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344:. Issued at a discount of the face value, the bonds could be redeemed for the full face value when the bond matured after a number of years that varied with the interest rate at the time of issuance. If not redeemed at maturity, the bonds would continue earning interest for a total of 40 years if issued before December 1965, or for 30 years if issued in December 1965 or later. Series E was replaced by Series EE bonds in 1980, and the last issued Series E bonds ceased earning interest in 2010.
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was set at purchase and remained that rate for 10 years. After 10 years the rate could be adjusted, with interest paid at the new rate for the remaining 10 year life of the bond. After 20 years, the bond would be redeemed for its original purchase price. Issuance of Series HH bonds ended August 31, 2004. Although sales ceased in 2004, Series HH bonds continued to earn interest for 20 years after sale, meaning the last bonds matured in 2024.
309:
1952 to 1979 when it was replaced by Series HH (itself discontinued in 2004), Series J and K from 1952 to 1957, and "Freedom Shares" Savings Notes from 1967 to 1970. In addition, there were special designs for some paper bonds issued during their lifetimes, notably a version of the Series E bonds issued from 1975 to 1976 labeled as a "Bicentennial Bond" and Series EE bonds sold from
December 2001 to 2011 labeled as a "Patriot Bond."
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Columbia, and Puerto Rico. Winners were chosen by state art councils, the news media, sponsors, and volunteers based on criteria of originality, poster design, and visual appeal. The first-place winning artwork from each state was exhibited in
Washington D.C., and photographs of the winning posters with names of the artists and their schools were displayed in major airports across the country and the treasury website.
230:. The Treasury currently issues Series I bonds electronically in any denomination down to the penny, with a minimum purchase of $ 25. Paper bonds as an option for receiving an individual's federal income tax refund will be discontinued January 1, 2025. The paper bonds were issued in denominations of $ 50, $ 100, $ 200, $ 500, and $ 1,000, featuring portraits of
275:
published on May 1 and
November 1 of each year. For example, on November 1, 2021, the most recent CPI-U data that was available was from September 2021, where the non-seasonally adjusted CPI-U was 274.310. Six months earlier, in March 2021 the CPI-U was 264.877. Thus, the percent change was 3.56%. Multiplying this by 2 yields the variable component of 7.12%.
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component will change to the rate that was published in May. During times of deflation, the negative inflation-indexed portion can drop the combined rate below the fixed portion, but the combined rate cannot go below 0% and the bond cannot lose value. Like Series EE bonds, interest accrues monthly and is compounded to the principal semiannually.
120:, Defense Bonds became known as War Bonds. Stamps featuring a Minuteman statue design in denominations of 10¢, 25¢, 50¢, $ 1, and $ 5 were also sold to be collected in booklets which, when filled, could be exchanged to purchase interest-bearing Series E bonds. All the revenue received from the bonds went directly to support the war effort.
195:
If a bond's compounded interest does not meet the guaranteed doubling of the purchase price, Treasury will make a one-time adjustment to the maturity value at 20 years, giving it an effective rate of 3.5%. The bond will continue to earn the fixed rate for 10 more years. All interest is paid when the holder cashes the bond.
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matured after 12 years with no further interest. Series K was sold at face value and would earn interest paid every six months until maturity 12 years later. Series J and K were discontinued in April 1957 while Series H lasted until
December 1979, with a replacement Series HH introduced in January 1980.
