March 14, 2013
D EAR HARRY: Is the federal government trying to discourage the sale and redemption of E and EE savings bonds? Has funding for the Treasury Department been cut? Are future cuts pending? Redeeming the old paper bonds has become a nightmare. We no longer can buy paper bonds, either. The Treasury says they will be issued only as part of a tax refund. Now, it appears that you can buy "electronic" bonds only online through a ridiculously complicated process for even the more-savvy computer users.
January 23, 1992 |
In case you didn't notice, U.S. Savings Bonds purchased in December haven't yet arrived in the mail. Not to worry. Those Christmas gift bonds aren't lost or stolen - simply delayed. It seems the Fed couldn't handle the added crush of customers shopping for higher interest rates on various U.S. Treasury securities. The Federal Reserve Bank of Philadelphia is buried under an avalanche of 100,000 bond applications in December from Christmas shoppers and refugees from low-interest bank deposits and money market funds.
January 27, 1986 |
If buying U.S. savings bonds is a way of buying stock in America, no state in the union is more patriotic than Pennsylvania. During the first 11 months of last year, Pennsylvanians bought $573.5 million worth of series EE and HH savings bonds - more than any other state. Only six states, in fact, topped the total of $198.7 million logged by Philadelphia, Bucks, Chester, Delaware and Montgomery Counties alone. And that already voracious appetite for savings bonds is increasing.
February 12, 1990 |
Beginning this year, parents who buy U.S. savings bonds and use them to pay for their children's college tuition may qualify for a tax break: The bonds can earn interest tax-free. The favored tax treatment applies to Series EE bonds purchased after Jan. 1. But to qualify, a family must meet certain income requirements and have purchased the bonds in the name of one or both parents. When the bonds are redeemed, they must have a child enrolled in an accredited institution. However, some tax experts say the Education Savings Bond Program is not such an all-around great deal.
November 2, 2010 |
Sorry, savers of a certain age, but the rates on some of your savings bonds just went down again. For the Series I Savings Bond, the rate will be 0.74 percent on bonds bought between Monday and April 30, 2011, the federal Bureau of the Public Debt announced Monday. That includes a fixed rate of 0 percent, which applies for the 30-year interest- bearing life of the bond, and an inflation-adjusted rate of 0.74 percent. That variable rate changes every May 1 and Nov. 1. At least the calendar period used by the Treasury Department actually found some inflation this time.
April 3, 1990 |
Beginning yesterday, people who buy U.S. savings bonds in eastern Pennsylvania will have to wait for up to three weeks before they are delivered. The U.S. Treasury has changed the way bonds are purchased from banks and other financial institutions. Instead of receiving the bonds directly at the time of purchase, customers now must fill out forms and have the bonds mailed to them within 15 working days. The Regional Delivery System first was tested in Ohio in 1987, and Western Pennsylvania was added last June.
November 16, 1993 |
For three days, people pored over valuables left behind by unfortunates - the victims of amnesia, the friendless dead, the lost and forgotten - in search of bargains. They scrutinized mink coats, gold watches, wedding bands. It almost didn't seem right. Then again, money's money. In this case, $239,647 was collected by the state Treasury for 5,301 items that had been squirreled away and left unclaimed for more than seven years in places such as safety-deposit boxes. "People are very private about their financial affairs," said Michael W. Arpey, general counsel to State Treasurer Catherine Baker Knoll.
July 9, 1998 |
The government will start selling a new U.S. Savings Bond in September that is meant to protect investors against inflation as they save for retirement, college or other expenses. Starting Sept. 1, the Treasury Department will sell savings bonds indexed to the Consumer Price Index in denominations as small as $50. They will be issued at face value. Vice President Gore and Treasury Secretary Robert Rubin introduced the new savings bonds - dubbed I-bonds - in a ceremony yesterday.
November 10, 1998 |
A King of Prussia teenager has been charged with conspiring to steal a box containing $104,000 in U.S. Savings Bonds from her 81-year-old grandmother's house. Police said Alisha Kathryn Linfante, 18, of the 600 block of Coates Lane, was arrested last week at her boyfriend's Royersford home after her father's mother, Margaret Linfante, reported to police that the bonds had been stolen from a fireproof safe in her closet. "I noticed the closet door was open, and my safe, which I had wrapped in a quilt, was gone," Margaret Linfante of Eagleville said yesterday.
May 11, 1994 |
U.S. Savings Bonds may sound old-fashioned, but they're still great gifts for birthday, graduation or bar mitzvah. Offering decent returns and ironclad security, savings bonds are an attractive alternative for people whipsawed by plunging stock and bond prices and low returns on bank deposits. The minimum return on Series EE savings bonds is 4 percent for the first five years. But the variable rate, which kicks in after five years, jumped to 4.7 percent this month. Even the guaranteed 4 percent return is better than many other risk-free investments.