Series A, B, C and D savings bonds, the first US savings bonds, were sold from March 1, 1935 to April 1941 at 75% of face value and stopped earning interest by April 1951.
Each pays exactly its face value, the amount printed on the bond. On September 30, 2026, 7,855 of them were still uncashed.
A bond never expires, so you can cash one today by mail with FS Form 1522, as the steps below show. ClaimMyBonds is a private, independent guide, not Treasury or TreasuryDirect. Treasury charges no fee to pay these bonds, and every form is free.
What Are Series A, B, C and D Savings Bonds?
Series A, B, C and D savings bonds are the four paper series Treasury sold from March 1935 to April 1941, discount bonds bought at 75% of face that paid face value at a 10-year maturity. A discount bond sells below face and grows to face by maturity.
Treasury's history of savings bonds calls Series A to D "baby bonds". The law was signed on February 4, 1935 (49 Stat. 21), and the first bond sold on March 1, 1935. 31 CFR part 315 governs them today.
They are the first four of the 14 types of US savings bonds, and Table 1 lists their facts.
| Attribute | Detail | Source |
|---|---|---|
| Also called | Baby bonds | TreasuryDirect, beginnings of savings bonds |
| Issued | March 1935 to April 1941 (first bond March 1, 1935) | TreasuryDirect, historical and retired bonds; TD History 1991, p. 9 |
| Law | Act of February 4, 1935 (49 Stat. 21), today 31 U.S.C. 3105 | TD History 1991, p. 9 |
| Price | 75% of face | TreasuryDirect, historical and retired bonds |
| Face values | $25, $50, $100, $500, $1,000 | TreasuryDirect, historical and retired bonds |
| Term and rate | 10 years; 2.9% compounded semiannually to maturity | TD History 1991, p. 9 |
| Interest now | None; the last bonds stopped in April 1951 at the latest | TreasuryDirect, beginnings of savings bonds; old bonds from other series |
| Paid today | Face value | 31 CFR 315.35(b) |
| Pieces | 18,559,885 issued; 7,855 uncashed on September 30, 2026 | Fiscal Data piece counts |
| Federal income tax on interest | Exempt for issues through February 1941; taxable for Series D of March and April 1941 | TreasuryDirect, old bonds from other series |
| Cash at | FS Form 1522 by mail; 31 CFR 321.7(a) still lists these bonds for paying banks | TreasuryDirect; 31 CFR 321.7(a) |
Source: TreasuryDirect historical and retired bonds page and old-bonds page; 31 CFR part 315; TD History 1991, p. 9; Fiscal Data piece counts as of September 30, 2026; checked November 11, 2026.
Issue Dates and Maturity of Series A, B, C and D
Four series ran in sequence, one letter per window: Series A from March to December 1935, B in 1936, C from 1937 to 1938 and D from January 1939 to April 1941. Each series reached its 10-year maturity ten years after issue, from 1945 for Series A to April 1951 for Series D.
Series D splits for tax at March 1941, as the tax section below explains. A bond dated May 1941 or later is Series E, F or G, not D. Compare the issue date on your bond with Table 2 first.
| Series | Issued | Reached 10-year maturity (no interest since) | Federal income tax on interest |
|---|---|---|---|
| A | March to December 1935 | March to December 1945 | None |
| B | January to December 1936 | 1946 | None |
| C | January 1937 to December 1938 | 1947 to 1948 | None |
| D | January 1939 to February 1941 | January 1949 to February 1951 | None |
| D | March and April 1941 | March and April 1951 | Taxable |
Source: TreasuryDirect historical and retired bonds page and old-bonds page, as of November 11, 2026. Maturity is the issue month plus 10 years.
