My wife recently discovered a savings bond in the back of our closet in an old box. Shockingly, it was fully matured, and we were able to cash it in. For a long time, U.S. savings bonds were a popular gift for birthdays, graduations, weddings, and holidays. They got tucked into drawers, boxes, filing cabinets, etc.
Today, billions of dollars in matured savings bonds remain unclaimed, and many Americans have no idea they still own them. Some bonds stopped earning interest years ago, yet their owners never redeemed them. If you’ve inherited paperwork from parents or grandparents (or simply haven’t cleaned out your filing cabinet in years), you could be sitting on a surprising financial asset. Here’s what you need to know.
