Victory Bonds and the War Effort

The US government's Victory Bond program was a major contributor to the war effort during World War I and II.

In 1917, the US entered World War I, and the government needed a way to finance its war efforts. The Liberty Bond program was introduced in 1917 to raise funds for the war.

The US government issued the first Liberty Bond in April 1917, with a face value of $5 billion. This was the largest bond issue in US history at the time.

The goal of the Liberty Bond program was to raise funds for the war effort, with the money being used to purchase war materials, pay soldiers, and support the war effort.

The program was a huge success, with over $21 billion in bonds being sold by the end of the war. This was more than four times the initial goal of $5 billion.

The success of the Liberty Bond program led to the creation of the Victory Bond program during World War II.

You could purchase War Bonds in denominations of $25 through $1000, making them accessible to everyone. Employers even set up automatic payroll deduction systems, so employees could set aside a certain amount for War Bonds with each paycheck.

For just 10 cents, people could buy War stamps, which were placed in special albums. When full, the albums were redeemed for a bond, making it a fun way for kids to participate. To redeem paper War Bonds, you can use the Treasury's savings bond calculator tool or take them to a bank that offers savings bond redemptions.

If you're in possession of War Bonds, you can still redeem them, even if they're old. You'll need to enter the bond series, denomination, and issue date to look up their value.

Defense Bonds were first introduced on May 1, 1941, and were later renamed War Bonds after the US entered the war in December 1941.

You could purchase War Bonds in various denominations, ranging from $25 to $1000, making them accessible to everyone.

People could also buy War stamps for just 10 cents, which were then placed in special albums.

When the albums were full, they could be redeemed for a bond.

Employers played a key role in promoting War Bond purchases by setting up automatic payroll deduction systems, allowing employees to set aside a certain amount for War Bonds with each paycheck.

You can still redeem war bonds, even if they're old. Series E bonds were discontinued in 1980, but you can still redeem them if you're in possession of one.

To find out the value of your war bond, you can use the Treasury's savings bond calculator tool. This tool requires you to enter the bond series, denomination, and issue date.

The bond series is always "E" for war bonds. You can find the denomination on the bond itself. The issue date is also on the bond, in the top right corner.

You can redeem paper war bonds at a bank that offers savings bond redemptions or by mail.

Bond rallies were extremely popular, featuring Hollywood stars and popular musicians, and even offered free admission with the purchase of a War Bond at movie theaters and baseball stadiums.

Celebrities conducted auctions, such as a kiss from Hedy Lamarr, Betty Grable's stockings, Jack Benny's violin, and the horseshoes of Triple Crown winner Man O' War, to raise money for the war effort.

Free admission was offered with the purchase of a War Bond at the UCLA-USC football game on December 12, 1942, where a student-led war bond drive raised $2 million.

A robust advertising campaign, rallies, and other promotions, and a series of War Loan Drives brought in even more needed money, with many newspapers, magazines, and radio stations donating advertising space and time.

Even comic books got in the act, with superheroes promoting bond sales, and popular songs, such as Bing Crosby's recording of "The Road to Victory" for the Sixth War Loan Drive, encouraged sales.

Here are the dates for the eight War Loan Drives conducted in the US:

In the United States, a robust advertising campaign and series of War Loan Drives brought in millions of dollars for the war effort.

The First War Loan Drive, which took place from November 30 to December 23, 1942, raised $18.5 billion nationwide.

Local newspapers, magazines, and radio stations donated advertising space to promote War Bond sales.

Even comic books got in the act, with superheroes promoting bond sales.

Popular songs, such as Bing Crosby's recording of "The Road to Victory", encouraged sales.

Bond rallies featured Hollywood stars and popular musicians, with celebrities conducting auctions and offering items for sale.

Movie theaters and baseball stadiums offered free admission with the purchase of a War Bond.

At the UCLA-USC football game on December 12, 1942, a student-led war bond drive raised $2 million.

The widespread success of the War Loan Drives was partially due to the donation of advertising space by local and nationwide newspapers.

Here's a breakdown of the War Loan Drives in the US:

By the end of the war, 85 million Americans had purchased $185.7 billion dollars of bonds.

Armed Forces Leave is a type of compensation for accumulated leave to members and former members of the Armed Forces of World War II.

