This afternoon, as reported on USAToday.com the U.S Postal Service announced that is going to move forward with plans to release the widely debated Forever Stamp. There has been talk of the Forever Stamp for over a year now but many consumer advocate groups have been boycotting the stamp claiming it is a just another U.S Postal Service “cash-cow” designed to bilk Americans out of their money.
The Forever Stamp? When did the U.S Postal Service start selling "investments"?
The Forever Stamp is essentially a stamp that is sold at a price equal to that of 1st Class Mail Stamp and will never require additional postage even after the price of a 1st class stamp goes up. The reasoning behind this concept is that the selling price of 1 and 2 cent stamps simply does not justify the cost to print and distribute these low demonination stamps. Now with the advent of the Forever Stamp these 1 and 2 cent stamps will not be needed as they are only typically used by people who have older stamps that were purchased prior to a price increase.
I strongly believe that this new stamp is simply a cash-cow and scam by the Postal Service. I would be willing to bet that not only will the Postal Service realize huge savings by cutting the production of low demonination stamps they will also realize huge revenue increases as people will buy the Forever Stamps feverishly as an investment. Although it’s a fact that given the USPS’s record of raising mailing costs the Forever Stamp will be without a doubt be a solid investment, I feel the concept is just plain wrong. You see most of the Forever Stamps purchased will never be used as the stamps will get placed in strorage and probably even misplaced as the years go by. The Postal Service expects this to happen and as such will put many millions of dollars in their pockets knowing full well there will never be any costs associated with the Forever Stamp sales as most will never get used. I say shame on the Postal Service.