premium bondn.
/ˈpriːmɪəm ˌbɒnd/, U.S. /ˈprimiəm ˌbɑnd/ A bond earning no interest but eligible for lotteries; spec. (in full Premium Savings Bond) since 1956, a British government security that offers no interest or capital gain but is entered in regular draws for cash prizes.
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society > trade and finance > stocks and shares > stocks, shares, or bonds > [noun] > bond > types of bond
government securities1707
Sword-blade bond1707
long bond1720
government paper1774
indent1788
premium bond1820
active1835
preference bond1848
investment bond1853
mortgage bond1853
revenue bond1853
municipal bond1858
treasury-bond1858
sices1867
property bond1869
government1870
priority bond1884
municipal1888
income bonds1889
yearling1889
war baby1901
Liberty Bond1917
Liberty Loan1917
victory bond1917
corporate1922
performance bond1938
convertible1957
Eurobond1966
Euroconvertible1968
managed bond1972
muni1973
granny bond1976
bulldog bond1980
Euro1981
granny1981
strip1982
zero1982
society > leisure > entertainment > pastimes > lottery or raffle > [noun] > ticket
blank1567
lottery ticket1676
benefit-ticket1694
horse1726
premium bond1820
coupon1909
scratch-off1985
1820 Times 13 Sept. 3/1 The premium bonds will be delivered with the state bond and dividend warrant on the 1st February, 1821.
1889 Jrnl. Royal Statist. Soc. 52 316 The securities dealt in on the Bourse on the 1st January, 1789, were the following: Indian bonds of 2,500 livres..; lottery notes of 1780, of 1,200 livres each; premium bonds of 1788 and 1789; lottery of April, 1783, of 600 livres [etc.].
1892 Publ. Amer. Econ. Assoc. 7 101 So covert that it has apparently never been recognized..is the sinking fund concealed in the interest paid on premium bonds.
1908 Economist 12 Sept. 477/2 The practical man in the street who knows anything about premium bonds is quite aware that they are in their nature and intention lotteries.
1931 Star 8 May 6/3 Every trick—from premium bonds to guessing the number of beans in a bottle—seems to have been tried.
1956 H. Macmillan in Times 18 Apr. 5/2 Finally, I have something completely new for the saver in Great Britain—a premium bond.
1962 H. O. Beecheno Introd. Business Stud. xiv. 140 The Premium Savings Bond scheme has taken advantage of our national love of a gamble, holding out the possibility of a reward for the few much higher than other savings methods would give.
1982 H. Wiesner Which? Bk. Saving & Investing xxii. 203 Anyone aged 16 or over can buy premium bonds.
2005 National Post's Financial Post & FP Investing (Canada) (Nexis) 24 Aug. fp19 [The U.K. government's] most wildly successful savings instrument over the last few years has been the so-called ‘premium savings bond’, offering people guaranteed principal and—hold your breath—no interest whatsoever.
This entry has been updated (OED Third Edition, March 2007; most recently modified version published online March 2022).
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n.1820