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.
by 
hunter1127
ANSWERS: 6
-
Im sure there is interest in there and if it was from 1996, you should have a couple hundred dollars.
-
Go down to a bank and cash it. It is yours.
-
I have one from my grandparents, now deceased, that is even older. I hate to cash it in because it has sentimental value - which is not too smart of me. Depending on the Series it may still be accruing interest or maybe not.
-
Here ya go! . http://www.treasurydirect.gov/BC/SBCPrice . So how much is it worth????
-
i think it only told me that it was worth about 40 something dollars..is that right?
-
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.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC