I bought an uncut/welded one years ago when they were $100 items and I was young and foolish (foolisher) and didn't worry about the $10M, 10 years in the gray-bar hotel, or both the feds charge you with if they catch you. The 89 was/had been registered, the owner died, the seller bought it from the family, probably for $25, and didn't want to mess with a $200 transfer fee. Needless to say, it's been sliced and diced.
The machine shop owner that did the work on the four this PM said the charge was $25. The owner replied the price was not fair. The machinist said, "Not fair?" with a strange look on his face. Owner said, "That comes to over $6 each, a fair price would be $10 each and gave him $40. Both parties were happy.
Some years back I had a registered Type 10 that in a fit of insanity I decided to sell. I'd paid $500 and the $200 registration/transfer fee and was asking $700. Finally, after at least two months of advertising in B'zai a fellow said he would pay $700, but didn't want a live one. He would pay to have it cut! A Tuscaloosa area machine shop charged me/him $90 to cut the 2" hole, this was before the feds gave the OK for the slot. So four sliced and diced for $40 was a bargan.
And Josh, I have one that some PO (previous owner) cut the slot, then had about a half inch weld, ground to a "spike," located in the barred above the slot. He took an 89 round, had a slot cut in it from the base up to the fuse area. He replaced the string on the fuse safety "pin" with a longer one. The round can be dropped in the barrel with the welded "spike" passing through the slot in the round so the round rests on the firing pin screw. Oe it can be removed for a close examination of the "innards" of the round. And it meets the alphabet boys requirement that a live round (if you could find one) can not be dropped down the barrel. Makes a better display item than an illegal 89 hidden in the attic.