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From 1991 through 2000, the
Treasury's Bureau of Public Debt announced an Annual U.S. Savings Bonds Student Poster Contest each fall to promote the sale of bonds with a specified theme. Each spring, nearly $ 100,000 was distributed to winners in grades 4 through 6 across all fifty states, District of
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The interest rate for Series I bonds consists of two components. The first is a fixed rate which will remain constant over the life of the bond; the second component is a variable rate adjusted every six months from the time the bond is purchased based on the current inflation rate. The fixed rate is
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The
Treasury began issuing savings bonds in March 1935, with each of the first four series released sequentially without overlap and under similar terms. These bonds were purchased at 75% of their face value and would mature after 10 years. The interest earned would not be taxed for Series A, B, and
291:
The annual purchase limit for electronic Series EE and Series I savings bonds is $ 10,000 for each series. This limit applies to both purchases and bonds received as gifts (except that bonds received as a beneficiary do not count against the limit). For paper Series I Savings Bonds purchased through
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For bonds issued before May 2005, the interest rate was an adjustable rate recomputed every six months at 90% of the average five-year
Treasury yield for the preceding six months. Bonds issued in May 2005 or later pay a fixed interest rate for the life of the bond. Paper EE bonds, last sold in 2011,
194:
are guaranteed to double in value over the purchase price when they mature 20 years from issuance, though they continue to earn interest for a total of 30 years. Interest accrues monthly, and is compounded semiannually, that is, becomes part of the principal for future interest earning calculations.
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Introduced around the same time as Series E in 1941, the Series F and G bonds offered alternative investment strategies until both were discontinued in April 1952. Series F could be purchased at 74% of the face value and would mature in 12 years with no further interest. Series G bonds were sold at
370:
Series HH bonds were sold from 1980 to 2004, and served as a "current income" bond replacing the older Series H. Unlike Series EE and I bonds, they did not increase in value but instead paid earned interest every six months for 20 years directly to the holder. The interest rate of a Series HH bond
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The U.S. Treasury previously issued bonds in a variety of series, some of which still earn interest today. Series A was issued only during 1935, Series B during 1936, Series C from 1937 to 1938, Series D from 1939 to 1941, Series E from 1941 to 1980, Series F and G from 1941 to 1952, Series H from
274:
for urban areas (CPI-U) for a six-month period ending one month prior to the rate adjustment. Specifically the variable rate is calculated by looking at the percent change over the previous six months of available data, and multiplying the percent change by two to annualize the rate. New rates are
287:
Series EE bonds and Series I bonds have a life of 30 years and cease accruing interest after maturity, but they can be redeemed any time after 12 months from purchase. Treasury has the authority to waive the 12-month holding period for bondholders residing in areas of natural disaster. There is a
278:
As an example, if someone purchases a bond in
February, the fixed portion of the rate will remain the same throughout the life of the bond, but the inflation-indexed component will be based on the rate published the previous November. In August, six months after the purchase month, the inflation
361:
Introduced in May and June 1952 to replace Series F and G, the next three series were H, J, and K (skipping the letter I). Series H was issued at face value and earned interest that was paid every six months until maturity approximately 30 years later. Series J was sold at 72% of face value and
299:
and be either a United States citizen, a legal United States resident, or a civilian employee of the United States regardless of country of residence. Trusts, estates, corporations, partnerships, and other entities may own Series EE bonds if they have a Social
Security Number or Employer
144:
In 2002, the
Treasury Department started changing the savings bond program by lowering interest rates and closing its marketing offices. As of January 1, 2012, financial institutions no longer sell paper savings bonds. That year, the Department of the Treasury's
140:
In 1990, Congress created the Education Savings Bond program which helped Americans finance a college education. A bond purchased on or after January 1, 1990, is tax-free (subject to income limitations) if used to pay tuition and fees at an eligible institution.
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penalty of three months' interest if they are redeemed before five years. Tax on the interest can be deferred until the bond is redeemed. Interest on redeemed bonds is subject to federal income tax but not state or local income taxes.
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After the war ended, savings bonds became popular with families, with purchasers waiting to redeem them so the bonds would grow in value. To help sustain post-war sales, they were advertised on television, films, and commercials. When
43:
to help pay for the U.S. government's borrowing needs. They are considered one of the safest investments because they are backed by the full faith and credit of the United States government. The savings bonds are nonmarketable
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face value and would earn interest paid by check every six months until maturity after 12 years. Both series were issued in denominations of $ 100, $ 500, $ 1,000, $ 5,000, and $ 10,000, with Series F also available as $ 25.
