Petition to bring back paper Savings Bonds

Thursday, February 2nd, 2012
Categorized as: Savings Bond historySavings Bond news

Marc Prosser, founder of www.LearnBonds.com has started an online petition to bring back paper Savings Bonds. His petition has been covered by Lou Carlozo at Reuters and Kathleen Pender at the San Francisco Chronicle.

The following quote from Carlozo’s article sums up the story very nicely.

Prosser is upset that the U.S. Department of the Treasury stopped selling paper bonds as of January 1, and his manifesto, posted on his website, reads in part: “Over 50 million Americans hold paper saving bonds. For many of these people (including myself), a savings bond served as introduction to the idea of saving money and earning interest.”

In other words, eliminating paper savings bonds takes away a great tool for parents and grandparents to teach an otherwise abstract financial concept: compound interest.

“It’s hard to grasp, but what is very easy — and tactile — is having the physical certificate that the interest represents,” says Prosser. “It’s not just a string of digital numbers. This is something practical, and it teaches people how to save money. It’s a great teaching prop: an oversized piece of paper that doesn’t look like anything else.”

I’m quoted in both stories and you can tell my passion for this issue dissipated long ago, but Processor makes a good point about the value of Savings Bonds as a teaching tool. It’s a point I’ve been wrong to discount as much as I have.

Rate this post (1 to 5 stars):  1 Star2 Stars3 Stars4 Stars5 Stars
(Average rating: 4.71 stars)
Loading...

FDIC Insured Certificates of Deposit can pay 1 or 2% more than savings bonds when held for a similar length of time. See top CD Rates Below:

No comments yet.

Comments Closed

June 1, 2010

After six years, over 400 posts, 3,680 real comments, and over 90,000 spam comments (thank you, Akismet, for making managing a blog with comments possible), I am closing public comments on Savings-Bond-Advisor.com. I will contine to update the main articles on this site, but not the comments.

Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.

Tom Adams

Savings Bond Calculator



Help

Savings Bond
Questions

Get an answer to your questions from the Treasury's Savings Bonds team.

Click below to ask a question.

Ask the Treasury

TreasuryDirect

Invest online in Savings Bonds or
marketable Treasury securities.

Deal directly with the U.S. Treasury.

More info

Enroll

Log in