Depends on how you look at it. My current load is a Hornady 125 grain HAP over 4.8 grains of N330 to 1.125" using fully processed brass. This costs me around 26 cents a round. Can I buy factory ammo for less, yes. But if I want to buy a round that is similar to what I'm loading, it will be at 50+ cents a round from Atlanta Arms or Staccato.