First "Cash For Gold", Now "Cash For Bullets"

[vtail]

Are you ready for this?


http://newsok.com/oklahoma-city-business-offering-cash-for-bullets-amid-gun-craze/article/3757149


In a backroom of a coin and gold shop in Oklahoma City, thousands of bullets, in various sizes, containers and boxes, cover a table.

Chelsey Davis said he's buying most kinds of ammunition, so long as it's been stored properly and is still usable. He's been doing it for about a week.

“The first three days we purchased 10,000 rounds, which was a couple thousand dollars spent,” Davis said. “These are people that had them in the garage, in the closet … they either no longer had the guns or no longer had use for them.”

Ammunition is becoming so hard to get in the Oklahoma City area — and elsewhere across the nation — that Davis' coin and gold shop is now in the “Cash for Bullets” business.

 

[InkEd]

I hope the people selling to them are getting more than scrap price.

 

[316SS]

I hope the people selling to them are getting more than scrap price.

I don't. If you sell something, especially to a motivated buyer, without taking the time to find out what it's worth, you don't deserve to maximize your profit.

 

[JRH6856]

I hope the people selling to them are getting more than scrap price.

Doesn't lookl ike it/

10,000 rounds for $1000.00 is a penny a round.

 

[CLP]

Doesn't lookl ike it/

10,000 rounds for $1000.00 is a penny a round.

you sure about that math?

 

[Zardaia]

Yep, which is why I don't sell to pawn shops. Buy low sell high, not when you're buying from me. Maybe a good money maker for the shop but if ammo's really that hard to find, I'm sure their customers could get more quite easily with just a little effort instead of going to a pawn shop for quick cash. Same thing with gold/silver, shops'll sell 10% over spot to make a profit, buy from em and you're in the hole the moment you walk out the door.

 

[JRH6856]

you sure about that math?

No. It's more like 10 cents a round.

 

[AlexanderA]

The OP said $2,000 for 10,000 rounds. That's 20 cents a round. Not unreasonable for unknown, mixed lots of ammo.

 

[Claude Clay]

in CT selling ammo to the public requires a specific FFL license. perhaps it is different in OK or he is using the store as a front to acquire ammo for himself.

 

[huntsman]

what's a fair price? if you're buying now forget fair, maybe you'll get fair selling privetely to the right person.

FWIW a local gun auction has 2k of Thunderbolts and last I looked it was $170. insane

 

[JRH6856]

Yeah, he did say a "couple thousand". I missed the couple. 20 cents a round isn't really unreasonable considering what he's buying.

 

[Shanghai McCoy]

Claude,
Most pawn shops in Oklahoma have FFLs and sell guns and ammo.

 

[IlikeSA]

I have bought ammo from a pawn shop at a mixed bag price. They quoted about a nickel a round, and I found 50 BMG (didn't need it) and other expensive rounds in there. That is how I got my first half box of Corbon 45 ACP to try in my pistol.

 

[Cosmoline]

How are the weeding out sketchy handloads?

 

[MachIVshooter]

in CT selling ammo to the public requires a specific FFL license. perhaps it is different in OK or he is using the store as a front to acquire ammo for himself.

Federal law does not prohibit the resale of ammunition by non-licensees. You do need an FFL06 to manufacture or remanufacture ammunition for sale.

 

[USAF_Vet]

How are the weeding out sketchy handloads?

By offering $0.20/ round.

I don't suspect most people who hand load their own rounds would sell them off to a pawn shop.

I think hand loaders are smart enough to weed themselves out of this particular deal.

 

[C-Davis]

Thanks, for the post just wanted to clear up a few things.
first the shop is not a pawn shop, rather a coin shop
second the .20 cents per round is something of a miss quote my prices differ greatly but have been well received at this point only 1 of perhaps 200 customers has left with his bullets, all others were satisfied and sold.

 

[colorado_handgunner]

in CT selling ammo to the public requires a specific FFL license. perhaps it is different in OK or he is using the store as a front to acquire ammo for himself.

Many pawn shops already have an ffl to sell the guns people want to pawn. Almost all of the where I have lived did.

 

[4v50 Gary]

Do they have boolits for gold yet?

 

[C-Davis]

Yes I would gladly trade bullets for gold or gold for bullets or euros for diamonds or bullets for a Rolex I operate a very non-traditional free market form of bank