Are stamps legal tender?

[TrueBlueTerrier]

http://blog.royalmint.com/are-stamps-legal-tender/" onclick="window.open(this.href);return false;

From the Royal Mint.

From April 30th stamp prices will rise by almost 25%.

The price of a first-class stamp for a standard letter will go up from 46p to 60p
A second-class stamp for a standard letter will go up from 36p to 50p
A first-class stamp for a large letter weighing up to 100g will rise from 75p to 90p
A large letter sent second-class will cost 69p, rather than 58p
Parcels, franked mail, and recorded post will also be going up in price

We have seen lots of Tweets from people who intend to bulk buy stamps now, and many have suggested that stamps are legal tender. This is not the case.

Legal tender has a specific meaning that we have described in a previous blog post. While you are free to accept stamps as payment for a service or goods, there is no legal obligation for you to accept them when offered and you have no legal recourse if payment in stamps is refused!

Whether you can buy stamps now and resell at below face value in a few weeks time is a different matter entirely and one we cannot comment on…but we’d love to hear what you think!

[CORTINA]

Well if you bought 1000 at 46p and sold them at 55p you have profit of £90....

better than any bank rate interest.... nearly 20% increase

£460.. get back £550

Buy 10,000 make £900..... sell every stamp 5p cheaper than RM

Nice little earner the more you can buy. the more can sell, the more you make....

I cannot see that it is not legal....

You pay the full price to R M, i assume it up to you what you do with them....

[RedBagMan]

Plus ... if they are classed as legal tender - like Gold Sovereigns - that would make them exempt from Capital Gains Tax ...

FILL Y'BOOTS

[TrueBlueTerrier]

Plus ... if they are classed as legal tender - like Gold Sovereigns - that would make them exempt from Capital Gains Tax ...

FILL Y'BOOTS

But the article from the Mint says stamps are NOT legal tender.

[fishtank]

Well if you bought 1000 at 46p and sold them at 55p you have profit of £90....

better than any bank rate interest.... nearly 20% increase

First you have to come up with £460
Then you would have to sell them on.
Do you know anybody who needs 1000 stamps?
If you sell them on ebay they have their fees...and paypal...and there's postage.
Then there's your time.
It would be easier just to work your day off.

[clashcityrocker]

But if you bought a million - you could make ££90 000 profit.
Easy money.
If you had the capital to purchase a godzillion you could probably retire.

[fishtank]

If you had the capital to purchase a godzillion you could probably retire.

Fortunately the times when banks would lend you a godzillion on the strength of such a half-assed business plan are probably behind us.

[CORTINA]

well said ... clashcityrocker... you understand how to make a quick killing out of a money making opportunity...

Is it legal...as i said i assume so ..... just think someone is going to flog them on E-BAY.... they flog anything and everything on that site........if it can be done ... someone will do it... a fact of life...

[fishtank]

[POSTMAN]

Every little helps...
http://www.ebay.co.uk/itm/100-x-First-1 ... 41640fb05b" onclick="window.open(this.href);return false;

Also,Ebay,peeps really really do buy s**t.

[CORTINA]

Every little helps...
http://www.ebay.co.uk/itm/100-x-First-1 ... 41640fb05b" onclick="window.open(this.href);return false;

Also,Ebay,peeps really really do buy s**t.

Just proves my earlier post...... anything can sold on e-bay.....

SOMEONE WILL SELL STAMPS...AND SOMEONE HAS....

The 100 stamps were sold for £54 ... the buyer could have bought them for £46 at any post office......

Fools buy anything on E-Bay without thinking.... it seems....what a plonker...

[TrueBlueTerrier]

http://www.royalmailchat.co.uk/communit ... 18&t=44206" onclick="window.open(this.href);return false;

[CORTINA]

http://www.royalmailchat.co.uk/communit ... 18&t=44206

Well done TrueBlueTerrier...... for finding the item ..part of it below...


TELLY art dealer Jeff Salmon splashed out £250,000 on STAMPS after the Royal Mail revealed plans to hike their prices.

And he reckons he'll now make tens of thousands of pounds in profit by selling them on.

The star of primetime Channel 4 auction show Four Rooms spotted a chance to cash in earlier this year when his WIFE told him about the national postal service's proposed price rises.

And he was rubbing his hands this week after the hike was given the go-ahead.

Jeff now plans to sell the lot to companies by undercutting the price rise to net him "the easiest money of his career".

Jeff said: "When my wife Lucia pointed out the price of stamps was going to go up earlier this year, I placed an order for £250,000-worth of first and second class stamps.

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As i said if it can been done someone will do it...... good luck to them ...they saw the chance to make money and did it.

Now i wonder how many more that we do not know are doing the same ..and buying up stamps every day...?

20% gain on a non perishable item to sell at anytime..... just think also when they go up again ...there is even more profit to be made .... if they go to 70p...80p..?

[fishtank]

If Salmon is such a genius why is he telling the world?
The price rise doesn't come into effect until April 30th.
Surely all of those businesses will have the sense to stock up on their own stamps before then?
Not that major businesses use stamps...or even minor businesses.
I look forward to visiting Mr Salmon's ebay page.

[CORTINA]

If Salmon is such a genius why is he telling the world?
The price rise doesn't come into effect until April 30th.
Surely all of those businesses will have the sense to stock up on their own stamps before then?
Not that major businesses use stamps...or even minor businesses.
I look forward to visiting Mr Salmon's ebay page.

--------------------------------

As you well know not all have the commonsense you imply..... MPs are a good example

And the person who bought £46 worth of stamps for ....£54 on E-Bay another example....

Its a good business move....maybe to sell in a few months time when most stocks of stamps bought now are gone.... or in batches on E-Bay...