Figuring out how much a savings bond is worth can be tricky. Typically, a $200 savings bond is not worth exactly $200. This is because a bond collects interest. It won’t reach its face value for 20-to-30 years. But what if you want to know what your bond is worth today? There’s a quick and easy way to find out.
TL;DR (Too Long; Didn't Read)
To calculate the value of a $200 savings bond, visit the TreasuryDirect savings bond calculator and enter today's date, the bond series, the bond amount, the bond serial number and the bond's issue date.
How a Savings Bond Works:
A savings bond is issued by the U.S. Department of the Treasury. Bonds are a handy way for the government to generate income to help pay off debts. Most savings bonds are purchased at half of the face value. So, if you have a $200 bond, it was purchased for $100. It should reach its face value of $200 after 20-or-30 years, depending on the type of bond you have. Savings bonds usually stop collecting interest 30 years after they’re issued.
Compared with other high-risk forms of investment, buying a savings bond is extremely safe. The U.S. government backs these bonds in good faith. This means you are guaranteed to be paid out whenever you trade your bond in, so long as you’ve had it for 12 months.
Calculating the Bond's Value
The good news is, you don’t have to wait 30 years to cash out your savings bond. After you’ve had it for 12 months, it’s eligible for trade-in. However, if your bond is less than five years old, you will lose three months of interest when you cash it out.
If you want to figure out the value of your savings bond today, first locate its serial number, issue date and series. The serial number should be in the bottom right-hand corner of the bond. The issue date and series will be located in the upper right-hand corner. Note that some bond series, such as A, B, C, D, F, G, H, HH, J and K are already worth their face value.
Now it’s time to visit the U.S. Department of Treasury’s website, TreasuryDirect. They have a useful calculator that allows you to easily figure out the value of your bond. You simply provide the bond’s serial number, issue date, series and face value and press “calculate.” Just like that, you’ve got your bond’s face value today.
Trading in Your Bond for Cash
You’re ready to cash your bond in. Now what? If you have a paper bond, you can cash it in at almost any financial institution, such as your local bank. This is the easiest and most popular way to cash in a bond. Over 95 percent of bonds are cashed in at banks. Another option is to send your bond to the Department of Treasury by mail. This will take a little longer to process.
If you have an electronic bond, you can cash it in on the TreasuryDirect website. First, you will need to create an account login. After you trade in your electronic bond online, the money will show up in your savings or checking account within a few business days.
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Writer Bio
Chelsea Levinson earned her B.S. in Business from Fordham University and her J.D. from Cardozo. She has been writing professionally for more than ten years. She has created personal finance content for Bank of America, H&R Block, Huffington Post and more.
FAQs
U.S. Savings Bonds mature after 20 or 30 years, depending on the type of bond: Series EE bonds mature after 20 years. They are sold at half their face value and are worth their full value at maturity. Series I bonds are sold at face value and mature after 30 years.
What is a $100 savings bond worth after 30 years? ›
How to get the most value from your savings bonds
| Face Value | Purchase Amount | 30-Year Value (Purchased May 1990) |
|---|
| $50 Bond | $100 | $207.36 |
| $100 Bond | $200 | $414.72 |
| $500 Bond | $400 | $1,036.80 |
| $1,000 Bond | $800 | $2,073.60 |
U.S. Savings Bonds mature after 20 or 30 years, depending on the type of bond: Series EE bonds mature after 20 years. They are sold at half their face value and are worth their full value at maturity. Series I bonds are sold at face value and mature after 30 years.
How do you calculate how much a bond will be worth? ›
Bond valuation, in effect, is calculating the present value of a bond's expected future coupon payments. The theoretical fair value of a bond is calculated by discounting the future value of its coupon payments by an appropriate discount rate.
How much is a Series EE bond worth after 20 years? ›
We guarantee that the value of your new EE bond at 20 years will be double what you paid for it.
