Most of what you see as "M16s" are actually AR-15s. They are semiautomatic lookalikes. They cost in the $800-$2000+ range. For the most part these are unrestricted (some states like California have a problem with them). You can own automatic weapons with the proper paperwork, fees, and background checks. There's at least one private F-16, obviously minus the weapons systems.
You Rang?
At last count 35 American States permit Private Citizens to own Fully Automatic Weapons.
And I live in one of them.
First,
Understand that production of Machine Guns for Purely Civilian usage ended on May 19, 1986.
Second, Anybody that says they are still being made are either mistaken or, in the case of Pelosi, Feinstein, et al, are lying through their teeth.
Third, the process of Buying a machine gun is very paperwork and time consuming effort. As an example, I bought a suppressor, improperly called a silencer, in March of last year. I wasnt permitted to take possession until September. I was lucky; some people have had to wait 9+ months before the BATFE clearance came forward. A year of waiting isn't unheard of.
Forth,
Converting an AR15 into Fully Automatic capability is worth 10 Years at Club Fed and a fine of up to $250,000.
Fifth,
Possession of a Machine Gun without the proper clearance is also worth 10 Years at Club Fed and a fine of up to $250,000.
If you want to know the Lawful Steps for purchasing such items, collectively called Class III Firearms, all of which fall under the National Firearms Act of 1934, go to this address:
http://www.ar15.com/forums/forum.html?b=6&f=17 and ask.
Or try to IM me.
A few notes here: When I purchased my M16A1 It cost me $8,000.00, after Federal Transfer taxes, Sales Taxes, National Identity Check Service (NICS is require by ALL firearm sales), and a bunch of other fees, it cost me $9,000.00. I purchased it in November 2003, took possession in March 2004. Its now worth well in excess of $15,000.00.
I am not permitted by Federal Law to lend my M16 to anybody, including friends or family. I can let somebody else shoot it, but I have to be nearby.
That being said, here are my toys:
My M16A1:
With its Suppressor:
With its 11½ Inch Upper:
My Remington PSS:
Suppressed Glock 17: