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US To Stop Issuing Paper Savings Bonds In 2012

 
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Bedrock Of The Community
United States
12128 Posts
Posted 04/16/2011   10:01 pm  Show Profile Bookmark this topic Add wt1 to your friends list Get a Link to this Message

Quote:
Earlier this month, U.S. Treasury Secretary Timothy Geithner told a U.S. Senate subcommittee that his agency planned to stop issuing over-the-counter paper savings bonds entirely in 2012.


Based on this article, maybe paper savings bonds will be the new collectible of the future?

Actually, I pulled the quote out of the middle of this article (have to scroll halfway down to read it) but I can relate to the entire dilemma of those who choose not to use computers and have difficulty filing taxes, banking and/or investing in the traditional way:

http://blog.oregonlive.com/finance/...rs_want.html
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Pillar Of The Community
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United States
2751 Posts
Posted 08/11/2011   2:56 pm  Show Profile Check Nells250's eBay Listings Bookmark this reply Add Nells250 to your friends list  Get a Link to this Reply
I know I am in the minority, but I do not like doing certain things online. All you ever hear about are computers and accounts being hacked. They tell you your info is secure, but then you find out your credit card or social security number MAY have been leaked to a hacker. It happened this year with the Massachusetts unemployment department. It happened to Sony.

... but soon there will be no choice...
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Valued Member
49 Posts
Posted 10/07/2011   11:11 pm  Show Profile Bookmark this reply Add xquercus to your friends list  Get a Link to this Reply
This topic is being discussed on an investment forum I frequent. For what it's worth, there appears to be a small loophole. From the TresuryDirect press release:

Series I paper savings bonds remain available for purchase using part or all of one's tax refund.

While I don't know about older savings bonds, the current issue I series are nothing special to look at. Even though owners are issued physical bonds, the treasury keeps electronic records. They can't really be counterfeited so there is no need for artful engraving or security features. Just plain Jane documents with no real aesthetic value in my opinion. Coolness-wise they are a step above a bank statement but several steps below currency or well done postage stamps.
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Bedrock Of The Community
United States
12128 Posts
Posted 10/08/2011   12:29 am  Show Profile Bookmark this reply Add wt1 to your friends list  Get a Link to this Reply
I had forgotten about this post from so many months ago. Whatever the outcome, stamp collectors (or in this case, collectors of ephemerma) collect just about anything no matter what the aesthetic appearance may be.

After all, some of us even collect modern issue self-stick postage stamps that are hardly comparable to the beautifully engraved stamps of yesteryear!
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Valued Member
49 Posts
Posted 10/08/2011   3:51 pm  Show Profile Bookmark this reply Add xquercus to your friends list  Get a Link to this Reply

Quote:
Whatever the outcome, stamp collectors (or in this case, collectors of ephemerma) collect just about anything no matter what the aesthetic appearance may be.


How true! Actually, I've thought of credit cards as having some collectible potential some day, so savings bonds certainly wouldn't surprise me now that I think of it.
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Bedrock Of The Community
United States
12128 Posts
Posted 10/08/2011   4:02 pm  Show Profile Bookmark this reply Add wt1 to your friends list  Get a Link to this Reply

Quote:
I've thought of credit cards as having some collectible potential some day


I've thought of that, too. But with all of the present-day concerns over identity theft and what not, I decided against it, as I wouldn't want to sell a credit card as a collectible if I'm endangering my identity (or someone else's) in the process.

Actually, I have an old Getty Gas Credit Card I still keep when they had their own gasoline credit card ... it's about 30 years old now, so I suspect it's something of a collectible.

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