Hank asked: Several years ago, my grandmother had lost all of her savings bonds. She had about $8,000 worth of them.
She couldn’t find them anywhere. She contacted the department of treasury. She gave them her social security number, but was unable to provide any details, such as serial numbers, or anything else. They told her that they’ll do what they can to replace them. She was sent entirely new savings bonds equaling the amount she originally had. She cashed them, and received her money.
Well, my grandmother recently passed away, and after going through her to clean out her belongings, I found some savings bonds in an old dresser. I noticed that my name was also on them as a co owner. Now, I don’t know if these were the originals that she once lost, or if they’re entirely different savings bonds.
Out of curiosity, I took them to the bank to see if any had not been cashed (from the replacements), and it turned out that they were able to cash every single savings bond. They put it through their system, and they all came back good. They cashed every single one of them.
I don’t ever remember my grandmother owning any other bonds, but she may have.
These bonds did have my name on them as a co owner.
I’m wondering if the Department of Treasury issued her completely new bonds, and if so, was there some sort of mistake? Or did I come across entirely new bonds all together? I explained it there, and they said if they have been replaced, then the Department of Treasury would automatically cancel the originals, and it seemed to take it.
Anyone have any insight on this? I just don’t want it to come around and bite me in the **** and then me having to owe all of this money back to either Department of Treasury or the Bank. Then again, I have no idea if they’re even the originals, or if they’re completely separate bonds. I signed for these ones when I cashed them, and my grandmother signed for the ones she cashed, so that at least makes me feel better about it. It’s not like I’m signing for both the replacement bonds, and these ones.
If they were indeed the lost bonds, can the bank file a lawsuit on me, even though I don’t know if they are the original bonds or not? I simply cashed them because my name is on them, and they may have been completely different bonds from the ones she lost.
Thanks for the info, Ruby. So if the bonds turned out to be canceled, will I have to pay it all back to the Treasury? Or how does that work?
Alex Barksdale
