How to Check the Value of Savings Bonds
Savings bonds are a popular investment option for individuals looking to save money while earning interest. These bonds are issued by the U.S. government and can be purchased at a face value of $50, $100, $200, $500, or $1,000. However, it’s important to know the current value of your savings bonds, especially if you’re considering cashing them in or selling them. In this article, we’ll discuss how to check the value of savings bonds and the factors that can affect their worth.
Understanding the Types of Savings Bonds
Before we dive into checking the value of your savings bonds, it’s essential to understand the types of savings bonds available. The most common types are:
1. Series EE Savings Bonds: These bonds were first issued in 1980 and have a fixed interest rate. They can be cashed in after one year of ownership and mature in 20 to 30 years.
2. Series I Savings Bonds: Introduced in 1998, these bonds have a variable interest rate that adjusts every six months. They can be cashed in after one year of ownership and mature in 30 years.
3. Series HH Savings Bonds: These bonds are available only to individuals who are receiving Social Security benefits. They have a variable interest rate and mature in 20 years.
Checking the Value of Savings Bonds
To check the value of your savings bonds, you have a few options:
1. Online Services: The U.S. Treasury Department offers an online service called “TreasuryDirect” that allows you to view the value of your savings bonds. To use this service, you’ll need to register for an account and link your bonds to your account.
2. Savings Bond Certificate: You can also find the value of your savings bonds on the certificate itself. For Series EE and Series I bonds, the value is listed on the face of the certificate. For Series HH bonds, the value is listed on the back of the certificate.
3. Call the TreasuryDirect Customer Service: If you’re unable to access the online service or find the value on your certificate, you can call the TreasuryDirect Customer Service at 1-844-284-2676. A customer service representative will be able to provide you with the current value of your bonds.
Factors Affecting the Value of Savings Bonds
Several factors can affect the value of your savings bonds:
1. Maturity: The closer your bond is to maturity, the higher its value will be.
2. Interest Rate: Series EE and Series I bonds have a fixed or variable interest rate, respectively. The higher the interest rate, the higher the value of the bond.
3. Inflation: Series I bonds are indexed to inflation, which can affect their value. When inflation is high, the value of the bond may increase to keep up with the cost of living.
Conclusion
Checking the value of your savings bonds is an important step in managing your investments. By understanding the types of bonds, using the available resources, and considering the factors that affect their value, you can make informed decisions about your savings. Whether you’re looking to cash in your bonds or simply keep track of their worth, knowing how to check the value of savings bonds is a valuable skill.
