With the last increase in postal stamps, the Post Office created the "Forever Stamp". Supposedly this stamp will be honored for any letter under an ounce forever, regardless of any future increases.
Makes me wonder if anyone has made an effort to buy thousands of these and hold on to them for a few years, thinking to make money reselling them for less than the USPS charges for future stamps.
After a little Googling, I found that a few people have had the same thought. Some guy bought $8000 in Forever Stamps the day they went on sale.
At first this seemed like a good idea to me. Postal prices have risen roughly 10 cents every ten years (9 cents 1997-2007, 10 cents 1985-1995, and 12 cents 1975-1985). Theoretically, the rate will stay about the same, so in ten years stamps will be about $.51. So $8000 of stamps nets almost $2K - about a 24% profit (I'll rely on Captain Math, AKA Snarky Old Guy to correct me if I'm wrong). Then I looked at what simply investing $8000 will get you in a basic savings account (at 3%) - about $2800 (again relying on C.M, AKA SOG).
Not a sound investment, and to further prove that I found this article. The article basically states that when inflation is taken into account, stamps are actually getting cheaper, because the rise in the cost of stamps is actually below that of inflation. So that shoots that get-rich-scheme right in the buttocks.
Can you tell it's a slow day at work???
Wednesday, October 17, 2007
Entrepreneurial Philatelists
Labels:
Life,
time wasters
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