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All genuine $1 and $2 bills will have small red and blue fibers embedded in the paper. They do not however have the same security features added to higher-value bills such as security strips and watermarks, because the risk of counterfeiting is very low for these two low denominations.

The US has never stopped printing $2 bills; the most recent series is dated 2008. They remain legal tender. The only reason they're not frequently seen is that they're printed in far smaller quantities than other denominations. (Source: US Bureau of Engraving and Printing)

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