Some ammo collectors like ratty boxes as they may combine several of the same type to produce one better-looking box. Sort of box restoration.
Like other collectibles, the value of a box of old ammo depends on box condition, originality of contents, and scarcity. Many serious collectors will not be interested in boxes in less than high condition unless it is a real rarity. Some 19th century boxes in good condition can bring astonishing prices.
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