OT but for a good casue- Cashing in Savings Bonds? - Off-Road Forums & Discussion Groups
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post #1 of (permalink) Old 08-10-2004, 12:44 AM Thread Starter
 
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OT but for a good casue- Cashing in Savings Bonds?

It's time for me to start thinking about a new truck and i need to cash in a bunch of government savings bonds to buy the new truck. How the heck do you cash them in? Take them to the bank? I have no idea and would like the cash the new tow rig might even be a jeep.

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BarrelRoll
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post #2 of (permalink) Old 08-10-2004, 10:05 AM
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Re: OT but for a good casue- Cashing in Savings Bo

Take them to any bank. They can calculate how much they are worth now (remember they take 7 years to reach their face value), and they will also skim off any taxes (as a student you can get it all back when you file your 1040).
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post #3 of (permalink) Old 08-10-2004, 10:25 AM
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Re: OT but for a good casue- Cashing in Savings Bo

Be forwarned, not all savings bonds mature fully in 7 years. I just found out that the ones everyone has been buying for my kids mature in like 30 years lol.
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post #4 of (permalink) Old 08-10-2004, 10:26 AM
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Re: OT but for a good casue- Cashing in Savings Bo

some may take longer than 7 years to mature...depends on what series they are and what the interest rate is/was...but...like was already said...the bank will tell you what theyy're worth and give you the cash for them.

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post #5 of (permalink) Old 08-10-2004, 11:15 AM
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Re: OT but for a good casue- Cashing in Savings Bo

Learn more about your Savings Bonds here . Somewhere on the site is a SB calculator...will let you know just what those bonds are worth.
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post #6 of (permalink) Old 08-11-2004, 10:49 AM
 
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Re: OT but for a good casue- Cashing in Savings Bo

series e bonds mature in 40 years. series ee bonds mature in 30 years. this does not mean you can't cash them in, just that they will not be at their full value if you cash them in before their maturity. for example: i work at a bank and i just had a customer come in and cash a $500 dollar series e bond from 1963 (fully matured), which he bought for $375 and it was worth well over $3000. that's what full maturity is. when it reaches it's peak it stops earning interest. hope that helped.
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