Baby Bond Terms: 75% of Face, Five Face Values and 2.9% Over 10 Years
Series A to D came in five face values, $25 to $1,000, each sold at 75% of face and growing to face in 10 years. The growth rate was 2.9% compounded semiannually, meaning interest was added twice a year (TD History 1991, p. 9). Table 3 shows price and payment.
| Face value | Price (75%) | Interest earned by maturity | Paid today |
|---|---|---|---|
| $25 | $18.75 | $6.25 | $25 |
| $50 | $37.50 | $12.50 | $50 |
| $100 | $75.00 | $25.00 | $100 |
| $500 | $375.00 | $125.00 | $500 |
| $1,000 | $750.00 | $250.00 | $1,000 |
Source: TreasuryDirect historical and retired bonds page; 31 CFR 315.35(b).
That rate ran only to maturity. A search for "Series A savings bond rates" has one answer today: zero, because every bond stopped earning by April 1951. No later rate applies to these bonds, so the table's last column never changes.
Do Series A, B, C and D Bonds Still Earn Interest?
No: every Series A, B, C and D bond stopped earning at its 10-year maturity, the last in April 1951. Treasury's history says: "The last 'baby bonds' matured and ceased earning interest in April 1951." TreasuryDirect also lists Series A, B, C and D among the series that no longer earn interest.
No deadline applies to cashing them (Executive Order 13968, December 18, 2020, 85 FR 83745). Waiting adds nothing, because interest ended at maturity and the face value never changes. Final maturity by series is listed under when savings bonds stop earning interest.
What Is a Series A, B, C or D Savings Bond Worth Today?
A Series A, B, C or D savings bond is worth exactly its face value today: a $25 bond pays $25 and a $1,000 bond pays $1,000. 31 CFR 315.35(b) says: "A bond of Series A, B, C, D, F, or J will be paid at face value."
The value is the same every month and for every issue date. An April 1941 Series D and a May 1941 Series E launched at the same 75% price and 10-year 2.9% terms. Series E was later extended to 40 years (31 CFR 316.8(b)), so it pays far more in November 2026.
| Bond | Price and original term | Final maturity | Paid in November 2026 |
|---|---|---|---|
| $100 Series D, issued April 1941 | $75.00; 10 years at 2.9% | April 1951 (no longer earns) | $100.00 |
| 1941 Series E savings bond value: $100, issued May 1941 | $75.00; 10 years at 2.9% (1941 terms) | May 1981 (40 years; no longer earns) | $362.36 |
| $1,000 Series D, issued April 1941 | $750.00; 10 years | April 1951 (no longer earns) | $1,000.00 |
| $1,000 Series E, issued May 1941 | $750.00; 10 years (1941 terms) | May 1981 (40 years; no longer earns) | $3,623.60 |
Source: Fiscal Data, Savings Bonds Value Files (redemption month November 2026), https://fiscaldata.treasury.gov/datasets/savings-bond-value-files/; 31 CFR 315.35(b), 316.8(b); TD History 1991, pp. 9, 12.
Why No Savings Bond Calculator Prices Series A to D
No calculator prices Series A to D because the regulation fixes the payment at face. TreasuryDirect's calculator covers paper EE, I, E and Savings Notes only, and Fiscal Data's Value Files hold no A to D rows. Our savings bond calculator, built on Treasury's published value files, prices EE and E bonds.
7,855 Series A to D Bonds Are Still Uncashed
Of 18,559,885 Series A to D bonds issued, 7,855 were uncashed on September 30, 2026, about 1 in 2,363 (Fiscal Data piece counts). Fiscal Data counts pieces, not dollars, so this page gives no dollar total for them and does not estimate one.
Sales from March 1935 through April 1941 were approximately $4 billion at issue price (TreasuryDirect). The 7,855 pieces are part of 103,064,737 matured unredeemed bonds of all series. The route for owners and heirs to claim them is covered under unclaimed savings bonds.
How to Cash Series A, B, C and D Bonds by Mail With FS Form 1522
Cash a Series A, B, C or D bond by mailing it with FS Form 1522 (Revised April 2026) to Treasury Retail Securities Services in Minneapolis, which pays face value by direct deposit, a payment straight into your bank account. Treasury charges no fee. The five steps are listed below.
