With the collapse of the USSR, many documents and securities lost their significance. These include the 1982 Domestic Winning Bonds. Once these papers, being investments in the future of the country, could promise their owner a certain profit. Many Soviet citizens preferred to keep their savings in the form of winning loans. But what to do with them now? Do these papers have any value and is the state ready to compensate for their value? We offer to understand the purpose of winning loans and their cost in the modern market.
Theory and practice: what is a loan and why take it
To better understand what the 1962 state domestic winning loan was, you need to deal with a few economic terms. What, for example, does the word “loan” mean?
A loan (sometimes: a loan) is a type of relationship governed by an agreement in which one party transfers money or tangible goods to the management or ownership of the other with a condition of repayment after a certain period. Very often this concept is identified with the concept of “credit”, but it is worth knowing that there are important differences between them:
- A loan can be not only money, but some things or real estate.
- A loan does not always imply a reward to the one who gave it (that is, if we talk about money, only the amount that was taken in the loan is returned, without interest).
You can describe it this way: in a famous story about friends from Prostokvashino, the cat Matroskin takes a cow from the collective farm for a while. He receives milk, which he can sell or drink on his own, and over time he even has a calf. At the end of the contract, Matroskin must return only the cow - milk, profit received from it and the calf remain with him. This is a loan.
The kind of loans that we consider in this article acted a little differently. The state acted as the cat Matroskin, while citizens bought securities, thereby plugging budget holes and helping the country develop. Therefore, payouts on winning bonds were not very significant.
Types of loans
So, having decided what the loan is, we can move on to understand what the purpose of the 1982 state internal loan was.
Typically, loans are classified by long-term (term, long-term, etc.) or by type (material or monetary, interest, interest-free). Winning loans, which also have their own classification, stand apart.
What is a winning loan?
The 1982 State Winning Loan was of this particular type. A win is called a loan in which payments are received only for those bonds that are included in a special table. Winning loans are of two types: win-win, when the funds for the loan at different periods of time are received by everyone who bought the bonds, and interest-bearing when the borrower receives a fixed amount on the loan (that is, returns the cost of the bond) and the interest played.
What did the loan look like?
The 1982 State Winning Domestic Loan was issued in the form of bonds (securities) for a value of 25 to 100 rubles — quite substantial amounts in the Soviet Union, where the price of the ruble reached 160 dollars. Their purchase made out a kind of agreement between the buyer and the state: now a citizen invests his money in the purchase of securities, and the state then pays their value together with a percentage profit. Anyone could cash out the papers, their paperwork did not require additional documents.
Purpose of the 1982 state loan
For the state, bonds were the best way to attract people to invest in the country's needs. People, counting on profit on winning loans, gladly exchanged their savings for them and waited to be among the lucky ones. Payments on bonds of the 1982 state internal winning loan could be delayed for several decades, which enabled the state to quickly receive investments and then repay the loan over time. It is no secret that Russia, which became the legal successor to the Soviet Union, still has not paid its debts for government bonds of the 1982 domestic loan.
Why did people buy bonds?
Of course, many people realized that by buying bonds, they are more likely to support the state than to make a profit. Therefore, the 1982 state loan was popular not only because of the desire of Soviet citizens to enrich themselves. Sometimes it was the only opportunity for people of that time to invest their money. At the end of the existence of the USSR, a peculiar financial situation developed in the country: because of the artificial containment of inflation, rising wages and a shortage of goods, people simply had nothing to spend their savings on.
Sometimes the distribution of bonds of a state winning loan (1982 was no exception) occurred by force - securities were issued instead of salaries at state enterprises that did not have the means to pay employees. Cashing out bonds deferred payments and enabled the company to improve its financial position.
What was the gain?
The win rate was 3% of the loan. Such a small percentage of profits, of course, did not allow you to get rich with lightning speed, but it was a pleasant bonus for citizens who cash out their bonds. Moreover, as a rule, several bonds of the state internal winning loan were bought at a time.
In 1982, there was a shortage of goods in the country, especially for so-called luxury goods. The loan gave people a chance to win not only a small percentage, but also, for example, a car, for the purchase of which there were usually long lines.
