I lived for 30 years in a no MG state (WA) but always wanted one. In 2001 we moved to AZ and I set out to get my 3 grail MGs; M16, UZI, and AK47. Well my local gun store/Class 3 toy store bought 10 Colt M16A1 and I was on the list to get 1st pick. These were guns that the Alyeska Pipeline sold off when they found out how much they were worth!
Originally Alyeska contacted Colt about buying a lot of AR15s for their private security force guarding the AK pipeline. At that time Colt was selling tons of AR rifles to US gun stores and was making good coin so they made an offer to Alyeska to sell them new M16s they had in inventory following the end of the Vietnam war. They would sell them to Alyeska for le$$ than the AR15s. At first the pipeline co. said no, as they didn't want bored pipeline guards out in the wilderness 'greasing' bears with machine guns. Colt told them it was no problem as they would install semi-auto selector switches in all the 16s. The deal was sealed and the pallet loads went out to AK.
The one I bought still had the SA selector and had never been fired in FA. Price in 2002: $7200. I thought I was being screwed, but still paid up.
