Savings bond scams fall into 3 families: fake bonds, fake finders and people who pose as Treasury, and each one fails against a federal rule or Treasury warning that you can check.
Treasury counted at least $50 million in known fraud around US savings bonds as of September 2024 (Treasury's 2024 SECURE 2.0 Report to Congress, dated March 11, 2025).
ClaimMyBonds is a private company, not Treasury, TreasuryDirect or a state. This page names the rule behind each scam and says where to report one.
It states the free route first, because claiming from Treasury or a state costs nothing. To see how paper and electronic bonds work, start with our guide to US savings bonds.
9 Savings Bond Scams and the Federal Rule Each One Breaks
9 scams recur around US savings bonds, and every one fails against a published federal rule or Treasury warning. Buyers, sellers, finders and fake Treasury senders all rely on the same gap: most owners do not know who the law lets Treasury pay.
The table below lists the 9 scams, what the scammer claims and the rule or warning that defeats each claim.
| Scam | What the scammer claims or does | Why it fails (rule or Treasury warning) | Guide |
|---|---|---|---|
| 1. Buying a bond from a stranger or auction | Sells you a paper bond | Bonds are not transferable and are payable only to the named owners (31 CFR 315.15, 353.15, 360.15). TreasuryDirect: "You cannot cash them." | none |
| 2. Counterfeit paper bonds | Forged bonds cashed at banks, often through people recruited to cash them | At least $50 million of known fraud as of September 2024 (Treasury, SECURE 2.0 report); banks may limit redemptions to established customers | what banks cash savings bonds |
| 3. Bonds that never existed | A wrong series, date or face value | Outside Treasury's issue windows and denominations (see the 8 checks below) | types of US savings bonds |
| 4. Birth certificate bonds | A birth certificate unlocks bonds "held" for you | Birth certificates cannot be used to request savings bonds (TreasuryDirect); convictions have occurred | none |
| 5. Historical bonds and "Federal Notes" | Old railroad bonds or $100 million notes sold as Treasury debt | Worthless as securities; Treasury did not issue securities in $100 million or $500 million denominations | none |
| 6. Fake bond finders | Charges to search, claims Treasury's list, asks to be paid from the bond | Searching with Treasury and state programs is free; states may not release Treasury records to third parties (31 CFR 323.11(c)); Treasury pays only the owner | savings bond recovery services |
| 7. Treasury Hunt look-alikes | A site still offering a "Treasury Hunt" search | Treasury's tool has not been available since September 30, 2025 | Treasury Hunt is closed |
| 8. Look-alike letters, emails and fake login pages | Styled as Treasury, TreasuryDirect or a state | 16 CFR Part 461; 31 U.S.C. 333; TreasuryDirect login only through ID.me since October 28, 2026 | electronic savings bonds and TreasuryDirect accounts |
| 9. Chain letters and pyramid schemes using bonds | Bonds bought to pass along a chain | Issuance in furtherance of a chain letter or pyramid scheme is prohibited (31 CFR 353.8, 360.7) | none |
Rules and warnings as checked on November 11, 2026.
One root fact explains most of the 9 scams. A savings bond is registered, and registration is conclusive of ownership (31 CFR 353.5(a)). Treasury pays only the registered owner or another person entitled (31 CFR 315.39(b), 353.39(b), 360.39(b)), so nobody else can turn your bond into cash for you.
Fake Savings Bonds: Counterfeit, Bought and Impossible Bonds
Fake-bond scams take 5 forms: counterfeit paper bonds, bonds sold by strangers, bonds that never existed, birth certificate "bonds" and historical bonds passed off as Treasury debt. Each form is covered below, starting with the one that has a Treasury dollar figure.
Counterfeit Savings Bonds and Bank Cashing Schemes
Counterfeit paper savings bonds are forged bonds that criminals create using publicly available information and present for cash at banks (Treasury, 2024 SECURE 2.0 Report to Congress, dated March 11, 2025). The same report puts known fraud at no less than $50 million as of September 2024.
Treasury responded by allowing paying agent banks to limit redemptions to established customers. The appendix to 31 CFR Part 321 tells agents to avoid relying on newly opened accounts, or paying more than $1,000 on documentary evidence alone.
