Old Series E Bond from 1974 Update 9/21/22 Post 9

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Carefreeap
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Old Series E Bond from 1974 Update 9/21/22 Post 9

Post by Carefreeap »

Hello Fellow Bogleheads,

I could use your expertise. I'm cleaning out my dad's stuff from a house he shared with his gf who recently went into assisted living. He died October 8, 2020. In a little strong box I found a series E bond for $500 issued in 1974 in my grandmother's name.

Is it still good and what do I need to do to cash it in? My uncle is the only remaining sibling. There are six remaining grandchildren.

Thanks for your help!
Last edited by Carefreeap on Wed Sep 21, 2022 5:05 pm, edited 2 times in total.
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vineviz
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Re: Old Series EE Bond from 1974

Post by vineviz »

Carefreeap wrote: Sat May 07, 2022 9:15 am In a little strong box I found a series EE bond for $500 issued in 1974 in my grandmother's name.
Are you sure? I'm pretty sure the earliest Series EE savings bonds were issued in 1980.

If the bond was issued in 1974 it is likely a Series E bond and could be redeemed for $2,600.40

Presuming your grandmother is also deceased, the process or redeeming the bonds will depend on how her estate was handled.

https://www.treasurydirect.gov/indiv/re ... edeath.htm

Most likely you'll need to complete Form 5336, have your signature certified, and submit the form along with a certified copy of the death certificate to the Treasury Department.
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ModifiedDuration
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Re: Old Series EE Bond from 1974

Post by ModifiedDuration »

vineviz wrote: Sat May 07, 2022 9:27 am
Carefreeap wrote: Sat May 07, 2022 9:15 am In a little strong box I found a series EE bond for $500 issued in 1974 in my grandmother's name.
Are you sure? I'm pretty sure the earliest Series EE savings bonds were issued in 1980.

If the bond was issued in 1974 it is likely a Series E bond and could be redeemed for $2,600.40

Presuming your grandmother is also deceased, the process or redeeming the bonds will depend on how her estate was handled.

https://www.treasurydirect.gov/indiv/re ... edeath.htm

Most likely you'll need to complete Form 5336, have your signature certified, and submit the form along with a certified copy of the death certificate to the Treasury Department.
Great response.

You are correct that this would have to be a Series E bond, as the Series EE bonds were not introduced until 1980.
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Carefreeap
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Re: Old Series EE Bond from 1974

Post by Carefreeap »

vineviz wrote: Sat May 07, 2022 9:27 am
Carefreeap wrote: Sat May 07, 2022 9:15 am In a little strong box I found a series EE bond for $500 issued in 1974 in my grandmother's name.
Are you sure? I'm pretty sure the earliest Series EE savings bonds were issued in 1980.

If the bond was issued in 1974 it is likely a Series E bond and could be redeemed for $2,600.40

Presuming your grandmother is also deceased, the process or redeeming the bonds will depend on how her estate was handled.

https://www.treasurydirect.gov/indiv/re ... edeath.htm

Most likely you'll need to complete Form 5336, have your signature certified, and submit the form along with a certified copy of the death certificate to the Treasury Department.
You are correct it is a Series E bond. Wow, that's a nice chunk of change!

Thanks for the link.
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cas
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Re: Old Series E Bond from 1974

Post by cas »

I think Boglehead's poster Jack FFR1846 has been dealing with something like this?

Here's a search result of his posts that might interest (appall?) you? Hopefully your situation isn't as complex.

search.php?keywords=EE+savings+bond+aun ... mit=Search
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Carefreeap
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Re: Old Series EE Bond from 1974

Post by Carefreeap »

vineviz wrote: Sat May 07, 2022 9:27 am
Carefreeap wrote: Sat May 07, 2022 9:15 am In a little strong box I found a series EE bond for $500 issued in 1974 in my grandmother's name.
Are you sure? I'm pretty sure the earliest Series EE savings bonds were issued in 1980.

If the bond was issued in 1974 it is likely a Series E bond and could be redeemed for $2,600.40

Presuming your grandmother is also deceased, the process or redeeming the bonds will depend on how her estate was handled.

https://www.treasurydirect.gov/indiv/re ... edeath.htm

Most likely you'll need to complete Form 5336, have your signature certified, and submit the form along with a certified copy of the death certificate to the Treasury Department.
How did you calculate the present value of the bond?

Fortunately my father was a POD beneficiary. He disinherited my brother and I was his executor. Now I'll have to get that paperwork together.

Do you think a bank like B of A will redeem this bond?
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vineviz
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Re: Old Series EE Bond from 1974

Post by vineviz »

Carefreeap wrote: Sat May 07, 2022 8:50 pm How did you calculate the present value of the bond?

Fortunately my father was a POD beneficiary. He disinherited my brother and I was his executor. Now I'll have to get that paperwork together.

Do you think a bank like B of A will redeem this bond?

Treasury Direct has an online bond value calculator:
https://www.treasurydirect.gov/BC/SBCPrice

I'm not sure about your Bank. My guess is that they will not redeem it, but it never hurts to ask. Especially if bot you and your father were customers.
"Far more money has been lost by investors preparing for corrections than has been lost in corrections themselves." ~~ Peter Lynch
cas
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Re: Old Series E Bond from 1974

Post by cas »

Who knows what the particular employee at the particular bank branch at the particular time you are there will or will not do, but here's a link to the instruction booklet (Yes/No decision flowcharts) from the US Treasury that the bank is supposed to follow (recently revised 1/2022). (Plenty of bogleheads have reported the banks diverging from what the official flowcharts say, though.)

You would need the "Legal Representative Not Named on Bond" section, I assume.
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Carefreeap
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Re: Old Series E Bond from 1974

Post by Carefreeap »

Another thank you to Bogleheads!

I received my deposit from Treasury Direct on 8/15 for $2600.40!
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FunOnABudget
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Re: Old Series E Bond from 1974 Update 9/21/22 Post 9

Post by FunOnABudget »

I have an old bond somewhere as well ($25 I think). Is it possible that you can redeem it for money while being able to hold on to it as a keepsake? Like maybe they could punch a hole in it or something for redemption?
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enad
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Re: Old Series E Bond from 1974 Update 9/21/22 Post 9

Post by enad »

FunOnABudget wrote: Thu Sep 22, 2022 11:21 am I have an old bond somewhere as well ($25 I think). Is it possible that you can redeem it for money while being able to hold on to it as a keepsake? Like maybe they could punch a hole in it or something for redemption?
Can you scan or take a picture of it for your keepsake?
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Re: Old Series E Bond from 1974 Update 9/21/22 Post 9

Post by Jack FFR1846 »

You would surrender it. I suppose you could contact treasury direct and tell them that you lost this bond and wish to redeem it. All you need is the serial number, which you have. I had bonds from DW's grandparents including "War Bonds" from during WW2. The oldest being from 1941 and the size was much larger than present day paper bonds. I only documented the serial numbers. Didn't take any pictures.
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