Melanie Linn Gutowski is a proud Godmother and ABC.

There are few gifts a godmother can give to her godchild that will stand the test of time. Clothing is outgrown; heirlooms break or are lost; gift certificates aren't exactly practical for babies. One of the most popular and enduring gifts for Christenings, milestone birthdays, and other important occasions has always been a U.S. savings bond.

Many of my family members purchased savings bonds for me on the occasion of my Christening many years ago, including my godparents. When I cashed those bonds as an adult starting a new married life, I had a real sense of this group of adults having invested in my future, supporting me years before I would be able to appreciate it.

Unfortunately, many children will not have that same experience due to new government regulations: at the start of 2012, the United States Treasury discontinued sales of paper savings bonds. It's now no longer possible to visit your local bank in the weeks leading up to a major event in a niece or nephew's life and purchase a paper certificate to tuck into a greeting card.

However, savings bonds haven't been eliminated entirely. The Treasury Department has instituted an online service, TreasuryDirect, to replace the paper system. Though it will purportedly save the department $70 million in processing costs over the next five years alone, this development may not lead to an improved bond buying experience. In order to buy bonds, consumers must first set up a TreasuryDirect account, complete with Social Security and bank account numbers (the system does not accept credit cards). Once a bond is purchased, it remains in the purchaser's account even if it is a gift. While the likelihood of losing a paper bond is eliminated, the Treasury hasn't quite found a good solution to what gift-givers might actually present to the recipient. A variety of printable gift certificate options are available on the Treasury's website though there are no options for religious occasions such as a baptism.

Godparents and others giving gifts for milestone occasions in a child's life may want to open a 529 account for education savings or make a contribution to an account the parents have previously opened.

And of course, there's always cold, hard cash.

Photo: phanlop88
Published: June 5, 2012