- Get FS Form 1522 (Rev. April 2026) from TreasuryDirect; it is free.
- Fill in each bond's issue date and serial number, and your direct deposit details (routing number and account).
- Sign with a copy of your driver's license, passport, state ID or military ID if the bonds total $1,000 or less, or before a notary or a person authorized to certify signatures if they total more.
- Mail the form and the bonds to Treasury Retail Securities Services (address below); Treasury does not return documents you send.
- Wait for direct deposit of the face value; Treasury charges no fee.
Treasury Retail Securities Services
P.O. Box 9150
Minneapolis, MN 55480-9150
Phone: 844-284-2676 (toll free), Monday to Friday, 8am to 6pm ET
Source: FS Form 1522 (Revised April 2026); TreasuryDirect Contact Us, as of November 11, 2026
Because a Series A to D bond is worth its face value, the $1,000 signature test adds up face values. The test uses the total of all bonds on the form, never each bond alone. Table 5 shows four examples.
| Bonds | Total (face = value) | What FS Form 1522 needs |
|---|---|---|
| One $1,000 Series D | $1,000 | ID copy, no certification |
| Two $500 Series C | $1,000 | ID copy, no certification |
| One $1,000 Series B and one $25 Series A | $1,025 | Notary or certifying officer |
| Four $100 Series D | $400 | ID copy, no certification |
Who can certify a signature is covered under savings bond signature certification. Source: FS Form 1522 (Revised April 2026); 31 CFR 315.35(b).
Processing takes 3 months or longer if the bonds are in your name and 5 months or longer if they are not (TreasuryDirect, as of November 11, 2026). Treasury pays whole bonds only: you cannot cash part of a paper savings bond.
Can a Bank Cash a Series A, B, C or D Bond?
Count on the mail route: TreasuryDirect gives FS Form 1522 by mail for Series A to D, although 31 CFR 321.7(a) still lists them among bonds a paying bank may cash. A paying bank is a bank allowed to pay savings bonds. 31 CFR 315.39(a) lets an owner present them there.
Whether banks still pay these bonds in practice is not published, and this page names no bank. A bank may decline a non-customer (FS Publication 0022, Rev. October 2022) and may not charge a fee (31 CFR 321.23(c)). Dated policies are listed under what banks cash savings bonds.
Are Series A, B, C and D Bonds Taxable?
Mostly no: interest on Series A, B and C bonds of all years and on Series D issued through February 1941 is not subject to federal income tax (TreasuryDirect). Interest here is the gap between the 75% price and face value, $250 on a $1,000 bond.
A Series D dated March or April 1941 falls outside the exemption. Its interest, $25 per $100 of face, is federally taxable but exempt from state income tax (31 U.S.C. 3124), with the timing of that tax set by IRC 454.
For a bond that reached final maturity in an earlier year, that earlier year is the year the rule names (26 U.S.C. 454). This page does not establish how interest left unreported in 1951 is treated, so ask a tax professional. The federal rule is covered under are savings bonds taxable.
Series A to D Bonds After the Owner's Death
A Series A to D bond passes to the surviving co-owner or the P.O.D. beneficiary named on it. A co-owner is a second person registered on the bond, and a P.O.D. (payable on death) beneficiary is the person who receives it when the owner dies.
With no living person named, the bond belongs to the estate. Either way Treasury pays it and never reissues it (31 CFR 315.70 to 315.72; FS Forms 5394 and 4000). Ask the estate's attorney about individual decisions; Table 6 shows the four routes.
| Situation | Route | Owner page |
|---|---|---|
| Surviving co-owner or P.O.D. beneficiary | FS Form 1522 plus a certified death certificate | savings bonds after death |
| Estate of $100,000 or less at death, not administered | Voluntary representative signs FS Form 5336 (Rev. April 2026) | FS Form 5336 |
| Estate closed or settled by a state small-estate procedure | FS Form 5394 (Rev. May 2026), direct deposit only | FS Form 5394 |
| Estate over $100,000 | Court administration; representative signs FS Form 1522 with title | savings bonds in probate |
The $100,000 limit counts redemption value at the date of death (31 CFR 315.71(d)). FS Form 5336 cannot be used once a state small-estate procedure has been used. Source: 31 CFR 315.70 to 315.72; FS Forms 5336 and 5394; TreasuryDirect, as of November 11, 2026.
