Editor’s Note: This article, originally published in 2016, has garnered substantial reader interest. Thus, we’ve updated it with 2024 prices adjusted for inflation. Enjoy!
The vintage ad from 1958 in Guns Magazine showcases surplus rifles at prices that seem astonishingly low by today’s standards. Let’s break down these prices adjusted for 2024 and explore the practicality and allure of these historical firearms.
One dollar in 1958 would be worth about $10.87 today in constant dollars. Let’s see how the 1958 prices look in 2024 dollars when adjusted for inflation. This conversion reflects the cumulative price increase of about 986.74% over 66 years, based on an average annual inflation rate of 3.68% .
The total price listed for the four rifles is $41.76. If you bought all four at once, they would cost $27.84. The equivalent in 2024 is $302.62.
These rifles were affordable for a reason; they were often in poor condition. Descriptions from Group A included:
- “All guns practically complete”
- “You can see light through the bore”
- “Worn, but serviceable”
- “Fantastically inaccurate”
You can understand that rifle buyers of the time were less than impressed. I recall two things when thinking about buying such a rifle during that era. First, putting a scope on these “treasures” would have cost more than the rifle, and second, finding sporting ammunition would be difficult.
The rifles were shipped COD, Railroad Express, which, in much of the country, could increase the cost by 50% or more.
In 1958, the best lever-action rifle of the time, the Savage 99, was going for $113. A new Model 94 Winchester cost $80. As late as 1965, you could buy excellent-condition Model 03A3 surplus rifles for $29.95. That was “your pick” from a barrel at the hardware store. They had much nicer peep sights, with lots of after-market stocks available. They were chambered in .30-06. I still have one that was sporterized.
The total cost of four rifles in group B, purchased separately, was $48.80. If you bought all four at once, the price was $32.50.
That would be $530.46. in 2024. Here are some excerpts from Group B above: “complete in every detail and fully functional,” tempered by “horrible condition,” “complete firing condition,” and “magnificently fair condition.”
The Mosin Nagant was selling for $9.95 in 1958, in only “fair” condition. According to the calculator, that translates to $108.16 in 2024. Mosin Nagants are fun rifles and are generally accurate. Most people can remember the last big imports of Mosin Nagants.
Live Inventory Price Checker
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Gun-Guides Mosin-Nagant Rifles Assembly And Disassembly Guide | Brownells.com | $ 7.99 |
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Davey Crickett Scope Base For Mini Mosin Nagant Rifle Black | Optics Planet | $ 45.99 |
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ProMag Archangel Opfor Mosin-Nagant M1891 Precision Rifle Stock w/5-Round Detachable Magazine Black | Optics Planet | $ 185.99 $ 173.49 |
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RUSSIAN SERVICE PISTOLS AND RIFLES Tula Mosin Nagant M91 | Guns.com | $ 799.99 |
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I have seen a smattering of surplus rifles out in the woods. They tend to be used for a few years until the owner can afford something better. A next-door neighbor took a big buck a quarter mile from my brother’s house. He used a Mosin Nagant.
I have bought and sold many rifles over the years, and I have enjoyed them immensely. Rifles are a cheaper hobby than automobiles, scuba diving, or skiing. Gun values tend to keep up with inflation. They are a store of value but not a great investment.
If you are considering them as an investment, an index fund on the stock market does better, does not take up storage space, and is not as subject to theft. The Dow Jones Industrial Average was about 580 at the end of 1958. It hit 19,000 in 2016, a 32X increase.
As with most collectibles, the best reason to buy old guns is the enjoyment you get from them, seeing how they work, shooting them, and thinking of the history involved.
About Dean Weingarten;
Dean Weingarten has been a peace officer, a military officer, was on the University of Wisconsin Pistol Team for four years, and was first certified to teach firearms safety in 1973. He taught the Arizona concealed carry course for fifteen years until the goal of constitutional carry was attained. He has degrees in meteorology and mining engineering, and recently retired from the Department of Defense after a 30 year career in Army Research, Development, Testing, and Evaluation.