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Discussion - Member to Member Sales - Research Center
US Postal Service seeking to hike cost of first-class stamp to 73 cents
Associated Press Finance
Tue, Apr 9, 2024, 4:21 PM EDT1 min read
12
WASHINGTON (AP) — The U.S. Postal Service signaled plans Tuesday for a rate increase that includes hiking the cost of a first-class stamp from 68 cents to 73 cents, part of an overall 7.8% increase to take effect this summer.
The request was made to the Postal Regulatory Commission, which must approve the proposed increase that the Postal Service contends is necessary to achieve financial stability. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 14.
U.S. Postmaster General Louis DeJoy previously warned postal customers to get used to “uncomfortable" rate hikes as the Postal Service seeks to become self-sufficient. He said price increases were overdue after “at least 10 years of a defective pricing model.”
In its filing, the Postal Service said it's also seeking price adjustments on special services such as money order fees and certified mail. But there will be no price increase for post office box rentals, and postal insurance will be reduced by 10% when items are mailed, the postal service said.
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Oh to have a first Class stamp cost as little as 73 cents. Here in "Rip-Off" Britain it is now £1.35 (ie $1.70) for a first class stamp and £0.85 ($1.07) for a 2nd Class stamp. The cheapest Standard International rate is £2.50 ($3.15)
Just "count your blessings" as we say in Old Caledonia.
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The Guardian printed an interesting article about working for the post office a few days ago. The link is below.
https://www.theguardian.com/commentisfre ...
The idea that privatization is the answer to all government run or owned infrastructure has been damaged severely by two examples in the UK, the Post Office/Royal Mail and the water supply companies. Interesting in the article is that normal letter mail plays very much a second place to parcel deliveries for the major ecommerce companies when it comes to timely deliveries. As far as Britain's fresh water supply goes there are news articles almost daily on sewage contaminated rivers.
(Modified by Moderator on 2024-04-10 06:05:36)
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It seems that our Postmaster General is doing his best to run the Postal Service into the ground. As many people do, I get my medicines through a mail order pharmacy. It usually takes 2 days from Kansas City to Fargo. It has been taking 6 days to go the last 50 miles due to DeJoy's slowing down the mail. I also sent some stamps to a guy in Miami, FL on January 13. He received them a week ago. WOW
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I have long thought that the best way to handle the USPS financial mess is just to reduce mail delivery to Mon., Wed., and Fri.
We had a large, heavy, carton to be mailed yesterday. The USPS would not pick it up. UPS picked it up within an hour after we phoned.
I love the big shiny outside blue box the USPS shows in its' postal increase announcement. All of these boxes have been removed around us due to theft of the mail. In a couple of cases even the box has been removed by forklift or large truck.
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Brechinite is correct. The United States has one of the least expensive postal services in the world.
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Leave 1st class mail alone... Increase the price of bulk rate mailings. Who needs all the junk mail!
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If I can mail a letter from Florida and put in in my daughter's hand in California in 5 days or less for 73 cents I call that a bargain.
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In the category of unintended consequences ......
I find it interesting that APS US approval sale books circulate sometimes for a couple of years.
The mint FOREVER stamps in these circuit have selling prices reflecting prior postal rates at the time the approval book was initially put into circulation.
Consequently a 2018 Forever stamp on approval at say...10¢ over face in 2018 rates is being sold below face value as a result of rate increases raising the face value of the Forever stamp but the circuit book still stuck with the original net value offering.
I just bought a whole approval book where the face value of the stamps was now more than the net price being asked.
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And Roy's lot of discount postage sits unsold..... Other than Christmas cards my wife uses less than a book of stamps a year, and I refuse to purchase forever stamps, so the letter rate change doesn't bother. I suspect they want to raise packages AGAIN or come up with some more creative zone pricing. That bothers me more.
