Treasury ends sales of paper savings bonds

Tuesday - 1/3/2012, 10:51am EST

It's the end of an era at the U.S. Treasury Department. As of January 1, paper savings bonds are no more. The agency is taking another step away from paper and into electronic transactions as new savings bonds transition exclusively to an electronic system. Treasury estimates the move away from paper will save it around $120 million per year. From now on, the way to get electronic savings bonds is through the agency's e-commerce website at TreasuryDirect.gov, where users with paper savings bonds can also convert them to the electronic variety.