And where do the QSL managers get them so cheap? From hams
who send them? Why aren't the QSL managers using them as
intended, that is to send a QSL direct to the ham that
provided that IRC and the envelope. Are the QSL managers
keeping the IRCs and sending the QSLs via the bureau?
That would be quite unethical.

Umm.. An overseas ham sends the QSL manager an IRC.
The manager doesn't (although could) take that to the
post office and exchange it for an airmail stamp. The
manager buys stamps at the post office using his/her
local currency. So the ham gets her or his direct QSL
reply, and the manager has effectively bought the IRC
for 80 cents. The manager can then re-sell the IRC
to other DXers for 80 cents (or a little over in order
to bring in a few cents towards ongoing cost of buying
cards, or sending cards via buro when they arrive that
way). Or, of course, the manager can keep the IRC for
her/his own QSLing purposes. Nobody has been cheated
out of anything (unless you count the post office, who
sells the things for $1.75!).

Derek aa5bt