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Savings Bonds

Savings Bonds
« on: January 25, 2012, 10:05:47 PM »
I bought a locker today that had a lot of Savings Bonds in it.  They are EE series and I was curious if anyone has ever gotten any in their locker, and if so can they be transfered into my name.  Any advise would be appreciated.  Thanks in advance.

Offline Alias

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Re: Savings Bonds
« Reply #1 on: January 25, 2012, 10:27:21 PM »
Bonds are nontransferable  securities. Sorry. Only the person who purchased it can cash it or thru court order in the event of death. But only to hiers.



Offline alloro

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Re: Savings Bonds
« Reply #2 on: January 25, 2012, 11:39:15 PM »
Here is an applicable FAQ from the Treasury Department confirming what Alias said. (Last one on the page.)

http://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eefaq.htm#ebay

Offline Alias

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Re: Savings Bonds
« Reply #3 on: January 25, 2012, 11:54:57 PM »
You can look them up online and see if they are even valid. If so, you can return to purchaser and hope for a monetary thank you. Can't even try to sell them back. Aside from legalities the fact is those bonds you hold mean very little. Those are (in very simple, not totally correct terms)  more of a reciept of a contract. The contract being the part of value which is held by the government. So the owners can say thank you for the reminder and file for new "reciepts".

[and for all those fellow economist in the room. I know my terms and explanation is "off" but best way I can explain in simple terms]

Re: Savings Bonds
« Reply #4 on: January 26, 2012, 07:24:14 AM »
Best thing to do is just put them back in with the other personal items and return them to the storage facility.  Items like that, including stock certificates, many times you can't do anything with.  As Alias said you could only hope for a "thank you gift".  I wouldn't try and contact the person as it may be more trouble then worth.  Then they would want "all of their" stuff back that you stole, etc.  If you could even find them when the storage company couldn't.

Re: Savings Bonds
« Reply #5 on: January 29, 2012, 10:27:27 AM »
It was still a good unit without them, but that would have sweetened the deal alot.  Thanks for all the input.


xx
Is the forum u[pdated for daylight savings time?

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