It's quite the interesting situation.
Like most of us, I'd like to go shooting, but until we get a better handle on what's going to happen, I'm reluctant to dip into my current stash. I'm also reluctant to pay current market prices on common ammo, that may well plummet in a year. So I'm sitting on my 9mm pile.
The one thing I've done recently, is explore the more obscure calibers. I'm not GUN shopping, I'm BARREL shopping, with the idea being this-
if I can convert a gun I already own into a caliber very few people are seeking, then I have opened an avenue to add MORE ammo to the mix, and increase (not shrink) my stash.
2 such pistols have been re-purposed by me now. Until this started both were chambered (solely) in 9x19 Parabellum, enjoyed, and waited their turn in the rotation going to the range, depending on my mood that day.
First one was a Chinese Norinco Tokarev; I added the 7.62 Tok barrel for under $60, and picked up some surplus ammo. The results pleased me so much I looked further, leading to my next move-
Second one is a Star Model B Super. Like the above-mentioned Tok, I had been shooting that in 9 Luger. I added a 9 Largo barrel and some Largo ammo, and it also seems to be a fine conversion.
7.62 Tokarev and 9 Largo are generally more expensive than 9x19 Parabellum, but NOT right now. There ARE surplus supplies around if you can find them, which are significantly lower, and mostly require you to clean the gun with an eye towards preventing corrosive salt issues. Ballistol moose milk seems to be an easy method, and if you use Ballistol anyway, that means minimal cost difference. And a side benefit is that you will tend to clean the gun far more thoroughly than if you were shooting "clean" ammo, so you get a better look at your gun.
New stuff is also available, and although the cost is higher, you also don't run the risk of corrosion nearly as much.
It's a bit tougher to find 9mm Largo or 7.62 Tok (or 7.63 Mauser), but you're also not racing against a million new gun owners to buy some. So if/when you do find some, you have a bigger window to decide if it's worth it, or not. If you find 9mm Parabellum, you need to be ready to buy now, or it's gone.
*Added for clarification: even new manufactured ammo in these calibers, if you can locate them, are lower, or at worst equal to, the current price of new manufactured Parabellum. I did a search on one of the ammo engines, best deal I can find for 9x19 brass-cased fmj right now is 70 cents a rd. I can get new Largo for 60 cents, and new 7.63 Mauser for 70.
Surplus is currently going around 35-45 cents a rd