Series I savings bond purchase

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Member ✭✭
edited June 2022
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?

• Member ✭✭✭✭
edited May 2022
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If you haven't already, you may want to review: https://help.quicken.com/pages/viewpage.action?pageId=3216621

• SuperUser ✭✭✭✭✭
edited May 2022
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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:
If you actually bought two bonds then you'd enter "2" and 100.
• Member ✭✭
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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.
• Member ✭✭✭✭
edited May 2022
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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.
• Member ✭✭
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Hey, thanks so much. This really helps.
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