Check the current value on TreasuryDirect or a savings bond calculator

Your savings bond's worth depends on when you bought it, what type it is, and how long you've held it. The U.S. Department of the Treasury maintains TreasuryDirect, a free website where you can look up the exact current value of any bond you own. If you have an online account there, you can see all your bonds listed with their values updated monthly.

If you don't have a TreasuryDirect account or your older bonds aren't registered there, the Treasury also publishes a savings bond value calculator on its website. You enter the bond series, denomination, and issue date, and it tells you what that bond is worth right now. The calculator works for Series EE, Series I, and Series HH bonds issued since 1974.

Paper bonds you hold physically can be looked up the same way — you don't need to own them digitally. The value updates on the first business day of each month, so if you check on the 15th, you're seeing the value from the 1st.

Key Takeaways

  • TreasuryDirect.gov lets you check the current value of any bond you own, whether it's held electronically or as a paper certificate.
  • The value of a savings bond depends on its series (EE or I), the amount you paid, how many months you've held it, and current interest rates.
  • Series I bonds earn interest tied to inflation and are worth more if inflation has been high; Series EE bonds earn a fixed rate set when you bought them.
  • Paper bonds and electronic bonds have the same value — the form you hold them in doesn't change what they're worth.
  • You can cash in a bond once it's been held for at least one year, though you'll lose the last three months of interest if you cash it before five years.

How Series EE bonds build value over time

A Series EE bond is sold at half its face value. If you bought a $100 bond, you paid $50. The bond earns a fixed interest rate that was set the month you purchased it. That rate stays the same for the life of the bond, and the interest compounds semiannually — meaning every six months, the interest you've earned gets added to the bond, and then you earn interest on that interest too.

Series EE bonds are may provide to double in value in 20 years, no matter what interest rates do. If you hold one longer than 20 years, it keeps earning at the same fixed rate. The longer you hold it, the more it's worth. A $50 bond you bought 10 years ago is worth more than $50 now, and it will be worth even more in another 10 years.

How Series I bonds build value differently

Series I bonds are designed to protect you from inflation. You buy them at face value — a $100 I bond costs $100 — and the interest rate changes every six months based on inflation. The rate has two parts: a fixed rate that never changes, plus a variable rate that moves with inflation. When inflation is high, your I bond earns more. When inflation is low, it earns less, but never less than the fixed portion.

Because the interest rate on I bonds adjusts, their value can change more noticeably than EE bonds when economic conditions shift. An I bond you bought when inflation was high is worth more than one you bought when inflation was low, even if you bought them at the same time. The Treasury announces the new rate every May and November, and it applies to bonds held going forward.

What happens to paper bonds versus electronic bonds

The form your bond takes — paper certificate or electronic record in TreasuryDirect — does not affect its value. A paper $100 Series EE bond is worth exactly the same as an electronic $100 Series EE bond bought the same month. The only difference is how you hold it and how you cash it in.

Paper bonds can be lost, damaged, or stolen, which is why many people prefer electronic bonds. If you have old paper bonds in a drawer, you can still find out what they're worth using the Treasury calculator, and you can still cash them in at a bank or the Treasury. Electronic bonds are easier to track and manage, but they're not more valuable.

Why your bond might be worth less than you expected

If you cash in a Series EE or I bond before you've held it for five years, you lose the last three months of interest. This is called the early redemption penalty. So if you bought a bond 18 months ago and cash it in now, you get the value as of 15 months ago, not today. This penalty exists to discourage people from treating savings bonds like savings accounts.

You cannot cash in a bond at all until you've held it for at least one year. After that, the penalty applies if you cash it before five years. Once a bond has been held for five years or longer, you can cash it in without any penalty and receive its full current value.

How to use the value to decide whether to cash in a bond

Knowing what your bond is worth helps you decide whether now is a good time to cash it in. If you need the money and the bond has been held for five years or more, you get the full value with no penalty. If it's been held for less than five years, you need to weigh whether you need the money badly enough to accept the three-month interest loss.

For Series I bonds specifically, you might also consider the current interest rate versus what you could earn elsewhere. If the I bond rate is about to drop and you can get a higher rate on a high-yield savings account or CD, cashing in and moving the money might make sense. The Treasury announces rate changes in May and November, so timing matters if you're watching for a rate drop.

Frequently Asked Questions

Can I look up a bond's value if I don't have the original paperwork?

Yes. If you remember the approximate issue date and series type, the Treasury calculator can find it. If the bond is registered in your TreasuryDirect account, you don't need any paperwork at all — just log in. For very old paper bonds, a bank that redeems savings bonds can sometimes look up the value if you bring the physical certificate.

Does the value of my bond change every day?

No. Savings bond values update once a month, on the first business day. You won't see the value change day to day like a stock would. The interest compounds semiannually, but the monthly update is when the Treasury publishes the new official value.

What if my Series I bond rate just dropped — should I cash it in?

Not necessarily. I bonds still earn interest at the new rate, and you have no penalty if you've held it five years or longer. Compare the new rate to what you could earn in other savings products. If you don't need the money, leaving it in the bond is usually fine, but if rates elsewhere are significantly higher, cashing in and moving the money might be worth considering.

Is a bond worth more if I hold it longer?

Yes, for as long as the bond is earning interest. Series EE bonds keep earning at their fixed rate indefinitely. Series I bonds keep earning at their adjusted rate. The longer you hold either type, the more interest accumulates and the higher the value climbs. However, bonds stop earning interest after 30 years, so there's no benefit to holding them beyond that point.