My daughters grandma just said shes gonna buy my daughter a 50 dollar saving bond. I don't even know what it is. She said if i wait til her 18th birthday to cash it, it can be doubled but idk what it is.

Thanks

Read up on it here:

http://www.treasurydirect.gov/

Basically it's a $50 face item that grandma paid $25 for. It can't be cased for at least a year and has a penalty for the first 5.

At 18 years, it *might* be worth $50 or $60. (Bonds bought in 1991 are not worth $64, but the interest rates have changed over the years.)