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I am starting to feel understocked. I maybe have 10k in assorted ammo, mostly .45.

03Lightningrocks wrote:

74novaman wrote:

03Lightningrocks wrote:
Guess what I am doing right now...buying all the cheap "assault" rifles and high capacity mags I can get! Odumbell loses...I can unload them for what I paid or a slight gain. Odumbell wins and I make a nice profit!

The same ATF that likes sending guns to cartels in Mexico is going to take a very dim view on you buying guns with the intent to sell them.

I wish you well, but its not something I'd do...much less post about on an open forum.

There is no limit on how many guns I am allowed to collect and there is no law against collecting guns that I believe will increase in value. There is also no law against me selling guns from my collection at a profit. I am good collecting weapons legally and occasionally selling a few here and there if I decide I need the money. This is not considered a straw purchase.

No one said it was a Straw Purchase. Everything you said is correct. What was said earlier though was along the lines of "I am going to buy these to resell for a profit when Obama is elected" which is not legal. Most of us have done this I am sure but you dont say it out loud. If I see a Colt 1911 for $400 I can flip for $700 I dang sure will snap it up but I wont announce why. I bought an AK at a gun show years ago for $175, a steal. I was asked to buy it from a guy for $500 not 30 minutes later. Heck yes I jumped on it and sold it to him. I bought with the intent to keep and enjoy but plans changed real fast. Intent is the key here, not the actions.
As far as I am concerned, more power to you. Wish I had the funds to stock up and do the same but am tied up trading stocks right now, its a real rollercoaster lately.

Not arguing that. I cringed when i saw that. Odds are slim ATF is looking but Murphy is out there......

No, you got it wrong. He bought with intent to collect but later decided he needed cash for bills, or whatever. Just so happens the market shot up. Same thing happened to my 6 ARs November of 2008. Actually I had no idea that the price was going to skyrocket but I sold all mine for at least triple as well. When prices came down last year I did "rebuild" my collection....