Matt’s Savings Bonds

Savings Bonds given to Matt Steinhoff when he was a babyWife Lila has been doing some major reshuffling of her office since she retired in November. Part of it is moving all the DedicatedIT  business records and stuff to Son Adam, her co-owner’scare. One of the things she’s finding is that your kids may move out, but some of their stuff lingers behind “so it doesn’t get lost.”

One of the things that lingered was a envelope with two U.S. Savings Bonds and the gift envelopes they and other bonds had lived in. Dad and Mother gave Son Matt bonds when he was a baby, and Mother made some out in memory of her parents – my grandparents, Roy and Elsie Welch.

“For when you are a big boy”

Savings Bonds given to Matt Steinhoff when he was a babyThis one was for his first birthday. “From Pa Pa and Grandmother: Matt, this is for something you need when you are a big boy. Love forever.

For his 4th Christmas

Savings Bonds given to Matt Steinhoff when he was a babyMother wrote “My dear little boy, this coming year will be a special time for you! I know this paper means very little to you today, but in a few years it could become something very good to have – Have a wonderful day! I’ll be thinking of you this Xmas day. Love Gran.

 $25 DID grow over the years

Matt sent this note:

Savings Bonds given to Matt Steinhoff when he was a babyThe back of the envelope shows when the bond was purchased and the amount for which it was exchanged. I’m pretty sure every bond was $25 face value and each was purchased for $18.75. Those bonds were
redeemed in December 1998.

The two remaining bonds are worth…

October 1975…  $133.15
December 1975… $134.75

Both stopped earning interest in 2005. You can calculate their value here…

I would have sworn those bonds paid for part of my Stidham house furniture but, given the 1998 date, those bonds probably paid for my Kirkman apartment furniture… which is still in use in my Camellia house 14 years later. So, many thanks to Pa Pa and Gran.”

 

Three generations of furnishings

Lila, Mark and Lila Steinhoff Christmas 1973

We’re going to use the proceeds of those last two bonds to open a savings account for Malcolm. I’m sure he’ll need to furnish an apartment in a few years and it seems only fitting that his great-grandparents buy him a sofa since they bought me and you both a sofa.
Three generations of furniture from those two, right? Didn’t they buy your original fold-out sofa?

He was right. When Lila and I got married, the only things we had in our living room were some concrete block and board bookcases and a twin bed mattress Lila had covered with corduroy, plus a few cushions, that served as a couch.

The first time Dad and Mother came for a visit and had to sleep on the floor on the “couch,” he pressed $300 in my hand and said, “Before we come back, make sure you have a hide-a-bed sofa for us to sleep on.”

Here Lila, Brother Mark and Dad sitting on the sofa in our first house in West Palm Beach. The Cape Steinhoffs had come down to Florida for Christmas.

5 Replies to “Matt’s Savings Bonds”

  1. My siblings and I received U.S. Savings Bonds from our grandfather for all special occasions. At the time, they didn’t register much, but in 1971 I bought my first new car–Ford Pinto from Ford Groves @$1,850 right off the lot–and did so with the proceeds from the bonds I’d accumulated over 20 years. Interestingly, my youngest brother Clayton has done the same for his myriad nieces and nephews and each of my four kids has ‘cashed in’ at age 21. I’ve watched as their eyes lit up at this ‘found money’. Regrettably, the obligations of the United States aren’t worth much any longer. Is default right around the corner?

  2. Ken, our house in Florida in 1964 had a king size bed purchased with a gift from my parents and a kitchen table and chairs purchased with a gift from Jerry’s parents. Our sofa was a few of Jerry’s mother’s quilts folded on the floor. Our realtor took pity on us and lent us a porch glider, an old Electrolux vacuum cleaner, a tiny chest, a coffee table and some nesting tables, which we still have after purchasing them for $25 along with the aforementioned items minus the glider. Mother and Daddy came to visit in September, 1964 for our first anniversary and brought a few items from their house. When they went back to Cape, the owner of the gas station we frequented informed us that Daddy had given them a sum of money to pay for us a few tanks of gas. Can you imagine? That was before credit cards!

  3. It’s interesting…… our generation seemed to know how to “make do”. I sometimes watch House Hunters on Home and Garden Channel. I watch the young couples viewing houses and hear the wives say, “but it doesn’t have granite counter tops or stainless appliances and there’s no master bath, and our king size bed won’t fit in that small master bedroom, etc.” I chuckle at the younger generation thinking they should have it ALL, right from the start.

  4. A few of my kids lived in dormitory rooms nicer than my first home. Ah, I remember fondly searching for concrete blocks upon which to place a couple of 1X12’s to hold my black and white TV, portable stereo and the rest. Worked then and would still. We indeed are getting a bit long in the tooth. Not that there’s anything wrong with that.

  5. Oh yeah,
    Concrete blocks and 1x lumber for an entertainment center with the requisite lava lamp and a huge 19 inch tv. A mattress in the corner for a bed and a milk crate as a night stand. A beat up sofa and a couple bean bags and we had a home!

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