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> While the price cut will be a boon for many consumers, it’s bad news for collectors and investors in so-called “Forever stamps,” the generic stamps valued at
by dpark 11y ago
> While the price cut will be a boon for many consumers, it’s bad news for collectors and investors in so-called “Forever stamps,” the generic stamps valued at whatever the current postage rate is no matter when they were purchased. Since Forever stamps were created in 2007, Americans have scooped them up as a way to hedge against future price hikes that seemed eternally inevitable. But that strategy has now backfired: As former Fortune columnist Allan Sloan put it in a 2014 column, “If stamp prices somehow were cut, millions of Forever holders, including me, would feel cheated.”
Collectors don't care. They aren't buying for face value. "Investors" are idiots if they invested heavily in forever stamps. Stamps have generally tracked pace of inflation. You could put your money almost anywhere else and do as well or better.
I buy forever stamps because it used to be so damned inconvenient to buy (and remember to add) 1 and 2 cent stamps every time they raised prices. The fact that they're lowering the price by 2 cents does not make me feel cheated.
- mturmon 11y agoThose forever stamps are a good idea, and as you say, it's obviously about convenience. There seems to be a culture of complaining about everything the USPS does. Personally, I think it's something of a miracle that for about 50 cents, I can send a letter to anyone in the country.
- michaelbuddy 11y agoyeah and one price drop, people who hoarded forever stamps from 2007, they send a letter, they still saved money from today. They just gained a little less for once. Still a gain if you think of it that way. I'm not in that space, of stamp collecting but investments have a short term gain / loss and a long term gain or loss. it's not that difficult to understand.
- dhimes 11y agoAnd it's not like it's not going to go up again. Hang on to the forever stamps, and buy the cheaper stuff now as needed. I mean, people weren't buying US $10000 worth of the damn things, were they?