You know those paper bonds that you got from Grandma and Grandpa as a kid? Well kiss those goodbye! Yup, as in non-existent. It looks like the Treasury is being forced to make some serious cut backs and one of those cutbacks is physical United States savings bonds. The Bureau of the Public Debt made this announcement on July 12, 2011.
The official date for a 100% phasing out of paper treasury bonds is slated for January 1, 2012 according to Treasury Direct. Their goal is to save the US tax payer 70 million dollars over the course of five years with this new procedure.