US Paper Savings bonds

[fadedrose]

As of 12/31/11 paper bonds are no longer available.

In the middle of 2011 I decided to buy them as gifts for children and grandchildren spending $25 a month for a different kid every month. They liked getting them.

I've written lots of emails to people in congress, the White House, some TV personalities, asking them to help restore the bond program.

It used to be that you could buy them at the bank or ask Treasury by email or phone to send you forms. You could also fill out forms on line and print them. Then you send the form with a $25 or whatever amount check you want to a federal bank in Minnesota and the person would receive the bond in a month.

Now you must register an account with Treasury, and create an account for each person you buy a bond for, and they NEVER get a bond. The only access is thru the internet to either buy or look at...not much fun for a kid, especially if they have no computer.

People without computers have no way to buy bonds now.

With what we owe China, I can't understand why they don't even try to sell bonds - advertise like they did in WWII - Crosby, Sinatra, the Andrews Sisters, Bob Hope, etc., all begged people to buy bonds. And people did.

Put a bond on Lady Ga-Ga's rear, George Clooney, and othr stars, and have them do a TV ad asking us to buy bonds.

If you haven't gone to the WH with your question yet to ask the President, how about asking one about paper bonds?

A lot of people would benefit... thanks a lot...2 more days to put in a request...

All I can figure is that the bankers want all savings to be in private plans so they could handle everybody's money.

[MADem]

1. I agree with you one thousand percent--and then some!!!

I used to buy a couple of bonds every pay period--I have thick stacks of 'em. Now I throw the money in the savings account.

Take stock in America, and all that. They do make a nice gift, too.

[gopiscrap]

2. I know this annoys me too

my first grand child was born Oct 7th last year and I wanted to get time a bond for Christmas, couldn't do it....

[CountAllVotes]

3. No more physical savings bonds to be had

>>As of today (Jan 1, 2012) you can no longer invest in paper Savings Bonds at a bank, however, you still need a certified signature from a bank for other transactions, such as changing the registration or redemption, involving paper savings bonds that you received in the past. Alternatively, you can convert your existing paper Savings Bonds to electronic bonds at TreasuryDirect.

http://www.savings-bond-advisor.com/buying-us-savings-bonds/



So, it is impossible for someone to buy savings bonds at a bank, etc. today. This is a poor plan at best ... or is it?

The chart above shows the I-bond v. the stock market over time. As you can see, the I-bonds have done a lot better than the stock market.

Who'd ever thunk?

Frankly, I feel they don't want anyone to buy them any longer. Buying them electronically leaves out lots of potential customers, like the elderly and folks that don't have or know how to use a computer.

[fadedrose]

5. My point exactly

You feel good when you buy a bond, especially with what we owe China.

This has to be a republican plot to have money invested solely in private accounts where they can somehow cheat us out of it if they fail......very suspicious of banks.

And you need a lot of money to open a savings or other kind of account. With $25 your loved one gets a start, and makes you feel good besides.

Even if you have quite a bit invested privately, a little bit in your government ain't gonna kill ya......

[fadedrose]

6. You know what makes me feel bad?

That they went about it so quiet and so surreptitiously.

The bond helped win WWII as much as any other force, and there should have been a big fuss over its demise - a solemn ceremony like they had for WWII vets. Bonds bought the tanks and guns and planes - we didn't borrow from China or anybody.

We owed the paper bond something....

[CountAllVotes]

7. I-bonds

Last edited Sat Jan 28, 2012, 04:56 PM - Edit history (1)

Said bonds are the best investment I have going right now paying a little over 3%; were at 4.6%.

Therefore, I'm not being FORCED INTO INVESTING WHAT MONEY I HAVE IN THE GOD DAMN STOCK MARKET (whew!)!

As for the Fed, mission accomplished eh?

[ellisonz]

4. I cashed out mine last year...

...this is a bummer. They were kinda cool.

[fadedrose]

8. K

[Little Star]

9. I was not aware of this! This sucks! Many older people..

buy bonds for grandchildren and the child likes to have the physical bond, makes them feel grownup!