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US Savings Bonds Information

May 31, 2013

Money magazine had a short article about US savings bonds.  Many Federal workers purchased savings bonds during their careers.  Others may have bonds given to them as gifts.  www.treasurydirect.gov is a website full of information about savings bonds.

– You can figure out the value of your old savings bonds by typing in the serial number.  It will show their current value and values are update twice a year.

– Another way to do it if you don’t have all the serial numbers is to enter your social security number.  A list will appear with all the bonds with your name. 

– If you have a number of bonds, the website will list them in a spreadsheet like fashion, with running totals and other information.  You can download this file to your own computer.

– If any of your bonds are over 30 years old, they are no longer accruing interest and cashing them in is an option.  Bond income is exempt from state taxes, but you’ll owe federal income tax on the payout.

– Cashing bonds is free at most banks, but they may limit how many bonds you can cash in per day.  You need to sign the back of the bond in the presence of the bank employee, and it takes a little while if you have a number of bonds.  Check with your bank for their specific rules.

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