Current Value Of A Thompson (2026 Price Guide)

An undisputed icon of American firearms history, the Thompson submachine gun carries a legacy forged in the hands of soldiers, lawmen, and mobsters alike. Its distinctive silhouette and reputation make it a highly sought-after firearm for collectors and enthusiasts. Understanding the Thompson’s true market value, however, requires navigating a complex landscape of historical significance, legal classifications, and model variations. This guide provides the essential knowledge needed to accurately assess its worth and prepare for a successful and legally compliant sale.

What is a Used Thompson Worth?

The value of a used Thompson varies dramatically based on its classification and historical provenance. For common, modern semi-automatic reproductions, such as a Thompson M1 rifle, the average used price is approximately $1,219. However, the market for original, collectible, and fully automatic models is entirely different. These NFA-regulated machine guns are high-value collector’s items, with prices often ranging from over $23,000 to nearly $34,000. This vast price gap underscores the importance of correctly identifying the specific model and its legal status, as modern carbines and historical submachine guns occupy fundamentally different tiers of the firearms market.

What is the Value of a New Thompson?

For those interested in acquiring a piece of history in a newly manufactured, non-NFA format, several semi-automatic Thompson models are available. The Manufacturer’s Suggested Retail Price (MSRP) for new rifles like the M1 and 1927A-1 “Tommy Gun” typically falls between $1,600 and $2,800. More specifically, a new Thompson M1 has an average list price of around $1,620, while the various configurations of the classic 1927A-1 can be listed from $1,984 up to $2,799. While these are the suggested prices, savvy buyers can sometimes find dealer sale prices for certain models as low as $1,220.

Private Sale vs. Dealer Trade-in

When selling a Thompson, owners must choose between a private sale and a dealer trade-in, with the former typically yielding a higher return. A gun dealer must account for overhead and profit margin, and will generally offer between 50% and 65% of the firearm’s current used retail value. This percentage can shift based on the specific model’s desirability and how quickly the dealer anticipates it will sell; common firearms often receive offers closer to the 50% mark. In some cases, a dealer may provide a more attractive percentage for a trade-in toward another firearm versus a simple cash purchase.

Is a Thompson a Pistol, Rifle, or Something Else?

The Thompson’s classification depends entirely on its specific configuration and era of manufacture. At its core, the Thompson is a submachine gun, a category of firearm designed to fire pistol-caliber ammunition automatically. The original, fully automatic versions are legally classified as machine guns under federal law. However, the vast majority of Thompsons available to the public today are modern, semi-automatic reproductions. These versions are typically classified as long guns or carbines, featuring longer barrels to meet legal requirements and firing only one round per trigger pull, making them distinct from their historical, military-grade counterparts in both function and legal status.

Legalities of Selling a Thompson

Navigating the legal requirements for selling a firearm is paramount, especially when the transaction crosses state lines. To legally sell a Thompson to a buyer in another state, the firearm must be transferred through a Federal Firearms Licensee (FFL) located in the buyer’s state of residence. The standard procedure involves the seller shipping the Thompson directly to the buyer’s chosen FFL. The buyer then visits the FFL to complete all necessary paperwork, including the ATF Form 4473 and a NICS background check, before they can legally take possession. Both parties must also ensure compliance with any additional firearm transfer laws specific to their respective states.

While a Bill of Sale can be a useful document for personal records, it is often not legally sufficient on its own for a firearm transaction. This document typically records the names of the buyer and seller, a description of the firearm, the sale price, and the date. However, the legal requirements for a private firearm sale vary significantly by state and even by municipality. Relying solely on a simple Bill of Sale can lead to non-compliance with local laws that may mandate background checks or other procedures for private transfers. It is crucial to consult the specific firearm regulations for your jurisdiction to ensure every step of the sale is legal.

NFA and Other Restrictions

The Thompson’s legal status is heavily influenced by the National Firearms Act (NFA). Any fully automatic version is classified as a machine gun and is regulated as an NFA item, requiring a federal tax stamp and an extensive approval process for transfer. The same regulations apply to certain semi-automatic configurations; versions with a barrel shorter than 16 inches are classified as Short-Barreled Rifles (SBRs) and are also NFA items. In contrast, modern semi-automatic reproductions built with a 16.5-inch barrel are sold as standard, non-NFA carbines, making them much more accessible to the average buyer without the additional federal paperwork and wait times.

Beyond federal NFA regulations, many states impose their own strict laws that can impact Thompson ownership. In states with “assault weapon” bans, such as California and New York, ownership of Thompson submachine guns by private citizens is generally prohibited. Even the semi-automatic rifle versions face significant restrictions in these areas. For a semi-automatic Thompson to be legal in California, for example, it typically must be modified with a fixed magazine that requires the use of a tool for removal. Furthermore, the owner would be restricted to using magazines that have a maximum capacity of 10 rounds, severely altering the firearm from its original design.

Factors That Affect a Thompson’s Value

A Thompson’s value is primarily driven by its specific model and historical period. A massive price difference exists between a pre-1986 transferable, fully automatic machine gun made by Colt or Savage and a modern semi-automatic reproduction from Auto-Ordnance. For collectors, the manufacturer, year of production, and specific model—such as a 1921 “Chicago Typewriter” versus a wartime M1A1—are critical factors. The historical significance and rarity of a particular variant are the most important drivers of its value, often placing it in a category of investment-grade firearms rather than just a recreational shooter.

