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Is a US War Savings Bond ($25.00) - Series E, Issued June 1942 in my mother's name

payable on death to her father (both are deceased Mom, 1972; Grandpa, 1948) of any value? If yes - how to proceed?

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If the bond in question has never been cashed in, then it has been accruing interest since it was issued and has value. These bonds held a value of 75% of their face value when they were issued and have a value of the market-based yield or the applicable guaranteed minimum investment yield which ever is greater. The cashing in process is outlined at http://www.savingsbonds.com/bond_basics/series-e-savings-bonds.cfm.

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Yep still good take it to the bank

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Actually given it's age and possible rarity try taking it to a coin/currency dealer first. It maybe worth more to a collector then cashing it.
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I checked Ebay, they seem to be selling for 40-50 dollars. Check and see what the bank will redeem it for.
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You may have just hit the jackpot!

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