You can't buy much with a $2 bill nowadays, unless you find yourself at the Dollar Store. But half a
century ago, a $2 bill could buy you a whole lot more. What will some time travel show us about
the value of a $2 bill? Hi, I'm John, director of The Two Dollar Bill Documentary, back to answer
another one of your questions related to the $2 bill. For this video, someone named joe wants to
know the inflation rate of $2 bills; to see what you could buy in the past compared to what you can
get today. Challenge accepted! And for submitting a question that i made a video out of, I'll be
sending joe a $2 bill, which he can keep or spend on whatever he can afford with it. You can get one
too by submitting a question to the Community page on my channel, if I turn it into a new video. Now,
let me get to joe's question while he ponders what to do with his newfound riches. Fifty years ago,
we found ourselves in 1972. Richard Nixon was our president, and he had a very eventful year.
His visit to the People's Republic of China re-established harmonious relations between
the two world powers. He also signed the Anti-Ballistic Missile Treaty with the
Soviet Union. And of course, his involvement in the Watergate scandal in May of that year
would lead to his resignation two years later. Another thing in the works during Nixon's tenure
was the continuous planning of a new $2 bill to be released as part of the nation's bicentennial
celebration four years later. At the time, a red seal 1963 two dollar bill was the last one issued
and had subsequently been discontinued. If you had one though, there was plenty you could spend
it on. At your local grocery store, you could get a dozen eggs for just 52 cents. A gallon of
milk for a $1.29 or a loaf of bread for $1.55. Need cigarettes? $1.75 would get you a carton.
Driving home from the supermarket, you could get nearly four gallons of gas for that two bucks;
the average price for fuel was 55 cents a gallon. If your groceries didn't satisfy
your appetite, two dollars could get you a lot at McDonald's. A Big Mac, large fries, large soda,
and an apple pie would still leave you room to afford a vanilla milkshake... if you so
desired. And on the entertainment side, a $2 bill could get you a ticket to see The Godfather - the
highest grossing film of 1972 - but it couldn't quite get you into a major league baseball game.
The average price for a ticket was $2.95. Of course, as the years went on, the prices of
all these items went up, and the buying power of the $2 bill decreased. According to the website
in2013dollars.com, inflation has caused the amount of two dollars to depreciate to the point where,
on average, it can only get you the equivalent of what 28 cents could afford back then. That's not
the reason people don't spend them. The 1963 $2 bill was discontinued mostly due to lack of use.
The redesigned bicentennial $2 bill in 1976 was mistakenly thought of as a collector's item,
and it was mostly hoarded. The same sentiment still applies today. People don't use $2
bills because of the misconception that they're rare or are out of print. Plus, let's face it,
outside of that Dollar Store - and maybe the McDonald's
value menu - two dollars just won't get you much in 2022. People use them mostly for tips.
Finally, even if your $2 bill can't buy you a gallon of milk, let alone a gallon of gas,
it doesn't mean you shouldn't use them. You can always put them to use the same way I have over
the years. I like to buy things with a handful of $2 bills, which always makes for a fun response at
the cashier. As an example, the video appearing over my shoulder will show you what happened
when i spent nothing but $2 bills at a variety of pet stores. Enjoy, and thanks again for watching.