Beautifully engraved Defense Savings Bond from the United States of America
issued in December 1941. This historic document was printed by the Bureau of Engraving and Printing and has an ornate border around it with a vignette of Washington. This item has the printed signature of the U.S. Secretary of the Treasury, Henry Morgenthau and is over 79 years old. Condition is excellent with light vertical fold from original mailing. The high denomination $500 Defense Savings Bonds issued in December 1941 are quite Rare. Perforation on top. Excellent condition.
$500 United States Defense Savings Bond
Series E U.S. Savings Bonds were promoted and marketed by the United States of America government as war bonds from 1941 to 1980. When Americans refer to war bonds, they are usually referring to Series E bonds. Those issued from 1941 to November 1965 accrued interest for 40 years; those issued from December 1965 to June 1980, for 30 years. They were generally issued at 75 cents per dollar face value, maturing at par in a specified number of years that fluctuated with the rate of interest. Denominations available were $25, $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000. Series E bonds were issued only in registered, physical form and are not transferable. The guaranteed minimum investment yield for the bonds was 4 percent, compounded semiannually.
After the attack on Pearl Harbor, Defense Bonds became known as War Savings Bonds, or informally as War Bonds.
During WWII, Government Bond rallies were held throughout the country with famous motion picture celebrities to help promote the bonds and the war effort. Free movie days were held in theaters nationwide with a bond purchase as the admission.
The physical size of the bond was reduced in 1944 to save paper and money. Towards the end of the war, the bonds were renamed Victory Bonds.
History from Savings Bonds Pro
Stock Certificate Research Service).