3 votes

Stamps - more money printing?

I seem to remember that stamps are legal tender...

Does that mean I can take my (unused) stamps from my old stamp collection and get face value from the post office?

Isn't printing stamps similar to printing money? Or is it exactly the same?

Do you think the real reason they make so many 'different' stamps is so people will 'collect' them? Wasn't this the plan with state quarters?

We should start a meme to have people take unused stamps back to the post office - get our federal reserve notes back!




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Stamps are not legal tender but have been used for private

Stamps are not legal tender but have been used for private transactions. When I was a kid, I remember being at the five-and-ten downtown and my mother paid for something with stamps as she did not have enough change. The clerk (the owner) accepted the stamps at face value. In 1974, a penny shortage was alleviated by a run on one cent stamps. I recall the same store made change by giving strips of 1-centers to customers long after that.

Of course, in other countries, emergencies made stamps a currency. I have stamp money from Russia in 1917, when the war demand for copper made coin shortages. In Germany, private firms tucked stamps into their own coupons to give them value as money.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Stamps are not money...

...nor are they redeemable for money on demand at par.

When was the last time you bought something other than the services of the post office with a USPS stamp? QED.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

Here is a good read

Not sure if you have checked this out but it is pretty interesting as far as history goes.
http://en.wikipedia.org/wiki/Postage_currency

http://shelfsufficient.com - My site on getting my little family prepped for whatever might come our way.

http://growing-elite-marijuana.com - My site on growing marijuana

As I understand legal tender, it's what the government mandates

you must accept in repayment of debts, so stamps would not qualify.

http://www.thefreedictionary.com/legal+tender

Well, that was my thought too...

until I am driving down the Florida Turnpike, and there are exits that plainly state that CASH IS NOT ACCEPTED, SUNPASS ONLY!

One day I will test this and find out what happens if you only show up with cash.

The toll is a current expenditure, not a debt repayment,

so the vendor an set their payment terms as they wish.

You may have also seen signs from sellers saying "No bills over $20 accepted", which is also valid when it applies to current transactions, as opposed to repayment of previously incurred debts.

At least that's my understanding...

ahh..

very interesting point...

I use Blue Wave, but don't expect one of THEIR silly taglines.

Stamp Recall Raises Red Flag

I'm going to mention your post in one I'm writing about the stamp recall right now, so thank you! I was thinking this myself....

Yes - stamps are receipts on services owed by the

Federal Postal Service.

So they are receipts for services owed - just like FRNs.

I assume you have piles of stamps laying around everywhere like some rich American.

:)

I saw the best minds of my generation, destroyed by pandas starving hysterical naked

-Allen Ginsberg

Panda Breeder Actually

Boy am I glad I made the investment early.

Postage increased 50%, from 2 cents to 3 cents...

in July 1932 - During the depths of the depression.

What the heck was that about?

I saw the best minds of my generation, destroyed by pandas starving hysterical naked

-Allen Ginsberg

Gigantic federal budgets in those years...

...so I'm guessing they just wanted more money. Remember there was no real competition for the post office back then, so they could raise prices pretty significantly without losing much business.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."