A gun buyback program is one instituted to purchase privately owned firearms. The goal, when purchasing is done by the police, is to reduce the number of firearms owned by civilians, and provide a process whereby civilians can sell their privately owned firearms to the government without risk of prosecution. In most cases, the agents purchasing the guns are local police when purchasing firearms for the government.
In July 2007 Argentina initiated a national gun buyback program that ran until December 2008. Participation in the program was voluntary and anonymous. Individuals received between 100 and 450 pesos (or US$30 to US$145) per firearm depending on its type. All types of firearms were accepted including legal as well as illegal weapons. The 2007-2008 buyback collected a total of 104,782 firearms or around 7% of the county's estimated total number of firearms as well as 747,000 units of ammunition. Indications are that the buyback was successful in reducing the number of gun related deaths from accidents and has done quite a few to reduce the number of gun related deaths in suicides, homicides and car thefts.
Australia had buyback programs in 1996 and 2003. Both programs were temporary and involved compensation paid to owners of firearms made illegal by gun law changes and surrendered to the government. Bought back firearms were destroyed.
The 1996 "National Firearms Buyback Program" took 660,959 firearms out of private hands comprising long guns, mostly semi-automatic rimfire rifles and shotguns as well as pump-action shotguns, and a smaller proportion of higher powered or military type semi-automatic rifles. Because the Australian Constitution requires the Commonwealth to pay "just compensation" for private property it takes over, the Government increased the Medicare levy from 1.5% to 1.7% of income for one year to finance the buyback program. The buyback was expected to cost $500 million. The payments from the Commonwealth were conditional on the States and Territories introducing firearms laws and regulations consistent with the National Firearms Agreement.
In 2003 new handgun laws made illegal target pistols of greater than .38 calibre and handguns with barrels less than 120mm (semi-automatic) or 100mm (revolvers) such as pocket pistols. With an exception for persons participating in International Shooting Sport Federation events, which count as Olympic and Commonwealth Games qualifiers, to access highly specialised target pistols which fail to meet the new barrel restrictions. The Coalition of Australian Governments agreed to this restricted use on the grounds that these highly specialised target pistols are large, visually distinctive and not readily concealable due to their overall size.