Paper Savings Bonds No Longer Issued

The U.S. Treasury stopped producing paper certificates, and now issues savings bonds, notes, bills and TIPS electronically. What does that mean for you?

Savings bonds and other U.S. Treasury securities are still a great way to invest and save, and they make great gifts. But you can no longer buy bonds at a financial institution. The government site to learn about and buy any of these securities and open a free account is

Types of government securities you can buy at
  • Treasury bills—have short-term maturities, from a few days to 1 year.
    Treasury notes—pay interest every 6 months, and mature in 2, 3, 5, 7, or 10 years.
    Treasury bonds—pay interest every 6 months and mature in 30 years.
    TIPS—or Treasury Inflation-Protected Securities, allow principal to adjust with the Consumer Price Index. Interest is paid every 6 months and maturity is 5, 10 or 30 years.
    I-Bonds—earn interest, protect from inflation; buy in amounts from $25 to $10,000.
    E or EE Bonds—pay interest based on market rates, mature up to 30 years; purchase in amounts from $25 to $10,000.

If you buy a savings bond as a gift, the recipient must have a TreasuryDirect account before you can deliver the bond. Remember that bonds must be held at least one year before they can be cashed.
You can also buy bonds by payroll deduction. To do this, set up a payroll savings plan in your TreasuryDirect account and ask your employer to direct deposit from your paycheck.
If you have a paper savings bond that’s mature, you can still redeem it at a financial institution.