United States Savings Bonds are a type of debt issued by the Treasury Department. These bonds are non-marketable securities, meaning that they are not exchangeable between parties once issued. Savings Bonds can only be redeemed by the owner of record or, in the case of death, their estate. The U.S. Savings Bond program began in 1935 during the Roosevelt administration and continues today.  Known originally as Defense Bonds and War Savings Bonds, these securities helped raise some $185 billion for WWII alone.  Six million volunteers helped to sell some one billion individual securities for the war effort. After the war, the Savings Bond program continued alongside the sale of traditional Treasury securities. Larger war bond certificates eventually gave way to the punch-card (and later paper stock) smaller Savings Bonds most Americans are familiar with.  Known often as gifts for graduations, birthdays, and other commemorations, Savings Bonds have played an important part in the household finances for many American families. As with all things paper, the Treasury Department has migrated to the electronic sale and record-keeping of these securities. The sale of all paper Savings Bonds ended in 2012, save one exception thus far: individuals can request that part of their IRS refund be issued as a paper Series I Savings Bond. 

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*Please note that the U.S. Savings Bonds presented here have been restored for privacy and display purposes.