Who actually owns a full auto?

[Guns4Fun]

I didn't say the price jumped overnight, "Now" would be 24 years later, and if I had purchased a truckload of firearms and registered them, I'd be retired today wouldn't I, hence, If I knew then what I know now.

The return on investment would be greater than pretty much anything you could have bought on the stock market [including stuff like Micro$oft]

Yeah, isn't that the truth -- if you only knew then what you know now. I don't know how old you are but I was 21 in 1988. Back then, I was a fudd. I only owned guns that I could hunt with and could not see the need for assault type guns. I only shot my first handgun at 21 because that was when I got my LTCF. It wasn't until just prior to the 94 ban that I started getting interested in the semi auto assault type guns.

I remember walking around a gun show around 1989 - 1990 or so and coming across a table that had boxes of FA Uzi's, and a bunch of FA M16's. The guy tried to convince me that it was easy to own FA. I declined because again, I didn't see the need. If I remember correctly, the Uzi's were around 1K and the M16's were under 2k.

Fast forward 20 years and uzi's are 7k and m16 are 10-16k. One of the problems I see with FA as an investment is that you'd actually need to sell them to see the profit. I think that would be the hard part unless you had enough money back then to buy a couple extra to store in the safe. But back then, I was fresh out of school, newly married and had a kid to feed. So, money wasn't so easy to come by. But i probably should have invested the 3k into the m16 and uzi instead of putting it into my 1970 camaro. The car is long gone and was worth next to nothing but the FA guns - well they'd be worth a bunch.

[GUNGUY45]

Guns4Fun,
You said it, I had, repeat HAD, a beautiful 1970 AMC, AMX, 45,000 Mi. that I sold, if I had the money I put into that(in 1983), I could have bought so many NFA guns, your head would spin.
I did however buy my M50 Reising in 1994 for the princely sum of $745.00, they now go for between $4,000, and $5,000, not too bad, but I'm not selling anytime soon.
If I'd bought a bunch of those $1000 Thompsons instead......., but who sells their guns????

[GeorgeF]

I inherited my FA. I coudnt imagine me buying any with a family and all sucking up my money. But a Uzi can be had reasonably for about $6k to $7k. And lots of conversions for it - make it .22 for cheap plinking. And its built like a tank with spare parts plentiful.

Anywho, I always think its funny that people say they should have bought machineguns on the cheap and sold them today. Anybody who was willing to sell them for a profit would probably have done so as soon as they reach like 300%-400% of original value. Most people who bought them just held onto them so its just profit on paper.

If you truly wanted to make a huge amount of money, you should have invested $1000 in Microsoft in 1986, you would have over $250,000 today. With no transfer tax of $200 and fingerprint cards to slow you down.

Then you could buy some land to shoot those Full Auto toys on

[ungawa]

Anywho, I always think its funny that people say they should have bought machineguns on the cheap and sold them today. Anybody who was willing to sell them for a profit would probably have done so as soon as they reach like 300%-400% of original value. Most people who bought them just held onto them so its just profit on paper.

I sort of agree. Plus, with the stroke of a pen they could be gone. Or (less likely) there could be an amnesty and they would lose almost all value. Over the long period of time it took for these huge price increases there would be a lot of sleepless nights for an investor.

[RoyJackson]

I inherited my FA. I coudnt imagine me buying any with a family and all sucking up my money. But a Uzi can be had reasonably for about $6k to $7k.

When Vector was still selling UZI full auto guns, you could buy one for $3500. As soon as the supply ran dry, the prices doubled.
I could have bought 2...sold one a few years later, and basically had a free selective fire UZI. Can't say I have too much interest in a selective fire weapon...but I sure do kick my ass for not doing that deal!
BTW, these weren't shot out 1986 guns. They were brand new built on older receivers that had never been assembled.

[BrassPie]

Take a look at my Avatar.

I've since purchased, and posted pics, of my M16A1.

[rady8um]

It's one thing to have a suppressor or a <18' shotgun, but who here actually went thru the NFA red tape and now owns a full auto firearm?

Do you mean everyone who is on my list of people who suck because they have a FA firearm and I don't? Or, did you want to talk to someone specific?

[RoyJackson]

One thing we want to watch is that Montana law that exempts homebuilt (meaning made in Montana and stays in Montana) firearms.
Since the Feds can only make law that affect interstate transport, in theory the Montana law would allow new FA weaspons to civilians.
Personally, I think that law will pass Constitutional muster (although I wouldn't want to be the first test case!).
And, if Montana's law passes, any states' law would pass.

[son of the revolution]

One thing we want to watch is that Montana law that exempts homebuilt (meaning made in Montana and stays in Montana) firearms.
Since the Feds can only make law that affect interstate transport, in theory the Montana law would allow new FA weaspons to civilians.
Personally, I think that law will pass Constitutional muster (although I wouldn't want to be the first test case!).
And, if Montana's law passes, any states' law would pass.

WRONG !! IIRC the " Made in Montana " Law specifically excluded Full Auto toys from their exemption .

[MrBi11]

WRONG !! IIRC the " Made in Montana " Law specifically excluded Full Auto toys from their exemption .

Correct: http://data.opi.mt.gov/bills/2009/billhtml/HB0246.htm

Section 5. Exceptions. [Section 4] does not apply to:

(1) a firearm that cannot be carried and used by one person;

(2) a firearm that has a bore diameter greater than 1 1/2 inches and that uses smokeless powder, not black powder, as a propellant;

(3) ammunition with a projectile that explodes using an explosion of chemical energy after the projectile leaves the firearm; or

(4) a firearm that discharges two or more projectiles with one activation of the trigger or other firing device.