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Case forming questions.

The weather sucks outside, so I thought I'd try my hand at turning some 308's into 22-250's. The article I read said just apply a goodly amount of lube to the 308 case and run it into the 22-250 die. I did this by lubing the case, screwing the die down until it contacted the 308 case, and then screwed it in about a half a turn at a time until I had a case that resembled a 22-250 case with a really long thick neck. The shoulder of the new 22-250 has many longitudinal striations, folds in the brass I presume (I have a picture on my cell phone, but I'm not tech savvy enough to include with the post). If I had annealed the case prior to this, would these striations/folds not occurred? When case forming like what I'm attempting, should annealing done before or after case forming, or both?
Before someone says, just go buy some 22-250 brass, I'm financing a new Democratic Headquarters at my house, the guy doing the work for me calls it a septic tank. My spare cash for something like new brass is being spent on "real fun stuff" for a while. I'm long on 308 brass (sold both guns) and short on mad money right now, so this project has come about.
 
My advise: Sell your 308 brass and use the money to buy 22-250 brass.
Reason for advise: A bunch of inconsistent necks & casings is what you'll end up with forming the 308's down.
It's not for a total lack of trying to sell it. For several months now, I've been taking it to the local gun shows, with no interest in it, too many others have the same stuff and they're sitting on it also. So I figure do this or scrap it, I'm not ready for that yet. Reloading stuff isn't moving much right now at the shows, brand new ammo can be bought cheaper than buying the components and rolling your own. I got a new flyer/catalog today, they have new 5.56 ammo for about $320.00 per thousand round, pricing the components to assemble the same amount, it added up to around $450.00 without my time to do it.
 
Those folds are from using to much Lube! It even happens when you size a 308 case in a 308 Die. I have a old Bushing Die with 4 different Bushing for making wildcats from the late Skip Otto it's the best way, I can make 6BR into 22BR 200 thou short it's work but it's a wild cat and that's the only way to get the Brass. But like D Moran said you can buy 22-250 Brass so why! but if you just want to work at it call PBike and get his WildCat 4 Bushing Die set and it will be a lot more enjoyable, and it's pretty much the same Die as what I have !
 
Always practice on junk you pickup at the range and have cleaned up. rangerjim is correct about the bushing dies. I've got a set of Skip Otto's and can make 17Mach1V out of 223 LC. In fact that's why I bought them. Lube is a biggie also, for hard squeezing its hard to beat 50/50 anhydrous lanolin and vaseline melted double boiler style.
 
Run it through a 243 die before the 22-250 die? Run it through the 22-250 seating die?
Play with it until something works. I did the same thing some years ago.
 

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