Mr. Rawles:
I took your advice you posted last year and have been investing in some high cap magazines. I’ve bought about $2,000 worth since the [November 2008 presidential] election, and I haven’t had any second thoughts. Thank you sir, your advice is making me a tidy profit. The 75-round Romanian [RPK] drums that I bought for $135 each the day after the election are now going for $250 each. And the 31-round Glock 9 milly magazines that I paid $33.50 each for are now going for $65 each. Oh, I found +2 [magazine floorplate extension]s for those, so now they are all 33 rounders. I figure those mags will be over $100 each in a couple of months.
My real coup de largesse was this past weekend, when I went to a local gun show here in Texas. (There is a gun show just about every weekend, somewhere in Texas. Some just take a day of driving to get to!) The place was a mad house. It took 30+ minutes to stand in line just to pay to get in the door. People were buying mil surplus ammo and magazines like crazy. Basically the ammo and mags were all sold out by noon on Saturday. And most of the “black guns” were sold out buy the time they closed the doors Saturday night. Prices on magazines have basically doubled since the election.
Anyway, just after the show opened, I was scanning the tables, looking for high cap magazines–what else–when I spied a Mini-14 GB stainless, with an original Ruger-made 30-round magazine tucked up next to it. I was about to ask [the seller] if he’d sell the magazine separately, when I glanced at the gun’s price tag: $400! I just about died of an infarction on the spot. That is a great price on a fairly scarce model. (The “GB” is the LEO-sales model, with factory-installed flash-hider.) The seller–a nice old gentleman and a Korean War vet–said that he had put less than 500 rounds through it. The rifle’s looks matched the story, so I whipped out four Franklins and a copy of my driver’s license to show I was “Free, white and 21”. Anyway, we got all set (private party sale–my only way to business) to get the gun out the door, and the old timer says, “Oh wait, don’t forget the [factory shipping] box, and the magazines, they come with it.” He reaches under the table and lifts up a shoe box full of original Ruger 20s and 30s, some of them still in the white boxes! I nearly had a second heart attack. There were 11 [magazines in the box, of which] six were 30 rounders. That’s like $900 worth of magazines, these days! Later at the show I also scored four 20 round Beretta M92 “Robocop” mags, two [Steyr] AUG 42-rounders for $30 each, five AR-10 mags (for just $40 each–I’ve seen them advertised on Buddy’s board for $80 apiece!), a half-dozen “Okay [Industries]” M16 mags, and big box of nearly new [Austrian] STG[-58] FN/FAL magazines–which for some weird reason are still around $15! I bought 23 of those. I talked the guy down to $12 per, since I cleaned him out.
Speaking of FAL .308 mags, my next purchase (already agreed, by phone) will be a DSA [FN/]FAL clone. I have to drive 115 miles each way to pick it up. I found it private party, [listed] on GunsAmerica.com. I’m now tapped out, but my dad is lending me the cash. I explained the situation, and he says that it is wise to buy it. [He said:] “We’ll have a good chuckle about the price, in a year or two!”
Here is my strategy on mags: Buy what you can, while you can–while prices are still halfway reasonable. I don’t own a Beretta 92, an AR-10, or an AUG, but I figure I can always trade [for what I need] later. And I practically had to buy that FAL, since I found all those magazines. (What a great excuse to buy a gun.) My only regret is that I didn’t have the cash to buy more magazines at the show. At the rate prices are zooming, Beta [C-MAG]s will pretty soon be back to $750 apiece, just like during the [1994 to 2004 Federal “Assault weapons” and 11+ round magazine] ban. .
Thanks again for your advice, sir. Your were right about silver. You were right about magazines. And for that matter you were right about derivatives, too. The world seems more and more like the first chapter of “Patriots” every day. (What, were you psychic?) I’m taking [your novel] to heart. I got all my “beans”, and “bullets” in hand, now I just have to work on the “Band-aids”. Thank You, Sir! – Matt E. in Texas (Soon to be a 10 Cent Challenger and an Appleseed qualified rifleman.)
JWR Replies: I’m glad to hear that you stocked up. You won’t regret it. Those extra magazines will make fine barter items, both before and after a “Crunch.” OBTW, I’m not the only that is one advocating investing in magazines. The following is from a recent e-newsletter from firearms training guru Gabe Suarez:, advocating preparedness: “…Then get as many magazines as you can justify. Glock magazines are going for about $35 now. A year ago they were under $20, and dealer price two years ago was about $12! At the height of the assault on freedom known as the Crime Bill, they were selling for $125. Forget Ameritrade, buy magazines.”