Death of paper Savings Bond imminent?
Friday, January 14th, 2005
Categorized as: Savings Bond FAQ
It is my understanding that sometime this year the paper savings bond program will be done away with. Have you heard when this might happen?
Tom’s response
This isn’t true. What will happen this year is that people who have Treasury Direct accounts will be able to convert their paper bonds into electronic bonds. This will be voluntary.
Although the Treasury has discussed discontinuance of paper bonds – and you can be sure it will happen someday – there are no active plans for this currently underway.
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Tom Adams
I believe paper bonds have a proper place in educating children to save. They are a tangible item that can be placed into a child’s hands and identified to the child. Attempting to teach a child the concept of a savings bond by pointing out a line on a computer screen somehow doesn’t seem likely to establish the concept meaningfully.
Teaching our young to save for future necessities and exigencies is very important.
I hope paper bonds never go away.
In August 2008, the Treasury released it’s 2009-2014 Strategic Plan, which includes a goal for its Retail Securities Division to “Position Treasury to eliminate new issues of paper savings bonds.”