Freedom Shares

Freedom Shares -

This is a quote from a 1968 newspaper advertisement Ifound recently: "America needs your help. When you buy Savings Bondsand Freedom Shares, you do an important job forfreedom, backing our men in Vietnam and helping tokeep our country economically strong. The need isurgent. What you do counts."

These Freedom Shares, officially called Savings Notes,were available only in combination with Series E bondsof the same or greater denominations as a way toencourage individuals to save and invest in U.S.Treasury savings securities. They were first offeredin May 1967 and were withdrawn from sale as ofOctober,1970. All Savings Notes have reached final maturity and should be cashed in. Freedom Shares wereissued in four denominations, with the first characterof the serial number as follows: $25-Q, $50-L, $75-K,$100-C. These Savings Notes look similar to USSavings Bonds, except that the vignette to the left isthe head of Liberty, and the center vignette is of theCapital dome. And, of course, the name at the topreads 'Savings Note'. The advertisement went on tofurther describe the program:

"Americans have put their savings to work for freedomthrough U.S. Savings Bonds for many years. New FreedomShares do the same thing...plus. Freedom Shares areU.S. Savings Notes. They pay a higher return thanSavings Bonds, 4.74% when held to maturity. And theymature in just four-and-a-half years. These newFreedom Shares - which are not redeemable for thefirst year - are offered on a one-for-one basis with EBonds, but only to people who belong to the PayrollSavings Plan, or Bond -a-month Plan where they bank."