Good-bye paper savings bonds

Technology has overtaken the U.S. savings bonds. After this year, you will no longer be able to buy a paper bond. All purchases will be made electronically. By going totally electronic, the government is expected to save $120 million over five years.

You still will  be able to redeem paper bonds at banks, though.

Since 1935, people have purchased the bonds to fund the government’s operations. The bonds became a traditional gift for a newborn.

The Treasury Department is saying good-bye with an online interactive timeline, which includes cameos of celebrities who promoted the sale of savings bonds over the decades. Check out a clip of Father Knows Best when daughter Betty says she’ll help her dad sell the bonds.

Interesting factoid: War Stamps were introduced during WWII for those who couldn’t afford to buy a War Savings Bond. Stamps ranged from 10 cents to $5 apiece.

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