What type of shotguns are we talking about? Waterfowl (steel shot/magnum capable), personal defense, tactical, or just a good old classy shotgun to have around, maybe shoot some clay targets with once in a while?
If the latter, I really like the old Ithaca 37's. I've found three of them in the last decade or so for under $150. I bought a really nice one (made in '49) 10+ years ago at a show for $150. I found another one ('51) at a show a couple years ago that my brother-in-law bought for $150. It wasn't quite as pretty, but still a great gun.
The last one, coincidentally, I'm working on right now. I found it at a show a few months ago for $125. It was cheap because it had a nasty looking, deteriorating, slip on recoil pad. Under the pad was a lumpy who-knows-what that the seller thought was probably a seriously messed up buttstock. IIRC, the serial number dates to '53.
It turns out that it was about 100 wraps of ancient masking tape, just to make the pad fit better. The stock was fine except for missing a buttplate. I fit a good pad to it and right now I'm finally getting around to refinishing the wood. It's a pretty darn good old gun for the price.
They may not be a fancy new magnum, but they are a classy old general purpose pump. I usually see them on used racks for a lot more, but if you watch around you can find a good deal, just because most people seem to want the fancy new magnums.
Added: I agree with the last post about the Mossbergs. I have an old 500 12ga that is a solid old gun, and there are a lot of them around. My Mossberg does seem to kick more than my Ithacas even though it's a heavier gun, though, but I think it's just because the Ithaca seems to fit me better.
I also picked up an old "Sportsman 48" semi-auto Remington last year, for $125. It's a nice old gun from the '50s too, but seems to be a bit finicky about ammo.
Well, that's pretty much it for my shotgun experience; everything I own except my "Iver Johnson Gun and Cycle Works" .410. I'm not a big shotgun guy, so over the years I've just bought them when I see a neat old gun at a good price.
I might just shoot the heck out of it and not worry about dings and scratches!
Those are the best kind, comfortable old guns with some honest dings and scratches! (Nothing wrong with refinishing, though, either)
