Now that the U.S. Postal Service increased stamp prices and began offering the “forever stamp” last week, people can avoid the hassle of going back to the post office to buy “upgrade stamps” when the prices increase.
The law that allows the forever stamp also indicates that the price increases will never beat inflation. That would make hoarding stamps a poor investment. The only benefit one could derive from stocking up would be the pain of standing in line to buy more stamps later. If stamp price increases don’t beat inflation, it’s better to buy them as you need them.
I don’t know if this concept eluded this guy who purchased $8,000 worth of stamps in Camp Hill, Pennsylvania, or if he just has a large number of letters to send.
(Hat tip to a commenter on The Consumerist.)
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Ha! I knew someone was going to do this sooner or later.
I’m not surprised either, but I am kind of surprised the act of doing so is a news story.
What a horrible idea. I guess everyone knew it would happen sooner or later, and now that it is in the news, I’m sure other people will start doing it is well.
What is even worse is that he could have waited a couple years until right before the next rise in rates and bought a lot of forever stamps then. At least then he would have his $8000 earning interest until that time. (That’s not even getting into the argument that $8000 is way too many stamps).
It sounds like this guy needs to start reading Flexo’s blog!