For 38s if you are good with uncoated led bullets than you are right you will not break even for years even if you value your time at $0/hr, maybe never.
Step up to coated or normal bullets and hotter loads and you will pay for the equipment in a few years, as long as you value your time at zero again.
Payback is a lot quicker if you shoot thousands per year. But if you shoot less than a thousand a year then save your brass and minimize cost by selling it.
Myself I reloaded as a relaxing task until I ran out of time. Then the 9mm was sourced out to WWB. Then the 223 was sourced out to Wolf Gold.
I keep reloading 38s because I love shooting my revolver and the cheap ammo is not that accurate or clean. Barry?s coated 158gr bullets and a +P powder load. Not too hot but deadly on steel.



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