2 dollar bill Canada 1986 issue can be worth up to $20,000 today.
  • A 1974 2 dollar Canadian banknote was sold for $5,015 at an auction in 2013.
  • Canadian 2 dollar bills issued in 1974 are sold on eBay, with prices ranging from less than $10 and up to $90.
  • The $2 banknote was replaced in 1996 by the toonie to save on costs since the coin lasts 20 times longer than paper notes.

What is the Canadian 2 Dollar Bill?

The Canadian 2 dollar bill was issued by the Bank of Canada from 1935 to 1996. It was withdrawn from circulation in 1996 and was replaced by the $2 coin.

The banknote, of which 22,340,000 were printed by the British American Bank Note Co Ltd Ottawa, features various members of the British Royal family.

The front part of the 1935 first series $2 note features a portrait of Queen Mary, the wife of King George V.

The banknote also bears the signatures of J.A.C. Osborne as the Deputy Governor and G.F. Towers as the Governor.

It was among the first banknotes to be issued by the Bank of Canada. It was released on March 11, 1935, along with the first series of $1, $5, $10, $20, $50, $100, $500, and $1000.

The Birds of Canada Series $2 note was issued thereafter. The 2 dollar bill in Canada in 1986 features a portrait of Queen Elizabeth II on the front and two robins on the back.

It was also in 1986 when there were $2 bills with the AUH prefix that had the wrong signature combination.

The bills had the signatures of the then-incoming Bank of Canada governor John Crow and deputy governor Gordon Thiessen.

The banknotes were supposed to show the signatures of the Bank of Canada governor Gerald Bouey and deputy governor John Crow.

Ten years later, the Bank of Canada stopped issuing the $2 note and replaced it with the $2 coin, called the toonie.

The toonie features a portrait of Queen Elizabeth on one side and a polar bear on the other.

Related: How Many Toonies are in a Roll?

What is the 1954 Canadian 2 Dollar Bill Controversial?

The 1954 issue of Canadian paper money was created following the death of King George VI in 1952. It was also prepared for the incoming monarch, Elizabeth II.

There were marked changes from the previous releases. The queen’s portrait was moved to the right end of the note, where it would have less wear caused by folding.

The bill features the queen’s portrait on the front and the country valley in Canada on the other side.

Shortly after the release of the Canadian 2 dollar bill in 1954, it created controversy because the queen’s hair in the portrait created the illusion of a “devil’s face” peering out from behind her left ear.

Due to this issue, the banknote was sometimes referred to as the “Devil’s Face” variety.

image showing 2 dollar canadian banknote
Image source: CanadaCurrency.com

Because of the controversy, a decision was made to modify the queen’s hair on the banknote, which resulted in two varieties of the monarch’s image on this particular issue.

What is the 1974 2 Dollar Canadian Bill Value?

A 1974 2 dollar Canadian banknote was sold for $5,015 CAD at Moore’s Winter Toronto Auction Sale in Feb. 2013.

Released in 1974, the $2 bill in terra cotta colour shows the portrait of Queen Elizabeth II. The reverse features an Inuit hunting scene on Baffin Island, Northwest Territories.

The note bears the signatures of Gerald Keith Bouey (Governor) and John William Crow (Deputy Governor).

At eBay Auctions, the 1974 2 dollar Canadian bill value ranges from $7 to $89 (plus shipping).

When was the Canadian $2 Bill Discontinued?

The Canadian $2 bill was discontinued in February 1996 and was replaced by the $2 coin, referred to as the toonie.

The toonie debuted on Sept. 21, 1995, five months before its circulation started. The $2 note was eventually phased out when the toonie entered circulation on Feb. 19, 1996.

The government replaced the $2 bill with a coin as a cost-saving measure. According to the Royal Canadian Mint, the toonie lasts about 20 times longer than paper notes.

Can You Find the Canadian 2 Dollar Bill on eBay?

You can find the Canadian 2 dollar bill being online. Prices for the Canadian 2 dollar bill on eBay range from CA$4 for a 1986 two-dollar banknote to CA$2,500 for a rare 1974 special edition.

The $2 banknotes being sold on the platform are either uncirculated or ungraded, have consecutive serial numbers, or are in uncut sheets.

Related: How Many Loonies Are in a Roll?

FAQs

What year is the rarest $2 bill?

These are specific two-dollar bills printed in 1986, with the AUH prefix, that had the wrong signatures on them, particularly of the then-incoming Bank of Canada governor John Crow and deputy governor Gordon Thiessen. The Canadian Paper Money Society states only five of these bills are known to exist, making them extremely rare.

How do I know if my 2 dollar bill is worth anything?

It could be worth a lot if it was printed in 1986, features two robins on the reverse, and has the AUH prefix with the Thiessen-Crow signature combination on it. Depending on the condition of the bill, which features a portrait of the queen on the front, the 2 dollar bill Canada worth could reach $20,000.

Why is there no 3 dollar bill?

There was a 3 dollar bill released on May 4, 1859, issued in the city of Toronto in the Canada West District by the then Colonial Bank of Canada. The banknote features a young Queen Victoria on the front and no printing on the reverse.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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7 thoughts on “2 Dollar Bill Canada: What is it Worth?”

  1. Gravatar for Wanda L. Carter

    I have a Canada 2 dollar bill BGM7697850.
    I cannot seem to find it listed under the serial number page.
    Any suggestions?

    Wanda L Carter

  2. Gravatar for sam

    i have 1986 2 dollar bills are worth anything ?

  3. Gravatar for Malik

    I have the same 2 dollars bill with same signature of Thiessen-Crow issued in 1986

  4. Gravatar for Claudette Spinks

    I have a 1954 $2. bill 6078492 very good
    I also have 8 uncirulated 1976 $2. bills

    Are they worth anything?

    • Gravatar for Enoch Omololu, MSc (Econ)

      @Claudette: They could be. Hard to say how mcuh they are worth, but you could compare with what others are selling theirs on platforms like eBay to get a sense of their value.

  5. Gravatar for Miriam Stamatiou

    I HAVE A PAPER $2 CANADIAN BILL. THE SERIAL NO’S B B 5778194 0N THE LEFT AND THE RIGHT. WITH QUEEN ELIZABETH FACE- SIGNED BY |: LAWSON AND BOUEY. THE BACK OF THE NOTE HAS SCENERY OF PEOPLE LOOKS LIKE INUITS BUT I AM NOT SURE. WHAT IS IT WORTH TODAY.

  6. Gravatar for Erica

    Interested in selling one and two dollar Canadian bills if anyone is interested I’ll send photos.
    Email me at [email protected]

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