Treasury Department Unclaimed Saving Bonds

The Treasury Department has quite a few unclaimed savings bonds. The Treasury Department unclaimed bonds total in the amount of 16 billion dollars. Now several state attorney offices are suing the Treasury department because they have alleged that the department has not done enough to find these people and return their money. The unclaimed saving bonds in question where sold from the patriotic push for purchasing war savings bonds all the way up to 1980.

Many people purchased these saving bonds but have never cashed them so they essentially became unclaimed. Most states have unclaimed money departments and they try to find the owners of unclaimed bonds and other unclaimed money, but it appears the Treasury Department has not performed the same due diligence for finding the owners of these unclaimed bonds.

Of course this is not surprising since the Federal Government is in so much debt they probably do not have 16 billion to pay out to the holders of these unclaimed bonds. A lot of these unclaimed bonds are likely locked up in attics or  storage chests and where purchased by someone’s grandmother or grandfather but never cashed in . Over time they have been forgotten about. So I wonder if any of my older relatives has any unclaimed bonds lying around the house. I’ll need to check and see if I can get a hold of any unclaimed bonds which the treasury department are holding onto.

 

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