A $50 savings bond's current value depends on when you bought it and which series it is

A $50 savings bond purchased today costs $25 (you buy at half face value). But if you own an older bond, its worth far more than $25 now — possibly $50 or more. The exact amount depends on three things: the series (Series EE or Series I), the purchase date, and how long you have held it.

Series EE bonds purchased before May 2003 are may provide to double in value after 20 years, so a $25 purchase becomes $50. Series EE bonds bought after May 2003 earn a fixed rate set when you buy, plus a variable rate that changes every six months. Series I bonds earn a combined fixed and variable rate that adjusts every six months based on inflation.

You can check the exact current value of any bond you own by visiting TreasuryDirect.gov, entering the bond's series, denomination, and issue date into the Savings Bond Calculator, and getting an immediate figure.

Key Takeaways

  • A $50 Series EE bond purchased today costs $25 and will be worth at least $50 in 20 years, but is worth more than $25 right now if you bought it before May 2003.
  • Series EE bonds purchased after May 2003 earn a fixed rate plus a variable rate that changes twice yearly, so their value grows differently than older bonds.
  • Series I bonds earn a rate that combines a fixed portion (locked in at purchase) and a variable portion (adjusted every six months for inflation).
  • The TreasuryDirect Savings Bond Calculator will show you the exact current value of any bond if you enter its series, purchase date, and denomination.

How Series EE bonds purchased before May 2003 work

If you bought a $50 Series EE bond (paying $25) before May 2003, the U.S. Treasury may provide it would be worth $50 after exactly 20 years. That may provide still holds. If your bond is past the 20-year mark, it continues to earn interest at a variable rate that resets every six months, so its value keeps climbing.

The variable rate for older Series EE bonds is 90 percent of the average five-year Treasury note yield. When Treasury yields are high, your bond earns more. When they are low, your bond earns less. You can see the current rate on TreasuryDirect under "Current Rates and Terms."

If you own a pre-2003 Series EE bond and want to know its exact worth today, use the Savings Bond Calculator on TreasuryDirect. You will need the issue date (the month and year you bought it) and the denomination ($50).

How Series EE bonds purchased after May 2003 work

Series EE bonds bought from May 2003 onward do not have a 20-year doubling may provide. Instead, they earn a fixed rate (set when you buy and never changing) plus a variable rate (reset every six months). The fixed rate has varied over time — it was as high as 3.5 percent in 2003 and as low as 0.1 percent in recent years.

When you purchase a $50 Series EE bond today, you pay $25 and receive a fixed rate that applies for the life of the bond, plus a variable rate that adjusts on May 1 and November 1 each year. The variable portion is 90 percent of the average five-year Treasury note yield, just like older bonds.

To find the current fixed rate for new purchases, check TreasuryDirect's "Current Rates and Terms" page. The variable rate changes twice yearly, so your bond's growth accelerates or slows depending on Treasury yields.

How Series I bonds work

Series I bonds are designed to protect against inflation. They earn a combined rate made up of two parts: a fixed rate (locked in when you buy and never changing) and a variable inflation rate (adjusted every six months based on the Consumer Price Index).

If you buy a $50 Series I bond today for $25, you receive a fixed rate that lasts the entire time you hold the bond, plus an inflation rate that changes on May 1 and November 1. The combined rate determines how much interest you earn each month. When inflation rises, your bond earns more. When inflation falls, your bond earns less (but the fixed portion always stays the same).

Series I bonds have a one-year holding requirement — you cannot cash them in during the first year. If you cash them in before five years, you lose the last three months of interest as a penalty.

When you can cash in a savings bond and what you will receive

You can cash in a Series EE or Series I bond at most banks, credit unions, or through TreasuryDirect online. The amount you receive is the current value shown in the Savings Bond Calculator, not the purchase price.

Series EE bonds can be cashed in anytime after one year of ownership. If you cash in before five years, you lose the last three months of interest. After five years, there is no penalty.

Series I bonds have a one-year holding requirement and a five-year penalty period (lose three months of interest if cashed before five years). After five years, you can cash them with no penalty.

When you cash in a bond, you owe federal income tax on all the interest you earned, but not state or local income tax. You can defer the federal tax by rolling the proceeds into another Series EE or Series I bond, though this is rarely done.

Using the TreasuryDirect Savings Bond Calculator

The fastest way to find out what your $50 bond is worth is the Savings Bond Calculator at TreasuryDirect.gov. Go to the "Savings Bond Calculator" link under "Tools," then enter three pieces of information: the series (EE or I), the denomination ($50), and the issue date (month and year you bought it).

The calculator will show you the current value immediately. It updates based on the most recent interest rate changes, so the figure is accurate as of that day. If you have multiple bonds, you can run the calculator for each one separately.

If you have lost track of your bonds' issue dates, you can search for them on TreasuryDirect if you have an account, or contact the Bureau of the Fiscal Service at 844-284-2676.

Why a $50 bond costs $25 to buy

The U.S. Treasury sells Series EE and Series I bonds at a 50 percent discount to their face value. You pay $25 for a $50 bond, $12.50 for a $25 bond, and so on. This discount is built into the bond structure and is not a special offer — it is how these bonds have always worked.

The discount does not mean you are getting a deal or that the bond is underpriced. It simply means the bond's interest earnings are front-loaded into the purchase price. Over time, as interest accrues, the bond's value rises toward and past its face value.

Frequently Asked Questions

Is my $50 savings bond worth $50 or $25 right now?

It depends on when you bought it. If you purchased it today, you paid $25 and it is currently worth $25. If you bought it years ago, it is worth more than $25 — possibly $50 or more. Use the TreasuryDirect Savings Bond Calculator with your purchase date to find the exact current value.

What if I bought a $50 Series EE bond in 2000?

If you bought it before May 2003, it was may provide to reach $50 after 20 years. If it is now past 2020, it is worth at least $50 and continues earning interest. If it is between 2000 and 2020, it is worth somewhere between $25 and $50. The calculator will show the exact amount.

Can I cash in my savings bond anytime I want?

Series EE and Series I bonds can be cashed after one year. If you cash before five years, you lose three months of interest. After five years, there is no penalty. Most banks and credit unions will cash them, or you can do it online through TreasuryDirect.

Do I pay taxes on the interest from a savings bond?

Yes, you owe federal income tax on all interest earned when you cash in the bond. You do not owe state or local tax. If the bond was used for education, you may be able to exclude some or all of the interest from federal tax, but you must meet specific requirements.

What is the difference between a Series EE and Series I bond?

Series EE bonds earn a fixed rate plus a variable rate based on Treasury yields. Series I bonds earn a fixed rate plus a variable rate based on inflation. Series I bonds are better if you expect inflation to rise; Series EE bonds are simpler if you just want steady growth.