The year was 1985 when REAGAN signed the Hughs act. The act made all machine guns manufactured and imported into the country ineligible for registration after 1985.
Before the Hughs act, a full auto M16 could have been purchased for $400.00, plus the $200.00 transfer tax stamp. The Colt semi auto version was $450.00. Now, a full auto M16 sells for upwards of $10,000. The Colt semi auto sells for $1150.00.
My Thompson 1927 A1 deluxe cost me $1000.00. The 1927 model full auto Thompson sell for upwards of $18,000.00, plus the $200.00 tax stamp.
If the Hughs act were to be repealed tomorrow the price of a full auto M16 would plummet to about $1200. The same if Auto Ordnance was allowed to produce the full auto 1927.
The collectors would really take it in the shorts, wouldn't they? Thus their opposition to the repeal of the Hughs act. Follow the money.
OK, I understand your logic. My point is that all other types of firearms have continued to be produced since 1985. I don’t see the price of them dropping, despite millions more added to the market. You know a lot more about it than me, but I just don’t see your scenario happening. Collectible firearms continue to go up in value.
“The collectors would really take it in the shorts, wouldn’t they? Thus their opposition to the repeal of the Hughs act. Follow the money.”
I see your argument. I do not believe it is valid. I have yet to see any machine gun collector that would not want a repeal of the Huges act. They cannot get the guns they want. Most machine gun collectors do it because they like machine guns, not because they expect to make money off of them.
I am sure there are a few such as you describe. I simply believe that they are very rare.