The first U.S. Forever Stamp was issued in 2007. Forever Stamps were created by the United States Postal Service® (USPS®) in 2007. They are non-denominational First Class® postage, which means that they can be used to mail First Class letters no matter what the postal rate.

Forever stamps don't have a dollar amount printed on them. They are worth whatever the first-class postage rate is on any given day. To find out what that amount is, people will check with the USPS for the current first-class postage rate. This means that people are able to send a first-class envelope with a Forever Stamp today, tomorrow, next year, or five years from now, no matter what the current cost is.

Forever Stamps are very easy to use. Simply buy stamps at the current first-class rate and you don't have to worry about how much sending a standard letter costs. Stick a Forever Stamp on a #10 (or other standard-sized) envelope, drop the letter in the mailbox, and your postal need is covered.

More Info: en.wikipedia.org