Lake Sinclair Blog

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Savings Bonds... you can't buy them at a bank anymore!

Shhhh, don't tell my daughter that I have a savings bond with her name on it, she'll want the money.  But the fact is I do know right where it is and I'm positive it's worth more than the face value by now.  However you can't buy savings bonds and walk out of the bank with them in hand anymore. 

It must all be handled on line at TreasuryDiriect.gov from January 1, 2012.  But I suppose with going "paperless" savings bonds will not get lost.  I remember after one of my grandparents passed away someone in the family found a list of some savings bonds that had been purchased it was quite the process to find out from the Treasury Department if they had in fact been cashed in or were "lost".  So in the future I guess the only thing people can lose is their password to their on-line managment of their account.  And generally speaking with an email address that can fixed in a minute or two.

Now I have to find out how those old paper bonds can be cashed.  I wonder if that can still be done at the bank? And if you want to hold on to your money I guess you'll have to stick to cash.  Seems companies aren't issuing paper stock certificates, nor savings bonds on paper anymore.  Ah ha, just found out that you can convert most paper posts to electronic accounts here. Want to buy some savings bonds and you can do that on line too.

I keep wondering when there will no longer be cash and all of our money will be in the form of electronic funds.  Don't know what will happen then to all those folks who get paid under the table and hide their money in a mason jar in the back yard.  Do you see that coming, when our U.S. Treasusry goes completely "paperless" and they stop printing money?

 

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7 commentsTammy Lankford • January 09 2012 02:30PM
Savings Bonds… you can't buy them at a bank anymore!
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Shhhh, don't tell my daughter that I have a savings bond with her name on it, she'll want the money. But the fact is I do know right where it is and I'm positive it's worth more than the face value by now. However you can't buy savings bonds and… more