Who paid the winnings?
Sberbank paid cash for the 1982 state domestic winning loan. As a state bank, it was responsible for timely payments up to the collapse of the USSR. From 1991 to 1992, there was an exchange for new type bonds, payments on which the Russian Federation made instead of the USSR.
Cashing of papers from 1992 to 2002
A huge country broke up - the Soviet Union. Riots began, the economic and political crisis. Inflation, no longer controlled by anything, rapidly influenced prices - so much so that simple goods soon began to cost millions. In these conditions, it was becoming increasingly difficult for people to trust the state and banks. Therefore, few dared to exchange their papers confirming the 1982 state internal winning loan for a new type of paper - the 1992 winning loan. Those who dared to do this or took such a step because of lack of money, in most cases received compensation in the amount of the value of bonds. Only about 30% of all securities turned out to be winning, and their owners could get at least some profit. But even this money soon lost its value: along with the denomination of the ruble and rising prices, payments on bonds turned into pennies. Payouts continued until 2002.
Those who did not exchange their securities for 1992 bonds could rely on compensation for bonds from 1992 to 1993. For every 100 rubles. bonds paid 160 rubles.
In 1994, repurchase of bonds by banks ceased. The amounts of unpaid compensations turned into an impressive state debt to their citizens - after all, many Soviet people preferred to keep all their savings in securities.
Those who kept the bonds (and there were those who, in their hearts, not hoping for a government, simply threw them away or destroyed them!) Received new hope for the return of their money in 1995. A law was passed according to which unpaid funds on bonds were transferred into “debt rubles”. Payments resumed, however, given inflation and the new value of the ruble in the world market. So, the largest amount that could be received was 10 thousand rubles! True, an exception was made for war veterans - they could be compensated up to 50 thousand.
Increasing interest in the topic
Not so long ago, 74-year-old pensioner Yuri Lobanov, who lives in the city of Ivanovo, decided that Russia's policy on bonds is illegal. He decided to regain the money laid on him for the papers and wrote statements to various authorities, first in the region, and then in the country. Without waiting for an answer, citizen Lobanov, after a little reflection, decided to appeal to the European Court of Human Rights and did not fail. The court approved the case and in 2012 ordered to pay a pensioner 1.5 million rubles. The amount was paid, and the case of Yuri Lobanov became an unusual precedent for Russia.
Bonds today
Many citizens, not wanting to lose their money, decided to wait for a change in the situation in the country. The payments promised to them in the 90s did not go into any comparison with the real amounts that should have been paid on bonds. But the fate of the 1982 state loan bonds in Russia was sad. The situation has changed, the economy in the country has stabilized, and debt has remained debt. Probably, many will remember the thick bundles of bonds stored at home, and someone may still be hoping that the state will remember them and be able to compensate. One way or another, as a means of payment, they are not valid now and nominally cost nothing.
Therefore, the question "what to do with bonds these days?" still relevant. Analysts do not advise hurrying to part with the papers: the likelihood that the country's policy regarding them will change is very small, but still exists. There are also a couple of reasons so far to keep securities - these are collectors and resellers.
Who should sell bonds?
For 2017-2018, an increase in the prices of bonds of the domestic winning loan was noted. Therefore, experts advise to wait and not to sell paper right now. If you are still determined to part with bonds, you should start looking for buyers and be prepared for the fact that the price for bonds will be significantly lower than their face value and start from a few cents or rubles (this will make sense when selling several packs). Do not rush to sell bonds to the first reseller found - compare prices and analyze. Be sure that such cheap prices are a hoax, as there are completely legal ways to exchange securities for much larger amounts.
For example, the Deposit Insurance Agency offers to buy bonds. The APV offers to buy a one-ruble bond for 49 thousand rubles, and a fifty-ruble one for 24.5 thousand. There are other private resellers who are ready to purchase securities. On average, one ruble on bonds from private resellers is approximately 400-600 rubles.
You can sell securities at Sberbank, but the price for them will be slightly lower.