The 12-month established-customer point is a Secret Service recommendation in FS Publication 0022 (Rev. October 2022), not a Treasury rule. Treasury's guidance (FS Publication 0022, Rev. October 2022) lets banks decide whether to cash bonds for non-customers, although 31 CFR 321.10(a) has not been amended.
Only supervised deposit-taking institutions can be paying agents (31 CFR 321.2(a)). A check casher, a shop or a person with a "buyer" website is not one.
Buying or Selling a Savings Bond: Why a Bought Bond Pays Nothing
A savings bond bought from someone else pays the buyer nothing, because savings bonds are not transferable and are payable only to the owners named on them (31 CFR 315.15, 353.15, 360.15).
TreasuryDirect says: "Do not buy savings bonds from someone else or in an online auction site. You cannot cash them." The owner cashes a bond at a bank or by mail with FS Form 1522, and the guide on how to cash savings bonds covers both routes, never a buyer.
No market exists to sell a bond to. Bonds cannot be pledged as security (31 CFR 353.16, 360.16), paper bonds are never cashed online, and a paying agent may not charge for redeeming a bond (31 CFR 321.23(c)) or advance money on or discount one (31 CFR 321.10(b)).
How to Spot a Fake Savings Bond by Its Series, Date and Face Value
A paper savings bond whose series, issue date or face value never existed is fake, and 8 checks against Treasury's issue records catch the most common errors. Series, issue date and face value are printed on every genuine bond.
The guide on how to read a paper savings bond shows where each detail sits. Compare what you see with the table below.
| Bond detail claimed | Why it cannot be genuine | Source |
|---|---|---|
| Series EE dated before January 1980 | Series EE began January 1980; older bonds are Series E | 31 CFR 351.19 |
| Paper Series EE dated 2012 or later | Paper EE issue dates end December 2011; paper sales ended January 1, 2012 | 31 CFR 351.40; 76 FR 66855 |
| $25 paper Series EE | Paper EE face values are $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000; a $25 paper bond is Series E | 31 CFR 351.40 |
| Series E dated after June 1980 | Series E issue dates run May 1941 to June 1980 | 31 CFR 316.1 |
| $5,000 Series E | Not listed as a Series E denomination in 31 CFR 316.2(b) or TreasuryDirect's calculator; if you hold one, have Treasury Retail Securities Services check it | 31 CFR 316.2(b) |
| $10 Series E dated outside June 1944 to March 1950 | The $10 Series E carries issue dates June 1944 to March 1950 only | TreasuryDirect Savings Bond Calculator |
| Paper Series I dated 2025 or later | All new I bonds are electronic from January 1, 2025 (paper I bonds bought with tax refunds through 2024 are genuine) | TreasuryDirect; IRS Form 8888 |
| "Federal Note" or "bond" of $100 million or $500 million | Treasury did not issue securities in those denominations | TreasuryDirect, Known Phony Securities |
8 details that rule out a genuine paper savings bond. Passing all 8 does not prove a bond is genuine. Sources: 31 CFR Parts 316 and 351; TreasuryDirect, checked November 11, 2026.
Passing every check proves nothing. TreasuryDirect's Savings Bond Calculator "only checks that the issue date and denomination entered are a valid combination." It does not verify whether a bond exists, whether a serial number is valid or who owns the bond. The paying bank or Treasury makes that check.
Birth Certificate Bonds and "Strawman" Accounts
Birth certificate bonds do not exist: TreasuryDirect states that birth certificates cannot be used to request savings bonds purportedly held by the government. TreasuryDirect calls the "Exemption Account" a false term and says these accounts do not exist in the Treasury system; the "strawman" story told with it is false.
Sellers of these schemes often point to the Savings Bond Calculator as proof that a bond exists. The calculator does not verify that any bond exists, and a real savings bond calculator needs no birth certificate. TreasuryDirect adds: "Federal criminal convictions have occurred in several cases."
Historical Bonds and "Federal Notes" Sold as Treasury Bonds
Historical bonds are once-valid bonds of American entities, mostly old railroad bonds, that are worthless as securities, and they are not savings bonds. They are sold as collectibles with inflated claims.
