Treasury securities can be bought at original issue or on the secondary market. At original issue, the Treasury Department sells new securities to the public. On the secondary market, traders buy and sell previously issued securities. Unless otherwise noted, this web site deals with the sale of securities at original issue. (For information on buying securities on the secondary market, contact a broker or dealer.)

The Treasury Department sells securities at auctions conducted throughout the year. (Tentative schedule.) To buy a security at one of these auctions, you must place a bid. You can place your bid directly with the government in a program called Legacy Treasury Direct, or you can place your bid through brokers, dealers, or financial institutions, in what is called the Commercial Book-Entry System.

[此贴子已经被作者于2006-5-17 1:35:48编辑过]