Almost two years ago, Hurricane Sandy caused flooding and property damage in areas that aren’t accustomed to dealing with heavy storms. While one woman in Massachusetts was cleaning up damage from that storm, she discovered some hidden treasure in an attic crawlspace: savings bonds that were more than 30 years old and had been stashed there for safekeeping. The bonds were safe, but they didn’t belong to her. Who did they belong to? [More]
Viewers of clutter-gore programs like A&E’s “Hoarders” know that junk haulers are some of our society’s unsung heroes. Emptying homes of crap no one wants is an important job. What people don’t realize, though, is that junk haulers do find the occasional treasure. One Massachusetts hauler recently found $114,000 worth of U.S. savings bonds inside a wooden hope chest that was being broken down for a trip to the dump. He surprised the owner’s daughter with the paper bonds while reality TV cameras just happened to be rolling.
The Treasury announced last week that, in order to save money, they’re going to stop selling paper saving bonds after Jan 2012. Gone will be the days when a grandparent could walk down to the bank and sock away $50 every year to make an ironclad investment for their grandchildren. But there is a bit of a “backdoor” way you can still buy them without having to go through their weird online “gift box.” It will also let you buy more bonds than the $5,000 limit. What you do is use your tax refund to buy them through the IRS using form 8888.
It’s the end of an era. In an effort to save cash and cut down on waste, the Dept. of the Treasury announced earlier this week that paper savings bonds will be a thing of past starting January 1.
Daniel thought his government savings bonds would help pay his tuition, wasn’t sure whether they had matured after 15 years, and headed to his Bank of America branch to see if they had and cash them out. He said the bank gave him confusing advice that wound up in his cashing his bonds for less than full price. He writes: