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Found Lots of Ammo - Question

mace01
I am at my in-laws for the holidays, found out my father has a ton of ammunition from the 70s that he has been storing.

Examples are:
1000 Lake City .223 rounds, different headstamps, 69, 70, 72, 74 and 75
2000 Lake City 7.62 rounds, all 72 head stamp.

Can anyone give me an idea what this is worth? What I should expect to get for this if I sell it for him?

Sorry for the novice question, thanks!


As discussed below, here are the two auctions I have placed.

http://www.gunbroker.com/Auction/ViewItem.aspx?Item=152082255
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=152083616
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Comments

12 comments

Date Votes
  • rufe-snow
    LC is common military ammo. Lot of it shows up on the two large net gun auctions. Check what the actual selling prices are per round. Multiply by what you have.
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  • leeblackman
    Ammoman.com has lake city 5.56mm SHIPPED at .50 per cartridge, its fresh too, not old surplus. Widener's has it before shipping at 0.38 per cartridge. I would base value it at 0.35 per cartridge if you were going to sell it locally. So $350 to $500, but don't expect buyers lining up at your door for $500, it will probably be gone tomorrow at $350.

    As for the 7.62nato, oh man, I wish it were in my stock pile, I'd being signing up for the next appleseed class that came around with my L1A1 or my M1A. Anyway I'm seeing it pretty consistantly at about .50 per cartridge, either shipped 1000rds from ammoman.com or not shipped 500rds from wideners. The more you buy the cheaper it gets just about anywhere you go. So 2000rds I would say $900 even is a fair attractive price at the moment. Would probably be gone to the next poster for $750, but you might be sitting on it a while at anything over $1000. In fact because the ammo is typically so high right now in that particular cartridge for surplus, you'll probably do better breaking it up in to something like 250rd lots and "trying" to sell it for $150 a lot, that would get you $1200 for it.

    Anyway all and all I'm guestimating your father and law is sitting on between $1250 and $1700 worth of ammo. And if your a gambling man, now could either be a really good or a really bad time to sell it. Who knows, there could be another large spike in ammo prices, meaning it would be better to sell it later, or things could stabilize and we see ammo hitting the shelves at current prices without shortages again. The economy in general is pretty nasty, so either way you don't know. One thing that is good is, it will always be worth something, and if you had to you could always barter or shoot it.

    If you ask me, I would sit on it. And being your father in law, you might opt to convince him to keep it, seeing since your married to his daughter it might end up in your hands anyway.
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  • givette
    You can place it here for auction. Start at .25c per round, and let the market decide its worth. Best if you have a shipping cost disclaimer (buyer responsible).

    Where is the ammo located?

    Thanks, Joe
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  • USN_Airdale
    quote:Originally posted by mace01
    I am at my in-laws for the holidays, found out my father has a ton of ammunition from the 70s that he has been storing.

    Examples are:
    1000 Lake City .223 rounds, different headstamps, 69, 70, 72, 74 and 75
    2000 Lake City 7.62 rounds, all 72 head stamp.

    Can anyone give me an idea what this is worth? What I should expect to get for this if I sell it for him?

    Sorry for the novice question, thanks!


    3,000 rounds a "ton" ?? gimme a break ! OR are you saying there is 1,000 rounds each of 69, 70, 72, 74 and 75 ??
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  • nmyers
    Exactly where has he stored the ammo?

    If it's been in his attic in Phoenix, it's not worth much now. (You don't want to sell bad ammo & have to pay 2-shipping when the buyer finds out.)

    Neal
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  • beantownshootah
    Well answered already.

    Good brass .223 is running about $.35 per round.
    Good brass .308 is at LEAST $0.50 per round.

    I'd ballpark the lot at $1400 give or take a bit. You might get a little more if you break it up into small lots, and maybe a bit less if you sell it all at once. Where you are located geographically may affect prices a bit too.

    In terms of timing for the sale, I'll just say that while prices for .223 have been falling a BIT since the Obama-induced ammo panic over the last year, they're probably not going to get much lower than the above. Demand for .223 just keeps going up and up. .308 never seems to go DOWN in value, particularly not good stuff.

    Pretty much ANY ammo is inflation resistant and keeps its value.
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  • mace01
    quote:Originally posted by USN_Airdale
    quote:Originally posted by mace01
    I am at my in-laws for the holidays, found out my father has a ton of ammunition from the 70s that he has been storing.

    Examples are:
    1000 Lake City .223 rounds, different headstamps, 69, 70, 72, 74 and 75
    2000 Lake City 7.62 rounds, all 72 head stamp.

    Can anyone give me an idea what this is worth? What I should expect to get for this if I sell it for him?

    Sorry for the novice question, thanks!


    3,000 rounds a "ton" ?? gimme a break ! OR are you saying there is 1,000 rounds each of 69, 70, 72, 74 and 75 ??


    There is probably 1,000 rounds each of 69, 70, 72, 74 and 75.

    As far as the 7.62/.308 stuff, I thought he just had the 1,000 rounds I knew about...he just dragged out 4 more ammo cans, looks like we are now at about 3,000 rounds of 7.62.

    This stuff is in SoCal, I just shot some the other day, it is still good and shoots very nicely.

    Thanks all very much for the helpful hints, I placed a lot of 100 .223 on the site starting at $.30 per round and a lot of the 7.62 starting at $.75 per round...those were the prices he decided on. He's got a lot of other stuff I'm going to go through over the next couple days so I may post again with other questions.

    Thanks again for all the quick and helpful replies.
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  • coledigger4
    Could you add a link to these auctions? Maybe 'edit' you first post so the topic doesn't get locked sooner.
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  • drobs
    DON'T SELL IT!

    Keep it for yourself.
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  • Mobuck
    Would you really forfeit the future safety and welfare of your family for a few hundred(or a couple thousand) dollars???? That ammo,properly used, might make the difference between losing everything you have and living through a catastrophy.
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  • mace01
    quote:Originally posted by Mobuck
    Would you really forfeit the future safety and welfare of your family for a few hundred(or a couple thousand) dollars???? That ammo,properly used, might make the difference between losing everything you have and living through a catastrophy.


    Plenty more where it came from...
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  • shoff14
    The .223 is not worth 30 bucks for 100, plus $15 shipping, that is 45 cents a round. It will be there for a long long time.
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