1918 $2 Battleship Note Value
The 1918 $2 Federal Reserve Bank Note is called the Battleship for the warship engraved across its reverse, steaming under a full head of steam. Jefferson appears on the face. It is a large-size note and one of the most immediately appealing designs in US currency.
It was issued by individual Federal Reserve Banks rather than the system as a whole, so the district on the note affects scarcity. Popularity keeps prices firm even in worn grades.
Quick facts
- Type
- Federal Reserve Bank Note, large size
- Series
- 1918
- Nickname
- Battleship note
- Face
- Thomas Jefferson
- Back
- Battleship, believed to be the USS New York
1918 $2 Battleship value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| Heavily worn or damaged | $120 to $180 | |
| Well worn | $200 to $350 | |
| Lightly circulated | $400 to $700 | |
| About uncirculated | $800 to $1,400 | |
| Crisp uncirculated | $1,400 to $4,000+ |
Boston, Philadelphia, Cleveland, and Chicago are the commoner districts. Minneapolis, Dallas, and San Francisco are considerably harder and priced accordingly.
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Federal Reserve Bank Notes
These are not Federal Reserve Notes. Federal Reserve Bank Notes were obligations of an individual Reserve Bank, backed the way national bank notes were, and each carries the name of the issuing bank prominently on the face.
The class was short lived. The 1918 series is the main large-size issue, and a small emergency printing followed in 1929. That narrow window is part of why collectors pursue them.
Condition and eye appeal
The Battleship is bought as much for the design as for the rarity, which means eye appeal drives price more than usual. A note with strong ink, clean paper, and even margins outsells a technically higher graded note that looks tired.
Watch for the common problems on notes this old: pinholes, edge splits at the folds, and rust stains from paper clips. Any of those knocks a meaningful percentage off.
Frequently asked questions
What ship is on the 1918 $2 bill?
A battleship generally identified as the USS New York, engraved under way. The design gives the note its collector nickname.
How much is a 1918 $2 Battleship note worth?
Roughly $200 to $350 well worn, $400 to $700 lightly circulated, and four figures uncirculated. The issuing Federal Reserve Bank affects the range.
Is the 1918 $2 the same as a red seal $2?
No. The 1918 is a large-size Federal Reserve Bank Note with a blue seal. Red seal twos are small-size United States Notes from 1928 onward.