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Series I savings bond purchase

thomas_in_acf

I've read here about how to enter savings bond purchases, but I'm still not sure I get it. I got a Series I savings bond for $2,000. Does this then mean that I record the number of shares as 100 and the price paid as $20?

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Sherlock

If you haven't already, you may want to review: https://help.quicken.com/pages/viewpage.action?pageId=3216621

Tom Young

If you're using the Bonds Bought action and assuming you bought one bond then you'd enter "1" bonds at a price of 200:

Image: https://us.v-cdn.net/6031128/uploads/editor/gs/tm5minx7i78i.jpg

If you actually bought two bonds then you'd enter "2" and 100.

thomas_in_acf

Thanks, guys. I guess what threw me off is the base 100 thing (that and the fact that, initially, I set this up as a stock purchase instead of a bond purchase). Anyway, I'm still unclear on why they use base 100 in the first place.

Sherlock

thomas_in_acf said:

Thanks, guys. I guess what threw me off is the base 100 thing (that and the fact that, initially, I set this up as a stock purchase instead of a bond purchase). Anyway, I'm still unclear on why they use base 100 in the first place.

The base 100 thing has to do with the way bonds are typically traded. A bond quote is presented as a percentage of the par value. The par value is usually set at 100 to represent 100% of the bond's face value. For example, a quote of 99 would mean 99% of the face value. If a bond has a face value of $100 and a quote of 99, the bond will costs $99. If a bond has a face value of $1000 and a quote 99, the bond costs $990... So, by dividing the the face value of the bond by the par value (usually, 100), we get a share count that may be multiplied a bond quote to produce a value similar to other types of securities.

thomas_in_acf

Hey, thanks so much. This really helps.