M3 blurb from 1987

[Frank I.]

From 1987, I love reading the old publications from the 1980s...totally different vibe in those days. 

$3k WAS a lot for an M3 back then, they were always priced slightly higher than military Thompsons, primarily because there are fewer of them available. 

  

[BillinBama]

Those were the days.... We marvel at the "cheap" prices asked for and paid for CIII items way back when, but forget how little we had available to spend for them.  Some of our toys have outgained the rate of inflation, but many have simply kept pace.  Now where's that time machine I had laying around somewhere? 

[Bridgeport28A1]

They also were not on the Curio & Relics list back in 1987-1988 for those living in C&R only states. 

[RoscoeTurner]

I remember passing on a Sten years ago primarily because the $200 transfer was more than he was asking for the gun.

[Frank I.]

1 hour ago, RoscoeTurner said:

I remember passing on a Sten years ago primarily because the $200 transfer was more than he was asking for the gun.

That was a common occurrence. Charlie Erb's Sten tube guns were $150.00, I often heard the phrase "I'm not paying a $200.00 transfer tax on a $150.00 gun."

Those same Sten guns sell for as high as 10k today. Who knew? 

[RoscoeTurner]

14 hours ago, Frank I. said:

That was a common occurrence. Charlie Erb's Sten tube guns were $150.00, I often heard the phrase "I'm not paying a $200.00 transfer tax on a $150.00 gun."

Those same Sten guns sell for as high as 10k today. Who knew? 

Younger folks find it hard to believe times were like that years ago.

[Got Uzi]

That same argument was made about HK sear units…$350 plus a $200 stamp is stupid….now a sear is pushing $50k

[Frank I.]

My first machine gun was a converted Colt AR-15, I bought it new as a semiauto for $400.00. I did a form 1, and Charlie Erb milled it for a GI sear for $50.00. During the 1980s the economy was not like today, $200.00 was a lot of money, and the LE signature was a problem for many. I sold that gun in the 1990s for $1500.00 and had a hard time finding a buyer. I also had a semi-auto Norinco AK I bought new s/n 0000031, for $295.00 Charlie Erb converted it for $125.00. After the 1986 ban, prices were increasing fast, I offered it to all my friends for $2300.00, they told me I was crazy, I was able to eventually sell it for that price. The 7.62x39 ammo was expensive and hard to find.

I posted this article before, but it is a look at how machine gun buying was "back in the day".

https://archive.smallarmsreview.com/display.article.cfm?idarticles=3854

[BillinBama]

1 hour ago, Got Uzi said:

That same argument was made about HK sear units…$350 plus a $200 stamp is stupid….now a sear is pushing $50k

Yeah, I've often told my customers that back in the day I could have held a handful of HK sears in my fist that I paid a couple of thousand for that are now worth collectively $300K.  

[BillinBama]

45 minutes ago, Frank I. said:

My first machine gun was a converted Colt AR-15, I bought it new as a semiauto for $400.00. I did a form 1, and Charlie Erb milled it for a GI sear for $50.00. During the 1980s the economy was not like today, $200.00 was a lot of money, and the LE signature was a problem for many. I sold that gun in the 1990s for $1500.00 and had a hard time finding a buyer. I also had a semi-auto Norinco AK I bought new s/n 0000031, for $295.00 Charlie Erb converted it for $125.00. After the 1986 ban, prices were increasing fast, I offered it to all my friends for $2300.00, they told me I was crazy, I was able to eventually sell it for that price. The 7.62x39 ammo was expensive and hard to find.

I posted this article before, but it is a look at how machine gun buying was "back in the day".

https://archive.smallarmsreview.com/display.article.cfm?idarticles=3854

I read that article way back when first published, but I just re-read it to remind my confused mind of the pertinent facts. Thanks for posting that. I was late to the Class III game, buying my first full auto in I think '91, an M-16 lower, to which I added a parts kit and had myself a gen-U-ine machine gun for about $1200 including the tax stamp.  I still have it.  I once bought 10 wooden cases of Norinco 7.62x39 and sold several of them, keeping a few for myself.  I just broke open the last case a year or so ago. 