63:
86:. The first Series A savings bond was issued a month later, with a face value of $ 25. They were marketed as a safe investment that was accessible to everyone. Series B, C, and D bonds followed over the next few years.
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was president, he encouraged Americans to purchase them, which stimulated a large enrollment in savings bonds. By 1976, President Ford helped celebrate the 35th anniversary of the U.S. savings bond program.
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reported that the reasons banks gave for this were "the equivalent of 'sorry, we just don’t feel like it.'" Where bonds are accepted, redeeming them can be a very onerous and time-consuming process.
262:. Gulf Coast Recovery Bonds are a special issue of I series issued from March 29, 2006, through September 30, 2007, in order to encourage public support for hurricane recovery, including
318:
C, as well as Series D bonds issued before March 1941. The bonds were issued in denominations of $ 25, $ 50, $ 100, $ 500, and $ 1,000, and can still be redeemed for face value today.
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or otherwise transferred. They are redeemable only by the original purchaser, a recipient (for bonds purchased as gifts) or a beneficiary in case of the original holder's death.
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made savings bonds available for purchasing and redeeming online. U.S. savings bonds are now only sold in electronic form at a Department of the Treasury website,
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could be purchased for half their face value; for example, a $ 100 bond could be purchased for $ 50, but would only reach its full $ 100 value at maturity.
82:
signed legislation that allowed the U.S. Department of the Treasury to sell a new type of security, called the savings bond, to encourage saving during the
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determined by the Treasury Department, which has not disclosed how that rate is set. The variable component is based on the non-seasonally adjusted
40:
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750:"Fiscal Service Aids Savings Bonds Owners in Oklahoma Affected by Severe Storms and Flooding; One-year minimum holding period waived"
990:"Public Debt Begins 10th Annual Savings Bonds Student Poster Contest; Winners Will Receive Close to $ 100,000 in U.S. Savings Bonds"
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Starting January 1, 2025, you will no longer be able to buy paper Series I savings bonds with your tax refund.
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108:, referred to as Defense Bonds, were a major source of financing in the period just before U.S. entry into
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There are two types of savings bonds currently offered by the Treasury, Series EE and Series I.
571:
Vice President Gore Introduces New Inflation-Indexed Savings Bonds, I Bond Ceremony, Jul 8,1998
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As of 2023, redeeming paper savings bonds is very difficult, as most banks decline to do so.
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814:"Treasury Department Sets Online Savings Bond Annual Purchase Limit at $ 10,000 per Series"
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IRS tax refunds the purchase limit was $ 5,000, in addition to the online purchase limit.
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112:. On April 30, 1941, Roosevelt purchased the first Series E bond from Treasury Secretary
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Post WWII $ 25 Series E US Savings Bond (1953) and strip of 10¢ US Savings Stamps
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Identification Number. Trusts and estates may own Series I bonds in some cases.
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A $ 50 Series I United States Savings Bond certificate, which features
617:"NEW I-BONDS GO ON SALE TODAY, WILL EARN 3.40 PERCENT OVER INFLATION"
816:. United States Department of the Treasury Treasury. January 4, 2012
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116:; the next day, they were made available to the public. After the
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issued to the public, which means they cannot be traded on
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642:"Using Your Income Tax Refund to Buy Paper Savings Bonds"
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501:"When Did Cashing Savings Bonds Become So Impossible?"
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Individuals who own either type of bond must have a
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Debt issued by the government of the United States.
