The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: jeromedawg on July 22, 2021, 03:16:59 PM
-
Hey all,
I have a $75 Series EE bond that reached final maturity. Just out of curiosity I searched for people selling bonds on Ebay and found a bunch. Some mention the bonds were converted electronically, like this: https://www.ebay.com/itm/154445536625?hash=item23f5abdd71:g:uEcAAOSwJ9dgSp6i
Is that person just selling the paper and not the actual bond? I'd be iffy selling any of these on Ebay given they contain SSNs
That said, I read about converting bonds electronically. But at this point, I'm assuming the best thing to do with this is just to bring it to the bank and deposit it (or exchange for cash)?
-
I have some Series EE bonds given to me at birth from family members which are coming up on maturity (the bonds, not the family members) and am just planning to take it to my local credit union to cash it out. I've spoken with a rep there before about this and they said it is quick and painless.
Don't fork around on Ebay selling your bonds, no reason for that at all. I am curious to hear about whether selling them online is legit/legal.
-
I have some Series EE bonds given to me at birth from family members which are coming up on maturity (the bonds, not the family members) and am just planning to take it to my local credit union to cash it out. I've spoken with a rep there before about this and they said it is quick and painless.
Don't fork around on Ebay selling your bonds, no reason for that at all. I am curious to hear about whether selling them online is legit/legal.
Yea I was curious about the Ebay thing because there are a bunch up there - seems shady haha
-
Yeah you can just take it to the bank. That eBay listing looks like they're selling it for collectible value. I wouldn't have expected them to be worth anything, but I learned something new today.
-
Yeah you can just take it to the bank. That eBay listing looks like they're selling it for collectible value. I wouldn't have expected them to be worth anything, but I learned something new today.
Yea that's interesting. It seems you can electronically cash out the bonds. I'd be more concerned about someone having my SSN though...unless the sellers are using Sharpies to black that part out?
-
I was unsuccessful finding a bank that would cash them. I ended up mailing them to the treasury. I can't remember if that was a first step to converting them and then I sold them electronically or if they direct deposited the money on receipt, but either way that ended up being the only way to do it, at least where I live.
-
Woah, that is so strange... Thanks for the update though! I hope all goes well with USPS.
-
Woah, that is so strange... Thanks for the update though! I hope all goes well with USPS.
If you're replying to me, this was a couple of years ago and everything went fine. I kept the number on the bonds (maybe took pictures, I don't remember) since they can be replaced if lost, but it didn't end up being necessary.
-
I've never had trouble with my friendly local credit union taking uncle sam's debt, but I was depositing it into my bank account with them.