Klazzik Numismatics Australian Banknote Price Guide
Australian Two Dollar Banknote Price Guide
This guide identifies Australian paper Two Dollar notes by issue, signatures, reference number, serial-prefix detail, recognised star replacement notes and major serial-number or security-thread varieties, with practical collector values by grade.
Values are shown in Australian dollars as general collector guides. Originality, centring, paper quality, folds, stains, tears, writing and other defects can materially affect the value of an individual note.
1966-1974 TWO DOLLAR SERIES
Series Background
Approximately 916,528,000 Two Dollar notes were printed across the 1966-1974 period.
Star replacement notes were used when a faulty note was removed during production and replaced with a note carrying an asterisk in the serial number. On the Two Dollar denomination, the recognised star-note prefixes run from ZFA to ZFS.
The design features John Macarthur (1767-1834) on the obverse and William Farrer (1845-1906) on the reverse. The basic colour is green and yellow, and the note measures approximately 145 × 71 mm.
Obverse and reverse. Click either image to enlarge.
1966 ISSUE
R811966 Two Dollars - Coombs & Wilson
The first decimal Two Dollar issue carries the signatures of H. C. Coombs and Roland Wilson. The first $2 prefix and the last signature prefix are listed separately from the normal issue.
Issue Identification
R81 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R81 | Coombs / Wilson - regular issue | $10 | $17 | $33 | $53 | $116 |
| R81F | First $2 prefix FAA | $241 | $531 | $1,206 | $1,689 | $2,316 |
| R81L | Last signature prefix FKD | $338 | $627 | $965 | $1,399 | $2,171 |
Star replacement note obverse and reverse. Click either image to enlarge.
STAR REPLACEMENT NOTE
R81S1966 Coombs & Wilson Star Note
The 1966 star replacement series is identified by its ZF-series star prefixes and is substantially scarcer than the ordinary R81 issue.
Star Note Identification
R81S Star Note Collector Values
| Reference | Star prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R81S | Mid-range star prefixes ZFB to ZFG | $603 | $1,327 | $2,654 | $4,101 | $5,308 |
| R81SF | First star prefix ZFA | $627 | $1,399 | $2,799 | $4,343 | $5,645 |
| R81SL | Last star prefix ZFH | $724 | $1,592 | $3,136 | $4,825 | $6,273 |
Obverse and reverse. Click either image to enlarge.
1967 ISSUE
R821967 Two Dollars - Coombs & Randall
The 1967 issue combines the signatures of H. C. Coombs and Richard Randall. First and last signature prefixes are recognised separately, along with a distinct star replacement series.
Issue Identification
R82 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R82 | Coombs / Randall - regular issue | $32 | $53 | $87 | $145 | $314 |
| R82F | First signature prefix FKD | $106 | $193 | $290 | $410 | $627 |
| R82L | Last signature prefix FPS | $106 | $193 | $290 | $434 | $651 |
Star replacement note obverse and reverse. Click either image to enlarge.
STAR REPLACEMENT NOTE
R82S1967 Coombs & Randall Star Note
The 1967 star replacement issue is identified by the ZF-series star prefix, with separate listings for the first and last star prefixes.
Star Note Identification
R82S Star Note Collector Values
| Reference | Star prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R82S | Mid-range star prefix ZFJ | $1,158 | $2,461 | $5,066 | $7,961 | $10,615 |
| R82SF | First star prefix ZFH | $1,230 | $2,606 | $5,308 | $8,444 | $11,339 |
| R82SL | Last star prefix ZFK | $1,230 | $2,606 | $5,308 | $8,444 | $11,339 |
Obverse and reverse. Click either image to enlarge.
1968 ISSUE
R831968 Two Dollars - Phillips & Randall
The 1968 issue changes to the signatures of J. G. Phillips and Richard Randall. The regular issue, first and last signature prefixes, and star replacement notes are all listed separately.
Issue Identification
R83 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R83 | Phillips / Randall - regular issue | $9 | $14 | $29 | $48 | $106 |
| R83F | First signature prefix FPT | $87 | $145 | $241 | $338 | $531 |
| R83L | Last signature prefix GRF | $121 | $193 | $290 | $386 | $579 |
Star replacement note obverse and reverse. Click either image to enlarge.
STAR REPLACEMENT NOTE
R83S1968 Phillips & Randall Star Note
The 1968 star replacement series covers a broader mid-range prefix run, with separate first and last star prefixes.
Star Note Identification
R83S Star Note Collector Values
| Reference | Star prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R83S | Mid-range star prefixes ZFL to ZFR | $700 | $1,496 | $3,136 | $5,066 | $6,755 |
| R83SF | First star prefix ZFK | $869 | $1,882 | $3,957 | $6,273 | $8,444 |
| R83SL | Last star prefix ZFS | $724 | $1,568 | $3,281 | $5,308 | $7,093 |
Obverse and reverse. Click either image to enlarge.
1972 ISSUE
R841972 Two Dollars - Phillips & Wheeler
The 1972 issue carries the signatures of J. G. Phillips and John Wheeler and still uses the Commonwealth of Australia title.
Issue Identification
R84 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R84 | Phillips / Wheeler - Commonwealth issue | $10 | $17 | $31 | $53 | $106 |
| R84F | First signature prefix GRG | $121 | $212 | $314 | $434 | $627 |
| R84L | Last Commonwealth prefix HBQ | $106 | $169 | $265 | $362 | $603 |
1974-1988 TWO DOLLAR SERIES
Series Background
Approximately 1,634,578,901 Two Dollar notes were printed across the 1974-1988 period.
The early notes in this period continued with Gothic serial-number lettering. During the Knight & Wheeler issue the numbering changed to OCR-B, a machine-readable style designed to make serial numbers easier to recognise mechanically.
The Knight & Wheeler issue also contains recognised security-thread varieties. The vertical metallic security thread was moved from a position near the centre to a position about 55 mm from the left edge, helping reduce wear and tearing associated with the earlier position.
Obverse and reverse. Click either image to enlarge.
1974 ISSUE
R851974 Two Dollars - Phillips & Wheeler
The 1974 issue retains the Phillips & Wheeler signature combination but uses the title Australia. The first Australia prefix is listed separately; the supplied reference records the last signature prefix as not sighted.
Issue Identification
R85 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R85 | Phillips / Wheeler - Australia issue | $9 | $14 | $29 | $48 | $97 |
| R85F | First Australia prefix HBQ | $179 | $338 | $458 | $627 | $820 |
| R85L | Last signature prefix HLP | Not sighted | ||||
Obverse and reverse. Click either image to enlarge.
1976 ISSUE
R861976 Two Dollars - Knight & Wheeler
The 1976 Knight & Wheeler issue contains three recognised combinations: Gothic serials with centre thread, OCR-B serials with centre thread, and OCR-B serials with side thread.
Issue Identification
R86a - Gothic Serial, Centre Thread
| Reference | Variety / prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R86a | Knight / Wheeler - Gothic, centre thread | $21 | $43 | $82 | $116 | $179 |
| R86aF | First signature prefix, Gothic centre - HLQ | $106 | $159 | $256 | $352 | $507 |
| R86aL | Last prefix, Gothic centre - HQV | $193 | $386 | $579 | $772 | $1,303 |
R86b - OCR-B Serial, Centre Thread
| Reference | Variety / prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R86b | Knight / Wheeler - OCR-B, centre thread | $17 | $34 | $63 | $92 | $145 |
| R86bF | First prefix, OCR-B centre - HPU | $106 | $169 | $256 | $362 | $579 |
| R86bL | Last prefix, OCR-B centre - HUC | $145 | $241 | $338 | $579 | $724 |
R86c - OCR-B Serial, Side Thread
| Reference | Variety / prefix detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R86c | Knight / Wheeler - OCR-B, side thread | $10 | $17 | $27 | $39 | $58 |
| R86cF | First prefix, OCR-B side - HRZ | $121 | $193 | $290 | $434 | $627 |
| R86cL | Last signature prefix, OCR-B side - JEY | $362 | $724 | $1,062 | $1,689 | $2,654 |
Obverse and reverse. Click either image to enlarge.
1979 ISSUE
R871979 Two Dollars - Knight & Stone
The 1979 issue carries the signatures of H. M. Knight and John Stone. First and last signature prefixes are recognised separately from the normal circulation range.
Issue Identification
R87 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R87 | Knight / Stone - regular issue | $5 | $10 | $14 | $19 | $34 |
| R87F | First signature prefix JDX | $116 | $179 | $275 | $362 | $555 |
| R87L | Last signature prefix KVJ | $159 | $265 | $362 | $483 | $772 |
Obverse and reverse. Click either image to enlarge.
1983 ISSUE
R881983 Two Dollars - Johnston & Stone
The 1983 issue changes to the signatures of R. A. Johnston and John Stone. The first and last signature prefixes are listed separately.
Issue Identification
R88 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R88 | Johnston / Stone - regular issue | $4 | $8 | $12 | $17 | $29 |
| R88F | First signature prefix JZH | $77 | $106 | $169 | $241 | $386 |
| R88L | Last signature prefix KRP | $82 | $116 | $179 | $265 | $434 |
Obverse and reverse. Click either image to enlarge.
1985 ISSUE
R891985 Two Dollars - Johnston & Fraser
The 1985 issue carries the signatures of R. A. Johnston and Bernie Fraser. The first signature prefix and the last paper Two Dollar prefix are important collector distinctions.
Issue Identification
R89 Collector Values
| Reference | Prefix / variety detail | F | VF | EF | aUNC | UNC |
|---|---|---|---|---|---|---|
| R89 | Johnston / Fraser - regular issue | $3 | $4 | $5 | $7 | $12 |
| R89F | First signature prefix KRQ | $72 | $106 | $169 | $241 | $386 |
| R89L | Last $2 prefix LQG | $10 | $17 | $34 | $46 | $87 |