The Armed Forces Leave Bond (AFLB) was issued as a way to provide financial compensation to those who served. If you're the owner of an AFLB, you can cash it by completing the back of the bond, IRS Form W-9, and a letter giving instructions for payment.

To cash an AFLB, you'll need to send the completed forms to the Treasury Retail Securities Services at PO Box 9150, Minneapolis, MN 55480-9150. If you prefer to use a courier, you can send the materials to the Federal Reserve Bank of Minneapolis at 90 Hennepin Ave., Minneapolis, MN 55401.

Payment for AFLBs is made by check.

The U.S. government also offered special series and programs to encourage people to buy victory bonds. These included the "Third War Loan Drive" which aimed to raise $13.5 billion.

During this drive, the U.S. government offered a "Victory Bond Coupon Book" to those who purchased bonds, featuring illustrations by famous artists.

The Series G bonds were issued from 1941 to 1952, making them a significant part of history. They had a face value and were available in denominations of $100, $500, $1,000, and $10,000.

If you're looking to cash in your Series G bond, you'll need to send it, along with an FS Form 1522 and any supporting documents, to the Treasury Retail Securities Services at P.O. Box 9150 in Minneapolis, MN 55480-9150.

The bonds were originally designed to earn interest over a 12-year period, with payments made every six months until maturity. However, since they're no longer earning interest, you can expect to receive the face value upon redemption.

You can expect to receive the redemption value directly deposited into your account, as the Treasury no longer returns legal evidence.

Series H was a notable issue that spanned from June 1952 to December 1979. The bonds were available in denominations of $500, $1,000, $5,000, and $10,000.

Interest was paid by the Treasury every six months until maturity. This allowed investors to earn regular income from their Series H bonds.

The maturity period varied depending on the issue date, ranging from 29 years and 8 months for bonds issued between June 1952 and January 1957, to 30 years for bonds issued between February 1957 and December 1979.

Investors can redeem their Series H bonds by sending the bonds, a completed FS Form 1522, and any supporting documents to the Treasury Retail Securities Services. The address is P.O. Box 9150, Minneapolis, MN 55480-9150.

Redemption is done by direct deposit, and investors can expect to receive the face value of their bonds.

Series J was a special issue of bonds that ran from May 1952 to April 1957, with a 12-year maturity period.

These bonds were sold at 72% face value, which is a significant discount from their face value.

Interest accrued on Series J bonds and was paid when they were cashed, making them a good option for investors looking for a steady return.

The bonds came in various denominations, including $25, $100, $500, $1,000, $5,000, $10,000, and $100,000.

To cash a Series J bond, you'll need to send it, along with a completed FS Form 1522 and any supporting documents, to Treasury Retail Securities Services at the address listed.

The redemption value of a Series J bond is its face value, which is what you'll receive when you cash it.

Here's a breakdown of the Series J bond denominations:

Series K bonds were issued from May 1952 to April 1957. They had a face value price and a maturity period of 12 years.

These bonds were no longer earning interest after their maturity period. They were paid by Treasury check every six months prior to maturity.

Series K bonds came in denominations of $500, $1000, $5000, $10,000, and $100,000.

To cash or redeem Series K bonds, you'll need to send them to Treasury Retail Securities Services at P.O. Box 9150, Minneapolis, MN 55480-9150. They'll pay by direct deposit, but won't return any supporting documents.

The redemption value of Series K bonds is the same as their face value.

The Alphabet Series is a unique offering that spans several years, with distinct characteristics for each series. Series A, B, C, and D were issued over a period of time, with Series A running from March 1935 to December 1935.

Each series has its own issue dates, ranging from a single year to a period of three years. For example, Series B was issued in 1936, while Series C spanned from 1937 to 1938. Series D, on the other hand, was issued from January 1939 to April 1941.

The issue price for all series is 75% face value, which is a significant discount. This is a great opportunity for investors to purchase these bonds at a lower price.

The maturity period for these bonds is 10 years, which is a standard duration for many investments. However, it's worth noting that these bonds are no longer earning interest, so investors won't receive any ongoing returns.

If you're considering cashing in your bonds, you'll need to follow the specific redemption process for each series. For example, Series A, B, C, and D bonds can be redeemed by sending the bonds, FS Form 1522, and supporting documents to the Treasury Retail Securities Services in Minneapolis, MN.

Here's a quick summary of the issue dates for each series:

When you redeem your bonds, you'll receive the face value, which is a straightforward process.