Advice re Royal Mail stamp swapout

StartledJesus

Reply received on the EBay forum stamp thread. Thanks. 

Savvy_Sue

I'd put their value as of today, rather than what you paid when you bought them.

Price increases don't happen overnight, unlikely to be another this year.

olgadapolga

Savvy_Sue said:

Price increases don't happen overnight, unlikely to be another this year.

News article from 19th May 2022:

https://www-bbc-co-uk.cdn.ampproject.org/v/s/www.bbc.co.uk/news/business-61505862.amp?amp_gsa=1&amp_js_v=a9&usqp=mq331AQKKAFQArABIIACAw==#amp_tf=From %1$s&aoh=16539708006075&referrer=https://www.google.com

Codger1947

Thanks for the heads up.  I'll see if I can buy a hundred or so 2nd class bar-coded stamps.at my local post office.

stampswapper

As there is currently no end date as to when you need to swap out the non-barcoded stamps would it be better to wait until next year when there will undoubtedly have been at least one price increase? That way although the non-barcoded stamps will be invalid to use after 31st January 2023 the swap value will be greater.

izawa

I have £120 worth of stamps, what should I do? Swap now or later?

Westin

izawa - see post above your one..

Codger1947

olgadapolga said:

Savvy_Sue said:

Price increases don't happen overnight, unlikely to be another this year.

News article from 19th May 2022:

https://www-bbc-co-uk.cdn.ampproject.org/v/s/www.bbc.co.uk/news/business-61505862.amp?amp_gsa=1&amp_js_v=a9&usqp=mq331AQKKAFQArABIIACAw==#amp_tf=From %1$s&aoh=16539708006075&referrer=https://www.google.com

My local post office told me they did not yet have any barcoded stamps for sale, so were only selling old ones. When I said I wanted to stock up with new stamps as I was expecting another price rise soon, the clerk said she had not heard of it!

molerat

stampswapper said:

As there is currently no end date as to when you need to swap out the non-barcoded stamps would it be better to wait until next year when there will undoubtedly have been at least one price increase? That way although the non-barcoded stamps will be invalid to use after 31st January 2023 the swap value will be greater.

You get a like for like stamp, first class barcoded for first class old, so there is no advantage to waiting.  There could in fact be a disadvantage in waiting if you have no longer issued  £/p value stamps as if there is a price increase they will buy less of the 2nd class stamps that are issued in exchange.

stampswapper

molerat said:

stampswapper said:

As there is currently no end date as to when you need to swap out the non-barcoded stamps would it be better to wait until next year when there will undoubtedly have been at least one price increase? That way although the non-barcoded stamps will be invalid to use after 31st January 2023 the swap value will be greater.

You get a like for like stamp, first class barcoded for first class old, so there is no advantage to waiting.  There could in fact be a disadvantage in waiting if you have no longer issued  £/p value stamps as if there is a price increase they will buy less of the 2nd class stamps that are issued in exchange.

Yes, but I have a lot of 1st and 2nd Class stamps currently worth £200. If there is a price increase, let's say 10%, then those stamps will be worth £220 and so by waiting till next year the like for like exchange will be £220 in new barcoded 1st and 2nd Class stamps. In the meantime if I send letters and pay for postage at today's rates without using the stamps I've got then theoretically I will gain that £20 price rise. In other words, anyone with £000's of 1st and 2nd Class stamps could make money!