Greg
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Associated Press Finance
US Postal Service seeking to hike cost of first-class stamp to 73 cents
Associated Press Finance
Tue, Apr 9, 2024, 4:21 PM EDT1 min read
12
WASHINGTON (AP) — The U.S. Postal Service signaled plans Tuesday for a rate increase that includes hiking the cost of a first-class stamp from 68 cents to 73 cents, part of an overall 7.8% increase to take effect this summer.
The request was made to the Postal Regulatory Commission, which must approve the proposed increase that the Postal Service contends is necessary to achieve financial stability. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 14.
U.S. Postmaster General Louis DeJoy previously warned postal customers to get used to “uncomfortable" rate hikes as the Postal Service seeks to become self-sufficient. He said price increases were overdue after “at least 10 years of a defective pricing model.”
In its filing, the Postal Service said it's also seeking price adjustments on special services such as money order fees and certified mail. But there will be no price increase for post office box rentals, and postal insurance will be reduced by 10% when items are mailed, the postal service said.
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06:18:38pm
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re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
Oh to have a first Class stamp cost as little as 73 cents. Here in "Rip-Off" Britain it is now £1.35 (ie $1.70) for a first class stamp and £0.85 ($1.07) for a 2nd Class stamp. The cheapest Standard International rate is £2.50 ($3.15)
Just "count your blessings" as we say in Old Caledonia.
Login to Like
this post
re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
The Guardian printed an interesting article about working for the post office a few days ago. The link is below.
https://www.theguardian.com/commentisfre ...
The idea that privatization is the answer to all government run or owned infrastructure has been damaged severely by two examples in the UK, the Post Office/Royal Mail and the water supply companies. Interesting in the article is that normal letter mail plays very much a second place to parcel deliveries for the major ecommerce companies when it comes to timely deliveries. As far as Britain's fresh water supply goes there are news articles almost daily on sewage contaminated rivers.
(Modified by Moderator on 2024-04-10 06:05:36)
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re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
It seems that our Postmaster General is doing his best to run the Postal Service into the ground. As many people do, I get my medicines through a mail order pharmacy. It usually takes 2 days from Kansas City to Fargo. It has been taking 6 days to go the last 50 miles due to DeJoy's slowing down the mail. I also sent some stamps to a guy in Miami, FL on January 13. He received them a week ago. WOW
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this post
Approvals
re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
I have long thought that the best way to handle the USPS financial mess is just to reduce mail delivery to Mon., Wed., and Fri.
We had a large, heavy, carton to be mailed yesterday. The USPS would not pick it up. UPS picked it up within an hour after we phoned.
I love the big shiny outside blue box the USPS shows in its' postal increase announcement. All of these boxes have been removed around us due to theft of the mail. In a couple of cases even the box has been removed by forklift or large truck.
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re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
Brechinite is correct. The United States has one of the least expensive postal services in the world.
3 Members
like this post.
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re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
Leave 1st class mail alone... Increase the price of bulk rate mailings. Who needs all the junk mail!
5 Members
like this post.
Login to Like.
re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
If I can mail a letter from Florida and put in in my daughter's hand in California in 5 days or less for 73 cents I call that a bargain.
4 Members
like this post.
Login to Like.
Approvals
re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
In the category of unintended consequences ......
I find it interesting that APS US approval sale books circulate sometimes for a couple of years.
The mint FOREVER stamps in these circuit have selling prices reflecting prior postal rates at the time the approval book was initially put into circulation.
Consequently a 2018 Forever stamp on approval at say...10¢ over face in 2018 rates is being sold below face value as a result of rate increases raising the face value of the Forever stamp but the circuit book still stuck with the original net value offering.
I just bought a whole approval book where the face value of the stamps was now more than the net price being asked.
3 Members
like this post.
Login to Like.
Approvals
re: US Postal Service seeking to hike cost of first-class stamp to 73 cents
And Roy's lot of discount postage sits unsold..... Other than Christmas cards my wife uses less than a book of stamps a year, and I refuse to purchase forever stamps, so the letter rate change doesn't bother. I suspect they want to raise packages AGAIN or come up with some more creative zone pricing. That bothers me more.
Greg
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this post