TreasuryDirect reports buyers paying as much as $150,000 for historical bonds that regularly trade for $25. Bogus "Federal Notes" (one name used is "Morganthaus") claim $100 million or $500 million denominations, which Treasury did not issue (TreasuryDirect, Known Phony Securities). Marketable-security scams are outside this page.
Fake Bond Finders: Search Fees, "Treasury's List" and Payment From Your Bond
A fake bond finder makes at least one of 4 claims that Treasury's rules contradict: that it has Treasury's list, that a search costs money, that it can be paid from your bond, or that it has TreasuryDirect access. Each claim has a rule behind it.
States receive bond records only under an information-sharing agreement, may use them only to locate owners, and may not release them to the public or any third party without Treasury's advance written approval (31 CFR 323.11(b) and (c); 89 FR 102735, December 18, 2024).
No state is publicly known to have signed an agreement as of November 11, 2026. The guide on SECURE 2.0 and savings bonds explains what states may share.
The 4 claims, with the rule that answers each, are listed below.
- "We have Treasury's list": no release to third parties without Treasury's advance written approval (31 CFR 323.11(c)).
- "Searching costs a fee": Treasury states "we charge no fees, nor do we offer gifts for working with our office," and searching with an official state program is free (NAUPA).
- "We are paid out of your bond": payment goes only to the registered owner or person entitled (31 CFR 315.39(b), 353.39(b), 360.39(b)).
- "We can log into TreasuryDirect for you": Treasury approves no third-party websites or apps for account access.
Legitimate paid help exists. NAUPA (the national association of state unclaimed property administrators) says third-party finder services "are in most cases legal," and many states require finders to register.
No Treasury rule sets or caps a private helper's fee, and Treasury approves no paid service. Fee caps and registration rules for finders are a separate topic from the warning signs on this page.
Treasury Hunt has not been available since September 30, 2025, and lost-bond searches take 11 months or longer at Treasury (as of November 11, 2026). The free route is slow but free, and you can find lost or missing savings bonds without paying anyone.
Treasury Impersonators: Look-Alike Letters, Websites and Emails
Treasury impersonators use 3 channels: letters, websites and emails styled to look like Treasury, TreasuryDirect or a state. Two federal rules apply to them.
The FTC Impersonation Rule (16 CFR Part 461)
The FTC Impersonation Rule (16 CFR Part 461) makes it unlawful to materially and falsely pose as, directly or by implication, a government entity or officer, and "government" covers federal, state, local and tribal governments. The rule text on eCFR is free to read.
The rule was published at 89 FR 15017 (March 1, 2024) and has applied since April 1, 2024. It is enforced under FTC Act section 5 (15 U.S.C. 45). The maximum civil penalty is $53,088 per violation for penalties assessed after January 17, 2025 (16 CFR 1.98(d)).
The FTC's October 1, 2026 notice (91 FR 62347, comments until November 30, 2026) is a proposal only. No new rule text has been adopted.
Misuse of Treasury Names, Including "United States Savings Bond" (31 U.S.C. 333)
Federal law bars using the words "United States Savings Bond", Treasury's name or its symbols in a way that could convey a false impression of Treasury approval or association, and a disclaimer does not cure it (31 U.S.C. 333).
The civil penalty is up to $9,956 per use, and $49,772 per use in a broadcast or telecast (31 CFR 27.3(c), 2025 adjustment, 90 FR 25484). A knowing violation can bring a fine up to $10,000 per use ($50,000 if broadcast) or up to 1 year in prison, or both (31 U.S.C. 333(d)).
Savings Bond Scam Emails and Fake TreasuryDirect Login Pages
TreasuryDirect sign-in has worked only through ID.me since October 28, 2026, so a TreasuryDirect sign-in page that asks for the old password and access code is not how TreasuryDirect signs in today. Close that page and type the address yourself.
TreasuryDirect states that official Treasury communications come from treasurydirect@lists.fiscal.treasury.gov. There are no Treasury-approved apps or third-party websites for TreasuryDirect account access. ClaimMyBonds cannot access any account.
Savings Bond Scam Letters Versus Real Treasury Mail
A savings bond letter that asks for a fee, a gift or payment from your bond does not come from Treasury, which states that it charges no fees and offers no gifts. Real Treasury mail never needs money from you.
