NEWS Fear and Greed Have Sales of Guns and Ammo Shooting Up

[festus]

The way Jay Chambers sees it, the semiautomatic weapons in his firearm collection might be the most promising investment in his financial portfolio.

Like many gun enthusiasts, Mr. Chambers, a manager for a door wholesaler here, believes President Barack Obama and the Democrats in Congress soon will reimpose a version of an expired federal ban on the sale of so-called assault weapons. If such a law passes, he figures his collection — enough guns, ammo magazines and weapon parts to assemble about 30 AK-47s, AR-15s and other semiautomatic rifles — could triple in value.

"A guy could easily make a lot of money," says Mr. Chambers, 47 years old, while at Autrey's Armory, a gun store about 20 miles south of Atlanta.

Purchases of guns and ammunition are surging across the country. Nearly four million background checks — a key measure of sales because they are required at the purchase of a gun from a federally licensed seller — were performed in the first three months of 2009. That is a 27% increase over the same period a year earlier, according to the Federal Bureau of Investigation.

No one knows exactly what is behind the gun-buying craze. Some buyers say they are stocking up for themselves in anticipation of new gun-control laws, while others say they're worried about deteriorating public safety as the economy worsens.

But it's also clear that part of the gun-buying rally is driven by people like Mr. Chambers who are buying weapons the way others invest in a hot stock. The buying is pumping up prices. Many popular models of guns are back-ordered for a year or more. Some manufacturers are operating plants 24 hours a day. According to the 2009 edition of the Blue Book of Gun Values, the average price of European-made AK-47s — the famous Soviet-era military weapon now made in several countries — doubled from $350 last September to more than $700 by the end of 2008.

Source: FOXNews.com

[USMC268]

There's definetely a shortage happening here and I'm not even talking rifles. My last 2 Mossberg 500's had to be ordered out of state. When I can find 12ga/20ga ammo I have to drive 20 miles to get it. Otherwise, I have to order it from one of 2 places that are willing to ship to my area. And the good stuff is usually backordered.

[sambo42xa]

"Some buyers say they are stocking up for themselves in anticipation of new gun-control laws, while others say they're worried about deteriorating public safety as the economy worsens".
I am stocking up for BOTH these reasons mentioned. I do not have as much supplies as many of you do but I'm picking up a little here and there when I can.

[risque1]

My pre-ban guns have doubled in value!!!
My other investments are in the toilet!!!

[paperbox]

I have been ''lucky'' about 3 years ago I started picking up 9MM , 38 , 357 , and some 380. I was getting 4 to 8 box's every week. Lucky ? Yes ! Now I just pick up a box when I see them. $ $ $ high in price ? It has gone crazy in S.C.

[HK4U]

I hope it turns around but I would not count on it. It may get worse.

[FN1910]

Anyone old enough to remember the penny shortage about 25 years ago? I remember looking at guns one day and the owner was telling me about he had just bought a million pennies as an investment. Banks and stores were offering bonuses for anyone bringing i a roll of pennies. Now 25 years later I find them on the ground all the time where people have thrown them away as too much trouble to even carry in their pocket.

Ammo will be similar and back down to a reasonable price and availibility before long if you can wait it out.

[USMC268]

Originally Posted by FN1910

Ammo will be similar and back down to a reasonable price and availibility before long if you can wait it out.

The key is waiting. Economy, supply, and demand always fluctuates. People are just going ape$hit right now under the new command.

I stock up so I can have my own ammo on hand when I need it. When I want to go out and pattern a shotgun I don't feel like dealing with the hassle of not finding what I need.

Anyone have any serious back orders placed on anything? Federal seems to be in high demand for ammo right now, at least for shotguns.

[JohnK87]

I haven't been able to find much personal defense ammo lately, so I picked up two boxes of 50 .40 JHP Black Hills for $45 a box <gulp>.

[ricardo900]

I was at the Dulles Expo center this past weekend for the Nation's gun show in Chantilly, VA. Ammo was selling literally like hot cakes and many of the popular calibers were sold out by 6pm.