On July 1, 1847, the United States Post Office issued its first general issue postage stamp, a five-cent stamp honoring Benjamin Franklin, the first postmaster general under the Continental Congress, and a ten-cent stamp honoring George Washington.
First class postage rates (1 ounce letter) were established much later in 1863 (6 cents). Today, first class postage is 49 cents but people are less reliant on the mail system and a sign of this was the introduction of the “Forever Stamp” a few years back (2013). The US Postal Service no longer wanted to deal with the sale of 1 and 2 cent stamps when the price increased and people were stuck with a supply of the old rate. I don’t blame them as it was a nuisance. I guess it is a sort of commodities speculation. Should I buy stamps today in anticipation of an increase. Not likely. It is when they announce an increase that you buy what you can. :)
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