Series E Savings Bonds - An Update

I haven’t written about Series E Savings Bonds (“E Bonds”) before, so this isn’t an update to a prior post or article I’ve written. 

Instead this is an update for those of you that might own or know someone that owns some of the E Bonds. 

Many of you might remember these as “War Bonds” due to the government campaign to support our National Defense which was kicked off with FDR buying the 1st Series E War Bond in May, 1941.

I have a couple of clients whose children were given different Savings Bonds, including E Bonds, by their grandparents each year for their birthday or for other special occasions.  In fact, since these bonds were issued between the years 1941 and 1980, many of you may own some of these bonds regardless of your age.

So, what’s the update you ask?

Well, for E Bonds issued from 1941 to November 1965, there was a 40 year maturity with the last of these bonds maturing in the year 2005.  And E Bonds issued from November 1965 to 1980 carried a 30 year maturity.  This means the last of the E Bonds issued in 1980 will mature and cease to earn any additional interest in June 2010.

So after June 2010, if you own some of these E Bonds, you’ll just have a piece of paper that’s worth something, but will not longer be accruing any additional value.  But what is your “something” worth?

You can easily find out at Treasury Hunt®.  Go to this government sponsored website to search for your bond details simply by entering the Social Security number of the bond’s owner or purchaser.  The database goes back to 1974.  To find the current value of any bonds you own, there is a savings bond calculator on the Treasury Hunt® site.

You can redeem E Bonds and other Savings bonds at most banks, however if you go to a bank where you’re not an account holder, there may be fees involved.  Be sure to ask about any fees or charges before redeeming your bonds.