1021:American Bonds: How Credit Markets Shaped a Nation
908:
906:
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592:"New savings bonds are protected from inflation"
211:$ 100 Series I US Savings Bond, which features
536:TreasuryDirect Savings Bond Rate Press Release
964:"Government Will Honor Discontinued HH Bonds"
836:"Individual - Buying Series EE Savings Bonds"
531:
529:
8:
1069:Government bonds issued by the United States
861:"Individual - Buying Series I Savings Bonds"
437:"Treasury takes new whack at savings bonds"
410:"Treasury takes new whack at savings bonds"
332:Series E bonds were introduced in 1941 as
74:buys the first Series E bond (May 1, 1941)
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1074:1935 establishments in the United States
1064:United States Department of the Treasury
41:United States Department of the Treasury
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730:. TreasuryDirect.gov. November 1, 2015
666:"What Paper I Savings Bonds Look Like"
180:$ 50 Series EE savings bond featuring
93:Photo mural promoting the purchase of
789:"Tax information on EE & I bonds"
692:"What are Gulf Coast Recovery Bonds?"
408:Pender, Kathleen (December 3, 2007).
226:which have a variable yield based on
218:In 1998, the Treasury introduced the
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713:https://tipswatch.com/qa-on-i-bonds/
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728:"I Savings Bonds Rates & Terms"
435:Pender, Kathleen (July 13, 2011).
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1039:The History of U.S. Savings Bonds
764:"Individual – Education Planning"
550:. U.S. Department of the Treasury
499:Copeland, Rob (October 7, 2023).
883:"Timeline of U.S. Savings Bonds"
548:"Series EE/E Savings Bond Rates"
462:Bortz, Daniel (September 2011).
441:Treasury Department News Release
1044:Treasury Direct Research Center
78:On February 1, 1935, President
464:"Bye-bye, paper savings bonds"
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471:U.S. News & World Report
914:"Other Treasury Securities"
414:The San Francisco Chronicle
33:United States Savings Bonds
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1026:Princeton University Press
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266:, in the affected states.
943:"Series HH Savings Bonds"
147:Bureau of the Public Debt
1018:Sarah L. Quinn. 2019.
918:www.treasurydirect.gov
887:www.treasurydirect.gov
793:www.treasurydirect.gov
768:www.treasurydirect.gov
670:www.treasurydirect.gov
621:www.treasurydirect.gov
340:long after the end of
336:but continued to be a
297:Social Security number
236:Martin Luther King Jr.
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164:Currently issued bonds
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118:attack on Pearl Harbor
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99:Grand Central Terminal
97:, in the concourse of
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375:Annual poster contest
313:Series A, B, C, and D
213:Martin Luther King Jr
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80:Franklin D. Roosevelt
72:Franklin D. Roosevelt
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970:. September 14, 2003
863:. Treasurydirect.gov
838:. Treasurydirect.gov
272:Consumer Price Index
114:Henry Morgenthau Jr.
996:. November 15, 2000
46:treasury securities
994:treasurydirect.gov
505:The New York Times
357:Series H, J, and K
244:George C. Marshall
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158:The New York Times
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968:Los Angeles Times
920:. Treasury Direct
889:. Treasury Direct
672:. Treasury Direct
338:retail investment
182:George Washington
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867:February 9,
842:February 9,
820:January 30,
518:October 14,
397:www.sec.gov
1053:Categories
443:. Treasury
384:References
70:President
974:March 25,
948:April 17,
924:March 23,
893:March 12,
676:March 23,
513:0362-4331
366:Series HH
334:war bonds
228:inflation
172:Series EE
626:July 25,
601:July 25,
577:July 25,
554:July 19,
481:March 1,
477:(8): 128
416:. Hearst
322:Series E
203:Series I
734:June 6,
698:May 30,
264:Katrina
56:History
511:
258:, and
246:, and
467:(PDF)
283:Terms
1002:2023
976:2010
950:2019
926:2022
895:2022
869:2022
844:2022
822:2012
800:2024
775:2015
736:2017
700:2022
678:2022
649:2024
628:2022
603:2022
579:2022
556:2008
520:2023
509:ISSN
483:2017
449:2011
422:2007
35:are
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