- 1). Open an account with TreasuryDirect (treasurydirect.gov) and choose to have funds automatically debited from your bank account.
- 2). Check the auction schedule for the type of long-term treasury you wish to purchase. Treasury notes in two-, three-, five- and seven-year maturities are sold monthly. Treasury notes in 10-year maturities are auctioned in January, March, April, June, July, September, October and December of each year. Thirty-year treasury bonds are sold quarterly in February, May, August and November.
- 3). Submit your non-competitive bid (individual investors are limited to this method) for the long-term treasury that you wish to purchase by noon Eastern Time on the auction date. Treasury notes and bonds are auctioned in $100 denominations with a $100 minimum. In a non-competitive auction, you agree to accept the yield that is decided by the market and are guaranteed to receive the exact bond you want in the quantity you want. For example, if you bid $500 on a 30-year bond, you will receive five bonds in $100 denominations. You will not know the yield on the bonds until the auction has ended.
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