I bet 9mm hits $8.50 ish again on the plinking stuff in the next year or so when all this cools down.
I can guarantee you it won’t.
In pre-November 2008, you could buy 100rd packs of 9mm WWB at Walmart for $10.99–that’s .11/rd.
Then everyone lost their sh*t after the election.
9mm dried up, when you could find it, the price had gone up to $30-35 for that same 100rd WWB. Prices stayed like this until about 2011, when it finally made it through the chicken littles’ thick skulls that, despite the “Sky is falling!!!” warnings of the NRA and everyone else, there was no new gun legislation coming (and there wouldn’t be, either).
Prices were just starting to come around in 2011–100rd WWB for around $20-when Sandy Hook happened, and everyone decide to let their brains leak out of their ears and panic again. Now, it was $40 for that 100rd WWB pack. Stayed there for about two years, then finally in 2015, prices started to fall. Kept falling, too, until that 100rd WWB was back around $19-20.
Then…”Ermegerd!! Cronervrus!!!” idiots panicked YET AGAIN. Summer 2020 “Ermegerd!!! BLM!!!” idiots drove it up higher (to be fair, it was pretty much the same idiots every time).
Now, my point is—even when prices got to be the lowest they’d been in a decade in late 2019—around $190/case—they were still over 150% what that ammo cost in 2008 ($110/case).
The price will likely stabilize—if the chicken littles can keep their sh*t together, that is—at $250/case, or $25/100.
But, it won’t, because it would seem that, for the most part, and no matter how much they want to claim otherwise, the vast majority of gun owners are stupid, panicky animals…and that’s not gonna change, EVER.