All that said, yes, prices have increased greatly and usually beaten the rate of inflation considerably.  However, we may be in another "golden age" so to speak, as several entrepreneurs have started making parts again for some of our toys (S&W 76 and Swedish K come to mind) after a period when all parts for those guns had dried up.  The bargain MG now is a MAC 10 or Reising, but those are much more than just a few years ago.  Stens were once the bargain basement gun of choice (tube gun, of course).  My crystal ball is perineally cloudy and my time machine is broken, so I'll just muddle along like I always have, making a lot of poor decisions and occasionally a great one as blind squirrels are wont to do.   

[Frank I.]

33 minutes ago, BillinBama said:

I read that article way back when first published, but I just re-read it to remind my confused mind of the pertinent facts. Thanks for posting that. I was late to the Class III game, buying my first full auto in I think '91, an M-16 lower, to which I added a parts kit and had myself a gen-U-ine machine gun for about $1200 including the tax stamp.  I still have it.  I once bought 10 wooden cases of Norinco 7.62x39 and sold several of them, keeping a few for myself.  I just broke open the last case a year or so ago. 

All that said, yes, prices have increased greatly and usually beaten the rate of inflation considerably.  However, we may be in another "golden age" so to speak, as several entrepreneurs have started making parts again for some of our toys (S&W 76 and Swedish K come to mind) after a period when all parts for those guns had dried up.  The bargain MG now is a MAC 10 or Reising, but those are much more than just a few years ago.  Stens were once the bargain basement gun of choice (tube gun, of course).  My crystal ball is perineally cloudy and my time machine is broken, so I'll just muddle along like I always have, making a lot of poor decisions and occasionally a great one as blind squirrels are wont to do.   

Well, there have been some positive events in the NFA world recently...

The LE signature being eliminated, FAST transfers via Eforms, many Pre-May guns are now transferable, and the removal of the $200.00 tax on SBRs, SBS and suppressors. There is a lot of pushback on the elimination of the tax, citing that since no tax is being collected, they should not be NFA. That could very well backfire, it is very possible that many states will ban them if there are no federal controls in place. In fact in Pennsylvania, a bill was already proposed to ban any shotgun with a barrel under 18" (and FTRs). The bill was defeated by ONE vote, but is sure to be presented again.        

Just my 2-cents

[BillinBama]

To be sure, we've won a few, and the tax stamp elimination can go either way,  possibly depending on red or blue atate status. I'm working on a couple of form 4 suppressor transfers and I have to keep reminding myself that there is no tax anymore. My biggest hurdle now is getting the customers to set up their own accounts, it's intimidating to some.

[inertord]

The last time I bought HK Sears 

[StrangeRanger]

On 1/24/2026 at 9:00 AM, Frank I. said:

My first machine gun was a converted Colt AR-15, I bought it new as a semiauto for $400.00. I did a form 1, and Charlie Erb milled it for a GI sear for $50.00. During the 1980s the economy was not like today, $200.00 was a lot of money, and the LE signature was a problem for many. I sold that gun in the 1990s for $1500.00 and had a hard time finding a buyer. I also had a semi-auto Norinco AK I bought new s/n 0000031, for $295.00 Charlie Erb converted it for $125.00. After the 1986 ban, prices were increasing fast, I offered it to all my friends for $2300.00, they told me I was crazy, I was able to eventually sell it for that price. The 7.62x39 ammo was expensive and hard to find.

I posted this article before, but it is a look at how machine gun buying was "back in the day".

https://archive.smallarmsreview.com/display.article.cfm?idarticles=3854

My first machine gun was a WH 1928 bought used in 1988 for $1K; sold it to MWT in 2017 for $15K.  Second was a Reising 50 with a complete spare parts kit and 5 mags bought used in 1990 for $750; sold it along with 6 Christie mags to a friend in 2023 for $9K, probably could have gotten more from a stranger. I think we're not likely to get those sorts of ROI in the future

 

Edited January 26 by StrangeRanger

[Remo Williams 1]

Frank James on the cover. That is the exact magazine that got me looking into NFA weapons. My dad had some, but that magazine was an eye opener. If you go on eBay, Frank James wrote a couple of HK books that are very expensive.