Another New Price Hike Looms on ‘Forever’ Stamps

If you're having a bit of déjà vu about this whole stamp price increase discussion, you aren't alone. It was only back in January that we posed the question about forever not meaning forever when it comes to stamp prices.

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'Forever Stamp' Timeline From 2007 to Present

As we covered in January, the first 'Forever Stamp' dates back to 2007, and then in 2011 all first-class one-ounce stamps were classified as 'Forever.' So, once you purchase a 'Forever Stamp' it has no expiration date or change in cost, that is until you run out and have to buy new ones, at the new cost.

Since the introduction of 'Forever' in 2007 at $0.41, there's been a steady increase in cost, with the latest back in January up to $0.68. Now, we're preparing for another increase, not without warning through, as the U.S. Postmaster did share that we should expect hikes every January and July, with 'the price of stamps to increase at an uncomfortable rate to help the USPS get back on track financially.'

SEE ALSO: At What Age Should We Begin Working On A Will?

Prepare For Forever Stamp and Other Postage Increases, July 14

For the second time this year, the USPS will increase the price of the 'Forever Stamp,' this time up to $0.73, up $.05 since January's hike. The increase will go into effect on July 14th, with several other postage rates on the rise as well.

CBS news reported that sending a postcard domestically will now cost $0.56, while postcard and internationally sent letters are expected to go up to $1.65. These increases show a 7.8% rise in USPS rates in order to compensate for '10 years of a defective pricing model.'

The silver lining, though is that those who rent a Post Office Box through the USPS will NOT see a cost in rental prices, and, postal insurance on mailed items are set to decrease by 10% - small wins, but we'll take it.