Forever Stamp Prices Surge in New York With More Hikes Ahead

I'm hoping I'm not the only one confused about the idea of an item that was marketed as being 'forever,' yet every year, or multiple times a year, the cost of said items goes up.

I'm talking stamps.

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What's The Story Behind Forever Stamps?

Believe it or not, the first ever Forever Stamp went on sale back in 2007, and then beginning in 2011, ALL first-class one-ounce stamps became 'forever' (except for coiled stamps sold in 500, 3,000 and 10,000 rolls). Once purchased, a Forever Stamp can be used to mail any one-ounce letter regardless of when that particular stamp was purchased, or what the price of stamps were on that given day.

So, to put things simply, once you purchase a Forever Stamp it has no expiration date. It just means whatever the cost of a First-Class Mail stamp happens to be at the time you buy it, is the amount you'll pay, that is until you run out of stamps...

READ MORE: Postal Worker In NY State Admits To Stealing Money

Forever Stamp Prices Increase at 'Uncomfortable Rate'

Since the first Forever Stamp in 2007, priced at $0.41, there's been a significant increase, with the latest one hitting on Monday, January 21st at $0.68. Now a year and a half ago, U.S. Postmaster General Lous DeJoy shared that we should expect 'the price of stamps to increase at an uncomfortable rate to help the USPS get back on track financially' and indicated that hikes in prices would come every January and July.

In just five years time, the cost of the Forever Stamp has gone up 36%.

Some are suggesting that we stock up on stamps at the current price before the next increase, but it seems like people don't even utilize stamps all that much as it is. The question becomes, is it cheaper to invest in a stockpile of 'current' Forever Stamps that will undoubtedly get lost in your junk drawer between now and the random time you need them, or just buy a smaller amount at a higher price per stamp in the event you need to throw something in the mail?

Remember that time an actual Hudson Valley Post Office was listed for sale?