Lost or Destroyed Series A to D Bonds: Serial Numbers and Old Records
A lost, stolen or destroyed Series A to D bond is claimed with FS Form 1048 (Revised March 2026), and the claim needs the serial number. 31 CFR 315.29(c) bars claims filed six years or more after final maturity without it, and every Series A to D bond matured by April 1951. Details are under FS Form 1048.
Records for bonds issued from 1935 to September 1957, 3% of matured unredeemed debt, were not digitized, meaning not made searchable by computer, as of the March 11, 2025 report to Congress. Treasury Hunt, a discontinued Treasury tool, searched only bonds issued since 1957 and closed September 30, 2025, so it never covered these bonds.
Series A to D and the Savings Bonds That Came After Them
Series A to D were the first four of 14 series and note types, with Postal Savings Bonds before them and Series E, F and G after. For a bundle of mixed series, start with found old savings bonds.
- Postal Savings Bonds
- Series E
- Series F and G
Series E and War Bonds From May 1941
Series E replaced Series D on May 1, 1941 at the same 75% price. It was sold as the Defense Savings Bond in 1941 and the War Savings Bond from 1942 to 1945, and bonds issued from May 1941 earned for 40 years. Read more on Series E savings bonds. Wartime issues are covered under war bonds.
Series F, G, J and K
Series F and G were sold from 1941 to April 1952, and J and K from May 1952 to April 1957.
F and J pay face value like A to D, while G adds $1.25 per $100 and K $6.90 per $500. All are cashed by mail. Terms are under Series F, G, J and K savings bonds.
Postal Savings Bonds, Replaced in 1935
Postal Savings Bonds, in $20, $100 and $500 denominations, were discontinued on July 1, 1935 and replaced by US savings bonds. You cash one with the back of the bond completed, an IRS Form W-9 and a letter mailed to Minneapolis, and Treasury pays by check. See savings stamps and war savings stamps.
Series A to D Savings Bond FAQ
Can You Still Buy Series A Savings Bonds?
No. Series D sales ended in April 1941, and Treasury has sold no paper savings bonds over the counter since January 1, 2012 (76 FR 66855).
Is an Old Baby Bond Worth More to a Collector?
Not from Treasury: it pays face value, and only to the registered owner or the person entitled (31 CFR 315.39(b)). TreasuryDirect warns: "Do not buy savings bonds from someone else or in an online auction site. You cannot cash them." See savings bond scams.
Can a Series A to D Bond Be Converted to Electronic or Reissued?
No. SmartExchange converts only paper E, EE and I bonds of $25 or more (31 CFR 363.161), and FS Form 4000 reissues only EE, I and retirement bonds, so Series A to D bonds are paid at face value.
Are 1930s Baby Bonds the Same as Today's Baby Bond Programs?
No. "Baby bonds" was the popular name for Series A to D, and the words now also name unrelated child-savings programs, such as Treasurer initiatives in Rhode Island and Vermont.
What If a State Holds an Old Savings Bond?
Treasury may pay a state that physically holds a matured bond (31 CFR 315.88), and the owner or heir then claims from the state program. No 89 FR 102735 information-sharing agreement is publicly known as of November 11, 2026. See savings bonds and state unclaimed property offices.
Claiming from Treasury and from state programs costs nothing, and the forms are free. Found bonds you cannot cash, or a relative's bonds? ClaimMyBonds is a private company, not the government; we can help with the paperwork, tracing and follow-up.