The US Postal Service has introduced the "forever" stamp. This special stamp, good for any first-class letter weighing up to one ounce, is valid forever, no matter how much postal rates increase. That means consumers can purchase these special stamps at today's rate and use them for years to come, even if postal prices double or triple. And, while there are definitely better places to invest your money in the long term, the forever stamp offers consumers protection against rate hikes and the annoyance of having to purchase one- and two-cent stamps whenever prices do increase. The stamp goes on sale April 12 at 41 cents, the new first-class mail rate that goes into effect May 14.
Here's a thought: In 1968, first-class stamps were six cents. Since then, the price has risen 14 times, including the May 2007 increase to 41 cents. This past December, a new law was passed linking postal rates to the consumer price index, which could cause rates to increase annually. The forever stamp, an idea adopted in Europe years ago, features the Liberty Bell, which hasn't appeared on a US stamp in over 30 years. Who said nothing lasts forever? *smile*
Where to buy these "forever" stamps: http://www.usps.com/prices/prices_forever.htm
HIGHLIGHTS OF POSTAL SERVICE FOREVER STAMP:
The following are highlights of the testimony filed by the Postal Service with the Postal Rate Commission (PRC) on July 14, 2006, outlining proposed details of a Forever Stamp:
- The Forever Stamp is a nondenominated, non-expiring stamp issued as a convenience for single-piece retail mailers. The stamp would be valid for the first-ounce First-Class Mail letter postage regardless of the actual rate on the date of use.
- The first Forever Stamp will be sold at the new rate (42 cents if the Postal Service proposal is approved) and will be available just before rates change.
- The design of the stamp is currently under review and will be announced by the Postal Service at a later date.
- The primary purpose of the stamp is to smooth the transition to new stamp prices when prices change.
- The stamp would be available throughout the year and would be sold through all sales channels, including post offices, vending machines, by mail, the internet or phone.
- The stamp would be available for purchase at the First-Class Mail 1-ounce letter rate until the date of a subsequent rate change. At that point, it would be sold at the new First-Class Mail 1-ounce letter rate.
- Current plans are to sell the Forever Stamp in booklets of 20 stamps.
- The Postal Service considered the experiences of foreign postal administrations in developing its plans for a Forever Stamp. The experiences of Britain and France, in particular, have been useful guides in assessing such a stamp.
- The Postal Service plans to carefully monitor the implementation and sales of the Forever Stamp.
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