How Much Is a $100 Savings Bond From 1994 Worth?

U.S. savings bonds are a secure, interest-earning investment issued by the U.S. Treasury. Their value increases over time through accrued interest, rather than fluctuating with market conditions. This article will guide you through understanding how these bonds gain value and how to ascertain the current worth of a specific bond, such as a $100 savings bond issued in 1994.

How Savings Bonds Gain Value

Savings bonds accumulate value as interest is added to their principal, a process known as compounding. Older bonds, like those issued in 1994, typically had either a fixed interest rate or a variable rate that adjusted periodically.

All savings bonds have a specific maturity period, after which they stop earning interest. For EE bonds issued in 1994, this maturity period is 30 years. Consequently, a $100 EE bond from 1994 ceased earning interest in 2024, meaning its value became fixed at that point.

Determining Your Bond’s Current Worth

Ascertaining the exact current value of your savings bond requires specific information found directly on the physical bond. You will need the bond’s serial number, its issue date, the series type (a 1994 bond is most likely an EE bond), and its denomination. This information is typically printed prominently on the face of the paper bond.

The U.S. Treasury provides an official and reliable online tool, the Bond Value Calculator, to determine the precise worth of your bond. You can access this tool by searching for “TreasuryDirect Bond Value Calculator” on any major search engine. Once on the calculator’s page, you will input the bond’s series, denomination, and issue date.

For multiple bonds of the same series and issue date, you can input the total quantity rather than individual serial numbers. The calculator will then display the bond’s current value, its interest rate history, and the next scheduled interest accrual date.

Redeeming Your Savings Bond

Savings bonds are eligible for redemption after a minimum holding period of one year from their issue date. While some bonds may incur an interest penalty if redeemed before five years, this is not a concern for a 1994 bond, as it has far exceeded this timeframe. The process of cashing in your bond is straightforward once its value is known.

Paper savings bonds can often be redeemed at many banks and credit unions. When redeeming, you typically need to present the physical bond, valid government-issued photo identification, and your Social Security number. Some financial institutions may prefer or require you to have an account with them to process the redemption.

Alternatively, if your paper bond has been converted to electronic form and held in a TreasuryDirect account, you can redeem it directly through their online system. The proceeds from a redeemed bond are usually deposited directly into your designated bank account. The interest earned on savings bonds is generally exempt from state and local income taxes, but it is subject to federal income tax. This federal tax liability is typically recognized in the year the bond is redeemed or when it reaches its final maturity, whichever occurs first. It is advisable to consult a tax professional for guidance on your specific tax situation.