How long does it take for a $100 EE savings bond to mature? ›
All Series EE bonds reach final maturity 30 years from issue. Series EE savings bonds purchased from May 1995 through April 1997 increase in value every six months.
Do savings bonds double every 7 years? ›
Series EE savings bonds are a low-risk way to save money. They earn interest regularly for 30 years (or until you cash them if you do that before 30 years). For EE bonds you buy now, we guarantee that the bond will double in value in 20 years, even if we have to add money at 20 years to make that happen.
Why is my savings bond worth so little? ›
The market price of a bond is influenced by investor demand, the timing of interest payments, the quality of the bond issuer, and any differences between the bond's current yield and other returns in the market.
When should you cash in savings bonds? ›
You can get your cash for an EE or I savings bond any time after you have owned it for 1 year. However, the longer you hold the bond, the more it earns for you (for up to 30 years for an EE or I bond). Also, if you cash in the bond in less than 5 years, you lose the last 3 months of interest.
How hard is it to cash a savings bond? ›
You can redeem a savings bond online at the Treasury Department's TreasuryDirect website, by mail or at your local bank or credit union, if they offer the service. Your savings bond must be at least a year old, and you'll need government-issued identification to prove that the bond is yours.
Otherwise, you can keep savings bonds until they fully mature, which is generally 30 years. These days, you can only purchase electronic bonds, but you can still cash in paper bonds. There are a few types of bonds you may have: Series E/EE, Series I, or Series H/HH.
How do you cash out savings bonds? ›
The only option for cashing electronic savings bonds is by logging in to your TreasuryDirect account online. If you have paper savings bonds, you can fill out the appropriate form and mail it and the bonds you want to cash to the Treasury Retail Securities Services — the address is listed on FS Form 1522.
Are savings bonds a good investment? ›
Bonds remain a safe, easy way to save and earn money over time. The Treasury guarantees to not only pay you back – but to double your initial investment over 20 years.
Should I cash my EE savings bonds after 20 years? ›
At 20 years, it is guaranteed to double in value, so it will then be worth $20,000. By year 30, when it matures, the bond is worth $24,646.56, earning you an extra $14,646.56. Depending your financial goals, you may decide to cash in before the bond matures.
How much is a $50 Patriot bond worth after 20 years? ›
After 20 years, the Patriot Bond is guaranteed to be worth at least face value. So a $50 Patriot Bond, which was bought for $25, will be worth at least $50 after 20 years. It can continue to accrue interest for as many as 10 more years after that.
Are EE bonds ever worth more than face value? ›
The bond isn't worth its face value until it matures. (The U.S. Treasury Department no longer issues EE bonds in paper form.) Electronic Series EE Bonds are sold at face value and are worth their full value when available for redemption.
What is the final maturity of a $100 savings bond? ›
They're available to be cashed in after a single year, though there's a penalty for cashing them in within the first five years. Otherwise, you can keep savings bonds until they fully mature, which is generally 30 years. These days, you can only purchase electronic bonds, but you can still cash in paper bonds.
Do savings bonds increase in value after 30 years? ›
If you moved your EE bond into a TreasuryDirect account, we pay you for the bond as soon as it reaches 30 years and stops earning interest. If you still have a paper EE bond, check the issue date. If that date is more than 30 years ago, it is no longer increasing in value and you may want to cash it.
Do I bonds double in 30 years? ›
EE Bond and I Bond Differences
The interest rate on EE bonds is fixed for at least the first 20 years, while I bonds offer rates that are adjusted twice a year to protect from inflation. EE bonds offer a guaranteed return that doubles your investment if held for 20 years. There is no guaranteed return with I bonds.
Should I wait 30 years to cash in savings bonds? ›
If you want full value, you should hold the Series EE bonds at least until maturity, and if you want extra, you can hold them until 30 years. But once 30 years have passed, it's a good idea to cash them in because you won't get any extra benefit.
