The U.S. Postal Service has another new gimmick in its effort to emerge from an ocean of red ink: a global forever stamp.
USPS has introduced a new stamp that allows customers to mail letters anywhere in the world for $1.10, even if the cost of stamps goes up in the future. The stamp can be used on letters weighing one ounce or less.
The Global Forever stamp works like the U.S. Forever stamp for domestic mail: Stock up on them now, and you can mail your letters for a discounted rate when stamp prices rise in the future.
Now for the bad news: USPS also increased domestic stamp prices.
As of Jan. 27, regular domestic letters weighing one ounce or less now cost 46 cents to mail, a one-cent increase. Each additional ounce costs another 20 cents. A domestic postcard stamp has risen to 33 cents.
International mailing costs are also going up. It currently costs $1.10 to send a letter weighing one ounce or less to any international address. Previously, it cost 85 cents to mail a letter to Canada or Mexico, and $1.05 to mail a letter to other international destinations.
In November, USPS announced it had lost a record amount in a single year—$15.9 billion—putting it one step closer to insolvency.