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

Discussion in 'General Gun Discussions' started by vtail, Feb 20, 2013.

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  1. vtail

    vtail Member

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    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.
     
    Last edited: Feb 20, 2013
  2. InkEd

    InkEd Member

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    I hope the people selling to them are getting more than scrap price.
     
  3. 316SS

    316SS Member

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    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.
     
  4. JRH6856

    JRH6856 Member

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    Doesn't lookl ike it/

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

    CLP Member

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    you sure about that math?
     
  6. Zardaia

    Zardaia Member

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    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.
     
  7. JRH6856

    JRH6856 Member

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    No. It's more like 10 cents a round. :eek:
     
  8. AlexanderA
    • Contributing Member

    AlexanderA Member

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

    Claude Clay Member

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    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.
     
  10. huntsman

    huntsman Member

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    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
     
  11. JRH6856

    JRH6856 Member

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

    Shanghai McCoy Member

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    Most pawn shops in Oklahoma have FFLs and sell guns and ammo.
     
  13. IlikeSA

    IlikeSA Member

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    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.
     
  14. Cosmoline

    Cosmoline Member

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    How are the weeding out sketchy handloads?
     
  15. MachIVshooter

    MachIVshooter Member

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

    USAF_Vet Member

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    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.
     
  17. C-Davis

    C-Davis Member

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    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.
     
  18. colorado_handgunner

    colorado_handgunner Member

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    Many pawn shops already have an ffl to sell the guns people want to pawn. Almost all of the where I have lived did.
     
  19. 4v50 Gary

    4v50 Gary Moderator Staff Member

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    Do they have boolits for gold yet?
     
  20. C-Davis

    C-Davis Member

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    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
     
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