Where to cash out a treasury bond

Archived From: Finance
  • Page :
  • 1
  • Text Only
Voting History
rated:
guys - I have a gift in form of a series EE issued in June 1997 with a face value of $100. The treasury website showed its current value to be $220 but at Chase, they said their system shows $103. I just want to get rid of it as it seems to be a poor investment. Is it worth keeping it till maturity (don't even know when that is) and what bank would honor the correct value

thanks

Member Summary
Treasury Direct has the answer0
https://www.treasurydirect.gov/BC/SBCPrice
Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

You do not mention what month you bought the bond. Assuming the bond was bought in 12/1997, the current value is $102.60

A $100 face value bond was purchased for $50.


Cash it out at Chase. It's worth about 103.
Where did you see it's worth $220? Maybe if you buy a bond today you get $220 at the end of 20 years

Purchased June 1997

And the purchase amount?

(Why did you buy it? Is it underperfoming your expectations?)

If you really think chase is trying to screw you, have them certify your signature and mail them to the treasury for redemption.

Calculate value here: https://www.treasurydirect.gov/BC/SBCPrice

lodak008 said:   Purchased June 1997
  The current value is $103.32.   $50 purchase price plus $53.32 in interest.

lodak008 said:   I just want to get rid of it as it seems to be a poor investment.A 105% return over 19 years is pretty good for an investment with zero risk.

BTW OP, you know that a 1997 Savings Bond Matured in 2014 right? (17 years) and stopped earning interest?


Issue Date Original Term
01/80 - 10/80 11 years
11/80 - 04/81 9 years
05/81 - 10/82 8 years
11/82 - 10/86 10 years
11/86 - 02/93 12 years
03/93 - 04/95 18 years
05/95 - 05/03 17 years
06/03 - present 20 years

Check it out yourself at Treasury Direct. https://www.treasurydirect.gov/BC/SBCPrice

forbin4040 said:   BTW OP, you know that a 1997 Savings Bond Matured in 2014 right? (17 years) and stopped earning interest?


Issue Date Original Term
01/80 - 10/80 11 years
11/80 - 04/81 9 years
05/81 - 10/82 8 years
11/82 - 10/86 10 years
11/86 - 02/93 12 years
03/93 - 04/95 18 years
05/95 - 05/03 17 years
06/03 - present 20 years

  
The 17 years is original term, or the time period over which the Treasury guarantees the value of the bond will reach face value.  The bond will continue to earn interest for a total of 30 years.

xoneinax said:   lodak008 said:   I just want to get rid of it as it seems to be a poor investment.A 105% return over 19 years is pretty good for an investment with zero risk.

It's about 3.75% annually. Not terrible these days, for a risk-free investment. (Of course, new money rates today are worse, and I would be content with a nice 3.75% CD.)

I've cashed EE bonds at my credit union.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017