The US Treasury announced today that paper savings bonds will no longer be sold at financial institutions beginning January 1, 2012. Although paper bonds will no longer be available through institutions, they will still be available when purchased using your tax refund or as a replacement for reissued, lost, stolen, or destroyed paper bonds.
The move to cut paper bonds is said to save over $70 million in the first five years. All bond purchases from consumers will now be through TreasuryDirect.
There is no indication how this change will impact the current purchasing limit of $5,000 electronic and $5,000 paper bonds per year.
