About This Petition - Bring Back Paper US Savings Bonds

About the Bring Back Paper US Savings Bonds Petition:

Since 1935, Americans have been able to purchase paper savings bonds. This American tradition unfortunately ended on January 1, 2012, due to a cost savings measure by the US Treasury Department. They claim it will save the US government about $14 million per year in processing costs (see myths page).

However, this relatively meager savings by US government standards does not equal the loss of benefits to the American people. Over 50 million Americans hold paper saving bonds. They play an important role in teaching young people about saving money, earning interest and American patriotism.

Savings Bonds have traditionally been geared to the needs of lower and middle-class Americans. The majority of savings bonds (over 87%) in 2011 were purchased in a paper format. By making it less convenient (eliminating the primary way these bonds are purchased), and more financially invasive to purchase, The Treasury Department will be discouraging savings.

Additionally, Americans are very dissatisfied with the idea of only offering electronic savings bond purchases. Here are a few reasons why:

	On-line bond purchasing lacks privacy and requires personal banking information be disclosed.
	Investors don’t trust or want the government to keep track of their savings bond information.
	Individuals, especially grandparents, still want to provide a physical bond to the gift recipient.

We respectfully ask that the Department of The Treasury bring back paper savings bonds and keep this American tradition alive.

Sign Petition here