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by hunter1127 on August 16th, 2009

hunter1127

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I just found a U.S. savings bond that i was given as a kid (in 1996). What is it it, what can I do with it (if anything), and how can it be used now? It is a $50 bond.

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  • by Rinky Dinky Do on August 16th, 2009

    Rinky Dinky Do

    This is how it goes. Savings bonds are purchased for half the face amount (in your case, the person who bought it paid $25 in 1996 but got a $50 bond). The trick is that you have to wait until that bond matures (20 years) for it to reach its full value. If you cash it now, you will only get $25 plus whatever interest has accrued. If you wait till 2016, you'll get the full $50, hardly a deal, I know.

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