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money in hand...what's a good investment right now?

Buy 2 AR kits and build your own. Should be able to keep it close to the 700ish mark for basic kits. $700 is not a lot of money to play with in the gun game as you already know.
 
I vote keep it and save for a bigger stash. There is just too much movement. Prices are falling for most things and NFA game could change dramatically as well. Nothing really new/outstanding really.
 
Ammo.

Especially the popular calibers like 22 and 5.56. It's the cheapest it's been in years , it won't go bad, and some day you will need it desperately because you won't be able to buy it for some reason or another.

Also, you can get a worthwhile quality for $700, which can't be said about guns.
 
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