Real outreach does exist, so a letter is checked, not ignored. Treasury's data match with the Department of Veterans Affairs produced more than 845,000 letters and more than 764,000 bonds redeemed (2022 to 2024, Treasury's 2024 SECURE 2.0 Report).
Check a letter against Treasury Retail Securities Services' published contact: P.O. Box 9150, Minneapolis, MN 55480-9150, or 844-284-2676. Never use the number printed in the letter.
How to Report a Savings Bond Scam
Report a savings bond scam to the agency whose name was misused, and protect any bond involved with Treasury's own claim form. The 4 steps are listed below.
- Mail a look-alike letter, envelope or printout to the Bureau of the Fiscal Service, 200 Third Street, Room 305, Parkersburg, WV 26106 (TreasuryDirect, Prohibition Against Misuse page).
- Stop contact with the sender, and send no bonds, copies or numbers to them.
- Claim a bond that was lost or stolen, including one taken by a scammer, with FS Form 1048 (revised March 2026), mailed to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150.
- Call Treasury Retail Securities Services at 844-284-2676 to check a contact that claimed to be Treasury.
Other reporting channels are not covered here, because we have not verified them against a Treasury source.
Claiming Savings Bonds Without a Scam: The Free Route and Private Help
Claiming a savings bond from Treasury or from a state program costs nothing, and the forms are free; paid help is optional and adds only paperwork, tracing and follow-up.
ClaimMyBonds is a private company, not the government, and we are an independent, private savings bond guide with our own paid claim help, priced on request. We never ask for Social Security numbers, bond serial numbers or bond scans on the web, never take payment out of a bond and never claim Treasury access.
Savings Bond Scam Questions
Is a savings bond safe from scams once it is registered in my name?
A registered savings bond is paid only to its registered owner or another person entitled, and registration is conclusive of ownership. A lost or stolen paper bond is claimed with FS Form 1048.
Has my savings bond been cashed by someone else?
Treasury presumes a bond was properly paid if no claim is filed within 10 years of its recorded redemption (31 CFR 353.29(b)). Send Treasury Retail Securities Services a signed status letter that lists the serial numbers, and never enclose the bonds. A claim filed 6 or more years after final maturity needs the serial number (31 CFR 315.29(c), 353.29(c)).
Is Treasury Retail Securities Services legitimate?
Yes: Treasury Retail Securities Services is the office named on FS Form 1522 and on TreasuryDirect's contact page, at P.O. Box 9150, Minneapolis, MN 55480-9150. It states it charges no fees and offers no gifts, and the form is how you cash paper bonds by mail.
Do savings bonds expire if I do not claim them by a deadline?
No: savings bonds never expire and have no deadline to redeem (Executive Order 13968, 85 FR 83745). A "claim before the deadline" message is a pressure tactic. Matured bonds stop earning interest, as explained in the guide on when savings bonds stop earning interest.
Can I sell my savings bonds to a buyer?
No: a savings bond cannot be sold or transferred; only the named owner, co-owner or a person entitled is paid (31 CFR 353.15). TreasuryDirect warns that a bought bond cannot be cashed.
Is there a savings bond verification website?
No public website verifies whether a paper savings bond exists or who owns it; TreasuryDirect's calculator checks only the issue date and denomination combination. Verification comes from the paying bank or a status letter to Treasury, which uses the savings bond serial number.
Will anyone ask for my Social Security number to check a bond?
No: our calculator asks for no Social Security number or serial number, and TreasuryDirect's calculator needs no serial number. Our intake never asks for Social Security numbers, serial numbers or scans.
Related Guides for Owners and Heirs
6 guides cover the free routes this page refers to. Each one is listed below.
- Found old savings bonds: what to do with paper bonds you have just come across.
- Savings bonds of a deceased parent or relative: how to trace bonds after a death.
- Unclaimed savings bonds: why no name search exists and how owners claim.
- Savings bonds and state unclaimed property offices: what states can and cannot do.
- Banks that cash savings bonds without an account: where to cash a bond if you bank elsewhere.
- Savings bonds after death: how heirs cash or reissue inherited bonds.
Our editors work from primary sources; see how we check every rule and date.