A few Questions Say for example you buy a 30 year from a scheduled auction via treasury direct, and you spend $10,000. Would that be considered a $10,000 bond? or would it be 100 $100 bonds? Basically are 30 year bonds only sold in $100 increments? Im just interested in the perspective that you can enter a bid with treasury direct for a 30 year auction and get a price that is much lower then the secondary market price. http://www.treasurydirect.gov/RI/OFNtebnd There is a 45 day holding period for all securities after auction purchases. Also to sell a security thru their selldirect program it costs $45 per security, which is the reason im asking the above question about larger denomination bonds. Because selling 100 $100 bonds with a fee of $45 is funny.