Gun Shops See Sales Boom After Obama Election Victory

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Barack Obama's election victory is already proving a boon to one demographic group that may not have backed him: gun shop owners.

Gun enthusiasts nationwide have been stocking up on firearms out of fear that an Obama administration along with a Congress controlled by Democrats will institute tough new gun laws.

Thirty-six-year-old George Horne, the owner of the Gun Room in Lakewood (Colo.), says there were people lined up to purchase guns when he arrived at work Wednesday. He sold 25 guns in a three-hour period.

A part-time worker at the Gun Room, 58-year-old Frank Meeker, owns 12 guns and says he'll likely buy a few more as an investment, believing guns' value will rise as demand increases.

Meeker said he expects, initially, higher taxes on firearms and ammunition under an Obama administration.