2007-03-13 12:08:49 · 12 answers · asked by dreuuu 2 in Business & Finance ➔ Investing
No, you have to take them to a bank, credit union, etc. to cash them in. Once they've reached their final maturity date, they stop earning interest, but will maintain their value so it's not like you lose all the money if you don't cash it in...you just don't get any more interest.
2007-03-13 12:15:51 · answer #1 · answered by Dave W 6 · 1⤊ 1⤋
Depending on when they were purchased, they usually mature in15 years, but continue to earn interest for 30 years. You can go to any bank with id and cash them in as long as they are at least a year old. You can also just find out how much they are worth, or just do it yourself online at www.savingsbonds.gov
They do not automatically send you the proceeds though. Also remember that when you cash them in you will get a 1099 because you have to claim that interest on your taxes.
2007-03-13 12:17:35 · answer #2 · answered by Nefertiti 2 · 0⤊ 1⤋
i've got in no way gotten that one in the past, although that's humorous. i'm a Christian, certainly one of Jehovah's Witnesses. i contemplate whether the senders certainly think of we don't go out throughout wintry climate. i be attentive to from my own frozen butt that AIN'T real:D i don't be attentive to why you bought it, even though it appears like they are only attempting to make themselves, or probably himself seem good. I have been given an e mail no longer some time past promoting for some meant group that ought to quickly be "exposing" my ideals all over the media. I waited, no longer something got here approximately. no longer staggering. probably purely a crackpot.
2016-11-25 01:23:40 · answer #3 · answered by ? 4 · 0⤊ 0⤋
No you have to take them to the bank to cash them in.
I mailed a stack of US Bonds to my mother years ago that three different lawyers told me were worthless, that supposedly had a face value of over 20,000 dollars. The lawyers told me that since the names of the family members on the bonds were all dead, and other complications, that it would take more than the bonds' value to probate it.
After that experience, I would *never* purchase US Bonds.
2007-03-13 12:21:06 · answer #4 · answered by Clown Knows 7 · 0⤊ 1⤋
You have to cash them in yourself. If you just happen to live in DC, you can visit the Treasury Dept and get the cash right from them - but beware - they sometimes pay using fake bills.
2007-03-13 12:16:11 · answer #5 · answered by MrKnowItAll 6 · 0⤊ 1⤋
historically the bonds aren't a very high-yielding investment, but they are safe. i have quite a few that have come due over the years but i've decided to hang onto anyway. you definitely won't lose money by keeping them and with the stock market as volatile as it is right now, it might be a good time to hang onto them!
2007-03-13 12:15:37 · answer #6 · answered by Steve 3 · 1⤊ 0⤋
if you decide to get the proceeds...you can go to any bank and negotiate the bonds...you wil be paid your interest and given a receipt that you have to file on your taxes as interest income...good luck
2007-03-13 12:21:53 · answer #7 · answered by Michael K 5 · 0⤊ 0⤋
http://www.treasurydirect.gov/
you can get detailed information on that website.
Or visit your bank. You will most likely have to fill out a 1099 tax form since it is income.
2007-03-13 12:19:02 · answer #8 · answered by jprofitt303 5 · 0⤊ 0⤋
Take it to bank of America, I think they cash it there.... if they don't they can guide you on where to go cash it..
2007-03-13 12:23:13 · answer #9 · answered by Rain L 5 · 0⤊ 0⤋
I doubt it. You have to cash them in. I'm no expert, but I believe that's the way it works.
2007-03-13 12:12:00 · answer #10 · answered by Fordman 7 · 0⤊ 1⤋