For any collectible firearm, but especially a historic piece like the Thompson, originality is paramount to its value. A model that retains all of its factory-original parts, including its finish, will always command a premium. Collectors meticulously inspect for “matching numbers” on key components like the receiver and trigger frame, as this confirms the firearm has not been assembled from disparate parts over the years. Any replacement of major components with non-period-correct parts or any refinishing of the metal or wood can significantly diminish its monetary and historical value, making authenticity a top concern for serious buyers.

The physical condition and cosmetic appearance of a Thompson are direct indicators of its value. Firearms are often graded based on the percentage of original finish remaining on the metal surfaces. Any significant rust, pitting, or deep scratches will negatively impact the price. Likewise, the condition of the wood furniture is crucial; deep dings, cracks, or non-original repairs to the stock and grips will detract from its worth. A Thompson that presents in excellent condition with minimal signs of wear will always be more desirable and fetch a higher price than one that has clearly been subjected to heavy use or poor storage.

Internal wear and tear, often estimated by the firearm’s round count, directly impacts its functional and monetary value. The Thompson is a robust and durable design, but a very high round count can lead to wear on critical components such as the barrel’s rifling, the bolt face, and the extractor. This wear can eventually affect the firearm’s accuracy and reliability, making it less appealing to both shooters and collectors. Consequently, a Thompson with evidence of only light use will be valued more highly than an identical model that shows clear signs of having been fired extensively throughout its life.

Permanent modifications are one of the fastest ways to hurt the value of a collectible Thompson. Any alteration that deviates from its original military or factory configuration will almost certainly reduce its appeal to collectors. This includes actions like drilling and tapping the receiver for modern optics, shortening the barrel, or applying a modern coating like Cerakote over the original blued or parkerized finish. Even seemingly minor changes can have a major negative impact, as the primary interest for most high-paying buyers lies in the firearm’s historical authenticity and original state.

While most modifications decrease value, certain period-correct additions can sometimes enhance it, although this is rare. For a wartime M1A1 Thompson, adding a genuine, period-correct military sling or an original Kerr carrying case could be seen as a value-add because it completes the historical package. On a modern semi-automatic reproduction, a high-quality wood furniture set that more accurately mimics the original 1928 model might appeal to some buyers. However, these are exceptions; the safest and most reliable way to preserve or increase a Thompson’s value is to maintain it in its original, unaltered configuration.

A complete package significantly enhances a Thompson’s desirability and final sale price. This concept, known as “completeness,” refers to including all the items that originally came with the firearm. For a historical piece, this could mean an original shipping crate, user manual, cleaning kit, and all issued magazines, especially valuable and correct drum or stick magazines. For a modern reproduction, it means the original box, paperwork, and any included accessories. Having these items not only proves provenance but also creates a more compelling and valuable offering for serious collectors and enthusiasts.

The Importance of an Appraisal

Given the Thompson’s wide value spectrum—from around $1,200 for a used modern rifle to over $30,000 for a collectible machine gun—securing a professional appraisal can be a crucial step. A general appraiser may lack the specialized knowledge to distinguish between subtle model variations and could drastically over or under-estimate its worth. The necessity of an appraisal depends on the firearm’s specific model and the reason for valuation, such as for insurance, estate settlement, or a high-stakes sale. For more common, standard-production assets, a more cost-effective “desktop appraisal” from a firearms expert might be a suitable alternative to a hands-on inspection.

Preparing a Thompson for Sale

Before listing your Thompson for sale, it is essential to perform a thorough and proper cleaning. A clean firearm is not only more visually appealing to potential buyers but also demonstrates a history of responsible ownership and care. Use quality solvents to clean the bore, carefully wipe down all metal surfaces with a light coat of gun oil to highlight the finish and protect it, and ensure the action is free of dirt and grime. Be careful to avoid using overly abrasive brushes or harsh chemicals that could damage the original finish, particularly on a valuable historical model where the patina is part of its character.

Predicting the future value of any firearm is challenging, but the Thompson’s iconic status provides a strong foundation for its long-term worth. Historical, transferable machine guns exist in a fixed and limited supply, and their value is highly likely to continue appreciating as demand from serious collectors remains strong. Their prominent role in military history and classic cinema ensures they will not be forgotten. The value of modern semi-automatic reproductions will likely fluctuate more with general market conditions, but the power of the Thompson name helps these firearms hold their value better than many other contemporary carbines.

The firearms market often follows seasonal trends, which can be leveraged to achieve a better sale price. The consensus suggests that one of the best times to sell is during the spring, roughly from March through June, which often coincides with buyers receiving tax refunds. Another peak sales period occurs in the late summer and early fall, from August to September, as individuals purchase firearms ahead of the hunting seasons. Additionally, it is important to recognize that firearm sales can be heavily influenced by political events, such as presidential elections, which can create sudden and significant surges in demand.

How to Take Pictures of Your Thompson for an Online Listing

To create an effective online sales listing for your Thompson, high-quality photography is essential. Use a simple, solid-colored background, like a blanket or poster board, to ensure the firearm is the sole focus of the image. Utilize bright, natural, and diffused light, avoiding the use of your camera’s built-in flash, which creates harsh glares and shadows. Take multiple high-definition photos from various angles, filling the frame with the gun. Most importantly, include clear, detailed close-ups of all markings, the serial number, unique features, and any cosmetic imperfections. Using a tripod or resting the camera on a steady surface will prevent blur and produce sharp images that inspire buyer confidence.