War bonds, sometimes called war savings bonds, were savings bonds that supported the armed forces during a conflict. During World War II, the United States made a large push for war bonds to help fund the costly conflict. Like any other savings bond, the purchaser of the bond pays a percentage, in this case 75% of the face value. When the bond matures (in this case 10 years), the purchaser of the bond receives the face value plus interest. War bonds were incredibly successful during World War II raising $185.7 billion dollars with over 84 million Americans having bought at least one bond. On May 16th, 1945, nine days after Germany’s surrender, the U.S. Navy announced the capture of the U-505 that had taken place in June 1944.

With a U.S. Navy crew, the sub toured East coast cities as part of the war bond effort. The war in the Pacific was still being fought, and there was concern that with the Germans out of the war, the public would be less enthusiastic about buying war bonds. The sub toured from Portland, Maine all the way to New Orleans then back north to Boston. The sub stayed in each port for approximately 2 weeks. The cost for a tour on board the U-505 was a war bond. These special war bonds were stamped “Purchased to visit captured German U-boat #505”. After the war in the Pacific ended, the U-505 was sent to Portsmouth, New Hampshire, until the decision was made to transfer the sub to the museum as a memorial and exhibit in 1954.