Before the US Savings Bond made its debut in 1935, the US government used Postal Saving Bonds. They were issued in denominations of $20, $100 and $500. Their maturity was 20 years from the issue date and came with an interest rate of 2-1/2 percent.
Since the Postal Savings Bond program was phased out, over 300,000 U.S. Postal Savings Certificates and U.S. Postal Savings Bonds have gone uncashed.
These unclaimed assets have no time limit for claims to be filed either the bondholder or their heirs and are being held by the Bureau of Public Debt. Because this is a federal agency, they cannot be tracked in state databases. However, Fortune Finders does have access to the Federal database housing these records.
