US Savings Bonds

Did you know that US Savings Bonds were sold over the post office counter? In fact, when Savings Bonds were initiated in 1935, the Post Office Department was the exclusive sales agent for the bonds - the only other place to get them was directly from the Treasury Department. This later changed to federal reserve banks, then other banks and many other places. Most offices stopped selling bonds over the counter at the end of 1953, but I haven't quite nailed down yet when the final end of sales occurred. The example here is a late one, from Berry AL in 1957.

I'm working on an article showing the connections between post offices and savings bonds. Does anyone happen to have a pre-1942 savings bond around?

For those interested, here's a sample of Series A:

I'd also be interested in seeing bonds sold by a post office from 1954 or later. I determined later last night that the final end of post office sales of savings bonds was March 26, 1977 [reported in the April 7, 1977 Postal Bulletin], at which time 234 post offices sold bonds.

paper, just in case you haven't seen these tables:

https://www.treasurydirect.gov/indi...curities.htm

You might find this link interesting...
http://13thdimension.com/captain-am...ants-off-us/

It makes perfect sense that the Post Office would sell savings bonds, since they were also selling postal savings stamps. What better place to convert your completed booklet of stamps into a bond?

Thanks for the link - interesting writeup. Bond and stamp advertising was absolutely ubiquitous during the war, including in comic books. I have one issue of Captain Midnight put aside if I ever do a display exhibit on the war savings material - there were a few issues of comic books that actually showed images of the savings stamps on the front cover.

The postal "monopoly" on savings bonds went out the window when the Series E bonds ("Defense Savings Bonds", later "War Savings Bonds") were introduced on May 1, 1941 [the same day the 1941 postal savings stamps were issued]. The series E bonds rapidly became available from commercial banks and through corporate payroll operations, and post offices became a relatively minor contributor to sales. The stamps were sold through post offices, but frequently in bulk for resale in school programs and by newspaper carriers. (though it's also true that mail carriers and rural carriers had the stamps and sold them on demand).

Have you taken a look at the Heritage Auction archive?

I found this one from 1913 which might be older than you're after http://currency.ha.com/itm/miscella...tion-071515#

-MV

Meadowview - Yes, I have seen the image. It's the only Postal Savings bond I've seen. I don't own it. Would love to find another one!

[As additional background, the Postal Savings Bond was a predecessor of the Savings Bond - they functioned as part of the postal savings system and provided slightly higher interest rates in return for loss of flexibility in withdrawal of funds and redemption]. The last issue of Postal Savings Bonds was in July 1935, shortly after the startup of the Series A Savings Bonds.

Too bad the Post Office is no longer selling the Savings Bonds. They do sell Postal Money Orders. I remember buying many $50 bonds through my employer Liberty Mutual Insurance Co. automatic payroll deduction program in the mid 1980's. Every month an envelope from Treasury Dept would arrive in my mailbox.

You can no longer buy paper Savings Bonds either. They are all electronic now.

The Series E bond shown above earned interest for 40 years, and is now worth $199.90 (if you are one of the Shepherds or a descendant).

Robert

Oh brother, now when their electronic files are compromised by cyber attacks, puff goes the records!

The only way to buy paper Savings Bonds is by the tax refund method. https://www.treasurydirect.gov/indi...ture.htm#buy

I don't know anyone that has used the tax refund method.

-MV

Thanks for the heads up MC.