Now, this is the kind of history I am looking for; thanks for sharing!You do realize that the $10,000 limit is nominal and not real and so has been shrinking in real terms over time. Ironic, since it's a real bond.
Also while the limit has always been nominal, the limit has not always been $10,000.
Double check me on this, but as best I can ascertain since the I-bond program began in the second half of 1998 the nominal limits have been the following.
1998-2007 $30,000
2008-2011 $5,000 electronic limit plus $5,000 paper limit
2012 to the present $10,000 electronic limit
Since beginning of 2012 you can get up to $5,000 of your income tax refund in paper I-bonds. You can purchase additional I-bonds using a revocable living trust. Also a business can buy up to $10,000 per calendar year in I-bonds.
The financialbuff has lots of good information on how to buy I-bonds.
Link - https://thefinancebuff.com/how-to-buy-i-bonds.html
BobK
PS - For a few years beginning in 1999 you could purchase I-bonds from the US Treasury using a credit card. So when the stock market crashed from 2000-2002 people were leveraging up their Ibond purchases using credit cards for the purchases.
I had a hunch that the amounts were different, but I just didn't have enough time to spend doing that research.Do you (or anyone else) perhaps know why the first issue of I Bonds started in Sept. 1998 and then later the progam shifted and regularized its schedule to November/May? It seems weird to me that the Dept. of Treasury wouldn't just wait two months to launch the program in Nov. 1998 versus having that one-off issue.
As for the real versus nominal nomenclature, you're absolutely right. Can you tell that I got a bit tired in the tedium of differentiating?
There are some other opportunities for additional follow-on analysis. I'll see what I can do in the coming months.
Statistics: Posted by matttproud — Tue Apr 16, 2024 1:13 am — Replies 10 — Views 881