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Savings Bonds go paperless

Posted by Jill Boynton  September 12, 2011 11:29 AM

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Beginning January 1 next year the US Treasury will no longer sell EE savings bonds at financial institutions. That means you won’t be able to go into a bank and purchase these government bonds. They will be sold electronically through Treasury Direct (www.treasurydirect.gov).

There are lots of benefits to going electronic – it’s much easier and more convenient to purchase, redeem and manage your bond inventory, and it’s safer than holding a physical bond. But these are a popular baby gift and giving a new parent a printout of a bond purchase is just not the same as handing over the envelope with the bond enclosed! Still, this will save the government (and you) many millions of dollars over the first five years, according to the Treasury Direct website.

Another significant change of going electronic is that you will no longer be able to buy EE bonds at half their face value, as all paper bonds have been sold. They do not obtain full face value until they mature. Electronic purchases are made at full face value and worth their full value when available for redemption (after 12 months.)

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D. Abraham Ringer is a CERTIFIED FINANCIAL PLANNER practitioner and a Financial Adviser with Morgan Stanley Global Wealth Management in Boston. He is registered in MA, NH, NY and several other states to which his articles are directed. For more information please visit www.morganstanleyfa.com/ringer
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