Archive for May, 2007
Us Savings Bonds Info
May 18th, 2007
Question: What do you think these US Savings Bonds might be worth today?
I came across two Savings Bonds given as gifts to my son when he was an infant….over 17 years ago! Are they face value only, or have they accrued interest?
I don’t know much about Savings Bonds, so any info will help! Thanks in advance!
On the back of the bond it says it may be cashed after six months…I am assuming for face value.
There is an issue date…that’s how I knew they were over 17 years old. I want to say these are Series EE Bonds…just your basic savings bond.
Answer: They continue to accrue interest for quite a long time (I’m thinking 30 years) before they stop accruing. They are not worth the face value after 6 months, it depends on the interest rate.
Go here and enter the info and it will calculate the value of your bonds.
http://treasurydirect.gov/BC/SBCPrice
Also, it is possible to redeem these and not pay any taxes on the interest. You can use them for your son’s educational costs when he goes off to college and if your income is below the maximum allowed, then they are not taxed (best to check on the IRS site or with a CPA).
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