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The paper US saving bond... A thing of the past?

robert38-55robert38-55 Posts: 3,621 Senior Member
Interesting article here about the US saving bond going paperless. Just another American historical icon vanishing from our grips...A couple of items in the article that caught my attention was: US saving bonds have been around since 1935, and minors ( people under the age of 18) could actually own them, Now according to this article that will all change come Jan. 2012

"It is what it is":usa:


  • NNNN Posts: 25,235 Senior Member
    It is an anti old people agenda, only old people buy them and they want to buy them fron a bank teller because that is what they always did and they do not have the equipment, trust, or computer skills to do it on line.
  • Make_My_DayMake_My_Day Posts: 7,927 Senior Member
    When you're broke you have to find ways to cut the budget, I'd say saving $120 Million in tax dollars is probably worth it.
    I agree. The only time I ever owned any of them, it was the result of it being a gift from someone. I don't think I ever held any to the maturity date.
  • Diver43Diver43 Posts: 12,747 Senior Member
    The wife and I have several savings bonds. The ones I purchased while in uniform paid the downpayment plus some for our house. The wife had purchased one each pay period through work since before I knew her. They do pay out in the long run, but I dont see my parents ever purchasing one again if it is only digital.
    Logistics cannot win a war, but its absence or inadequacy can cause defeat. FM100-5
  • TeachTeach Posts: 18,428 Senior Member
    The big downside to savings bonds has always been the lousy return rate. They barely kept up with inflation for most of the time they were issued. Putting some cash under your mattress every payday was about as smart. I bought them by payroll deduction for the first couple of years I was in the USAF, then figured out I could manage my savings better than Uncle Sam could.
  • breamfisherbreamfisher Posts: 14,103 Senior Member
    Paper costs money. If you're trying to save money, cut it where you can.

    My state has been doing away with printed saltwater fishing regulations (they change every 6 months) to save money. I'm not surprised the feds are doing the same thing.
  • Dr. dbDr. db Posts: 1,541 Senior Member
    I have one. Given to me. Couldn't cash it last year at my local credit union, had to go to a bank and they said it was too soon? Hope to cash it this year.
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