Martin Lewis on how to swap your old stamps before they become worthless

Martin Lewis has issued a warning to everyone with unused Royal Mail first or second class stamps at home.

The financial guru urged viewers of The Martin Lewis Money Show Live to exchange any unused stamps they have lying around the house before they expire at the start of next year.

From January 31, 2023, stamps with the Queen’s head on them will be replaced by ones that contain a barcode alongside it. The rule change will also mean that seasonal stamps, such as the ones in circulation over Christmas, will no longer be valid from that date.

However, an exception will be made for special commemorative stamps, such as the ones found in the Beatles, Rolling Stones, DC Comics, Marvel and Doctor Who collections.

Martin told STV viewers: “Stamps that say first or second class on them – in fact all stamps unless they’re those special ones like the Doctor Who ones – will be unusable by the end of January 2023.

“Lots of people have stocked up on the first and second class ones because I tell them to – when prices are going up you can buy lots of these and if they say ‘first’ or ‘second’ even when the price goes up, they’re still valid.”

He continued: “You need to be aware and know about this rule change.”

The consumer champion went on to explain how from next month, anyone who has any of these stamps will be able to swap them for the new barcoded versions.

This initiative, which Royal Mail has dubbed the ‘Swap Out’ scheme, will open from March 31, 2022 and will close on March 31, 2023.

To swap them over, Martin explained: “You can get a form on the Royal Mail website or you can call it or go somewhere that has Royal Mail delivery, but bizarrely, you can’t do it at the Post Office – which I think needs to change – and then you need to post your tamps off and they’ll send you replacements.”

Royal Mail hopes that the change coming into force next year will be a major shake up for security.

The barcodes are said to have ‘additional security features’ that will support efforts to improve the safety of the post that the firm handles.

All of the barcodes will have a ‘digital twin’ which can be connected through the Royal Mail app, but it will not allow people to track their post.

Royal Mail has already started phasing out non-barcoded stamps in shops and Post Offices across the UK.

Shops and Post Offices will continue to use the current stamps until they eventually run out of stock and are replaced by the new ones.

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