Postal service proposes an everlasting stamp

WASHINGTON — Nothing lasts forever — except, just maybe, the cost of mailing a letter.

After increasing rates 13 times in 32 years, the U.S. Postal Service proposed a way Wednesday for consumers to lock in the price of a first-class stamp, which officials want to raise by 3 cents, to 42 cents, next year.

Postal officials pitched the idea of creating a "forever" stamp that would be good for sending first-class mail no matter how much — or how often — the cost of a postage stamp goes up. The announcement came on the same day that the Postal Service said it would seek to raise the price of a first-class stamp for the second consecutive year.

The forever stamps, which would cost the same as a first-class stamp, would provide a hedge against future postal rate increases and end the exasperating search for 2- or 3-cent stamps that usually follows a price increase. The stamps could pose some unique challenges to the Postal Service, however, and officials say many details still have to be worked out.

The proposed rate increase — which, like the forever stamps, would have to be approved by the independent Postal Rate Commission — would take effect no earlier than May 2007. The Postal Service last raised rates in January, when the cost of a first-class stamp went up by 2 cents, to 39 cents.

The forever stamps, which consumers could squirrel away in a desk drawer for months or years, essentially would gain value every time mailing rates increase.

If the cost of sending a first-class letter is raised to 42 cents next year, for instance, the forever stamp would be sold for that amount. If the first-class rate then increased by 2 cents a year or two later, forever stamps would sell for 44 cents. But forever stamps purchased at the 42-cent rate still would get a first-class letter where it needs to go.

"If you buy it, it can be used forever on single-piece first-class letters," said Stephen Kearney, vice president for pricing at the Postal Service.