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Over the Counter Sales of Paper Savings Bonds Ending in 2011

The U.S. Department of the Treasury will end over –the-counter sales of paper savings bonds on December 31, 2011, including sales through financial institutions and applications mailed directly to the Federal Reserve Bank by customers.  This move is expected to save taxpayers an estimated $70 million over the next five years.

Although paper bonds are being discontinued, electronic Series EE and Series I Bonds will remain available for purchase via TreasuryDirect.  This secure, web-based system, operated by the Bureau of the Public Debt, has been used by investors since 2002 to purchase savings bonds online.

Electronic savings bonds are secure and convenient to manage through TreasuryDirect, and investors no longer have to worry about misplacing, losing or storing savings bonds.  In addition, with a TreasuryDirect account, customers can purchase electronic savings bonds as gifts and also convert paper savings bonds to electronic.

Customers have until the close of business on December 31, 2011 to submit their final paper purchase applications.  Paper bonds can continue to be redeemed at financial institutions and any that have not yet matured but are lost, stolen or destroyed can be reissued in paper or electronic form.

For more information, visit www.treasurydirect.gov