Why do people stock pile ammunition? How much is too much in terms of ammunition?

[D10]

I thought that selling off your possessions would be like having a big yard sale.


So, if one were to accumulate a large quantity of firearms, what would be the best way to sell them off?

15 years ago you could start a fund and put the proceeds into it. The fund was not allowed to make profit or have someone on the payroll but there was always a loophole (the size of a car) in the net to make it work. Dunno if this is still possible.

[ChamberedRound]

Serious Question....why do people stock pile ammo?

Is it to be prepared for the End of the World?

Not just TEOTWAWKI, but also for any major emergency or catastrophe that might require you to defend yourself in the short term. Think Hurricane Katrina; not the end of the world, but a short-term emergency that did find many people staring down the muzzle of a gun pointed at them by looters and LEOs alike. In such situations, it's good to have a gun of your own with the proper amount of ammo, if for no other reason than as a force equalizer.

As for amounts, the common rule of thumb I've always heard is a minimum of 1000 rds per caliber for both pistol and rifle. As far as a maximum, I'd say it would be as much as you can store/carry. Even if you don't need it, purchasing ammo has been a better investment than most stocks over the last 8-10 years, and has increased in value FAR faster than both the Dow Jones Industrial Average and the S&P 500 in that same period of time.

[bamboomaster]

I don't get this, he paid cap gains taxes on used stuff he had acquired over the years?

I'm just wondering because I used to help out an auctioneer and I never knew that those people that sold off collections were paying a tax when they sold off their collection.

One guy we did sold over 150 firearms over a 5 auction span and while I can't remember the exact total, I know it was into 6 digits.
He was a nice guy, had just lost his wife and decided to retire to travel like they had always planned on. Kinda sucks now knowing that he got hit like that with taxes.

I thought that selling off your possessions would be like having a big yard sale.


So, if one were to accumulate a large quantity of firearms, what would be the best way to sell them off?

I'm sure there are better informed opinions on the matter - but each to his own based on his personal risk profile when it comes to paying taxes.

The 28% tax for collectibles was intended by Congress to apply a punitive tax on a broad class of items that didn't encourage spending beyond the initial investment, didn't create jobs (as if investing in Wall Street does?), had possibly less risk than other normal and customary investments, etc.

Gold, silver, numismatics, and other collections fall into this category. Some ETF's fall in that category as well. Although each taxpayer's case is likely different, in this instance, reporting the gain at the 28% rate was pretty much a forgone conclusion as a result of the sheer size of the collection and that he was essentially "The Go To Guy" in his particular field. Sell a few firearms a year, no big deal. Sell a few hundred at auction or in private sales and you're not a dealer? Big deal.

As you know, most of the nationally known firearm auction houses charge a fairly significant fee for auctioning your item and also charge the buyer a fee for winning the bid so they're making it on both sides of the transaction. And I have known them to be disingenuous where their appraisals and estimates of a fair market value range may be concerned. But if you have a well-documented QUALITY collection, a regional or national auction house may help you get the best price.

Local auction houses have lower fees on both sides - which bring them a variety of local listings. But the quantity of high quality items is lower, too.

The best way to sell a generic single firearm? Find a buyer who will not only overpay, but additionally pay cash!

And in all instances, never attempt to run afoul of federal firearms laws.

[D10]

Yay.........friend of mine just picked up one of my ole propane bbq's. I bought a new one last year and the spare was sitting in my barn. He once asked me if he could have my spare and how much I wanted for it. I told him to pick it up so it would be out of my way.

He came by just now and dropped of 4200 rounds of 7.62 for the bbq. He said since he sold all his rifle's he didn't need them anymore anyway.

How lucky can you get huh?

[bamboomaster]

Yay.........friend of mine just picked up one of my ole propane bbq's. I bought a new one last year and the spare was sitting in my barn. He once asked me if he could have my spare and how much I wanted for it. I told him to pick it up so it would be out of my way.

He came by just now and dropped of 4200 rounds of 7.62 for the bbq. He said since he sold all his rifle's he didn't need them anymore anyway.

How lucky can you get huh?

HOLY SMOKES!!!!

[D10]

HOLY SMOKES!!!!

6 sealed tins he bought when they were $80 a tin............ahh, the good ole days.

[Quigar57]

How much is too much??

The answer is a simple equation

Combined rate of fire of firearms owned (RPM = rounds per minute) times your expected life span in minutes (ELS) equals number of necessary rounds (NR). If your rounds owned (RO) exceeds your necessary rounds then you have too much.

RPM x ELS = NR

so

If (RPM x ELS) < RO Buy More

If RO > (RPM x ELS) You have too much (in this case send me your ammo or purchase more fir arms)

Example:

Dave is 27 years old. Dave expects to live to be 87 years old. The combined fire rate of Dave's firearms is 538 rounds per minute (RPM). Dave currently has 65000 rounds on hand.

27 - 87 = 60, 60yrs x 365days = 2190days, 2190days x 1440min/day = 3153600 ELS

RPM x ELS = NR
538 x 3153600 = 1696636800

NR RO
1696636800 > 65000 = Dave needs more ammo


See it's simple math, hope this helps.

[bamboomaster]

They really should teach this stuff in middle school instead of having to learn it on your own while attending the school of hard knocks...

[D10]

They really should teach this stuff in middle school instead of having to learn it on your own while attending the school of hard knocks...

There is a lot more that should be taught in school these days. However, stocking up on ammo is never a bad thing. I might have gotten these tins but I prefer the good stuff. I hate scrubbing those barrels after using that surplus ammo.

[TimeTraveler]

When it comes to ammo, I'll leave you with this one thought: "Too much of everything is just about enough". TT